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Infinera Corp. (NASDAQ:INFN) President David F. Welch sold 10,000 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $9.21, for a total value of $92,100.00. Following the transaction, the president now directly owns 14,132 shares in the company, valued at approximately $130,156. The transaction was disclosed in a filing with the SEC, which is available at this link.

A number of analysts have recently weighed in on INFN shares. Analysts at Zacks downgraded shares of Infinera Corp. from an “outperform” rating to a “neutral” rating in a research note on Tuesday, June 17th. They now have a $10.00 price target on the stock. Separately, analysts at Goldman Sachs upgraded shares of Infinera Corp. from a “buy” rating to a “conviction-buy” rating in a research note on Tuesday, April 29th. Finally, analysts at Jefferies Group reiterated a “hold” rating on shares of Infinera Corp. in a research note on Thursday, April 24th. They now have a $10.50 price target on the stock. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $11.86.

Shares of Infinera Corp. (NASDAQ:INFN) traded down 0.33% on Thursday, hitting $9.4985. 819,285 shares of the company’s stock traded hands. Infinera Corp. has a 1-year low of $6.96 and a 1-year high of $12.16. The stock’s 50-day moving average is $9.16 and its 200-day moving average is $8.88. The company’s market cap is $1.163 billion. Infinera Corp. also was the target of a large decline in short interest in June. As of June 13th, there was short interest totalling 13,575,416 shares, a decline of 4.1% from the May 30th total of 14,156,742 shares. Currently, 11.4% of the company’s stock are sold short. Based on an average trading volume of 1,394,395 shares, the days-to-cover ratio is currently 9.7 days.

Infinera Corp. (NASDAQ:INFN) last announced its earnings results on Wednesday, April 23rd. The company reported $0.03 EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.01) by $0.04. The company had revenue of $142.82 million for the quarter, compared to the consensus estimate of $140.46 million. During the same quarter in the prior year, the company posted ($0.06) earnings per share. The company’s quarterly revenue was up 14.6% on a year-over-year basis. Analysts expect that Infinera Corp. will post $0.17 EPS for the current fiscal year.

Infinera Corporation (NASDAQ:INFN) provides optical networking equipment, software and services to communications service providers, Internet content providers, cable operators and subsea network operators (collectively, Service Providers) across the globe.

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