Infinera Corp. Director Sells $41,040 in Stock (INFN)
Infinera Corp. (NASDAQ:INFN) Director Mark A. Wegleitner sold 4,500 shares of the stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $9.12, for a total value of $41,040.00. Following the sale, the director now directly owns 29,467 shares in the company, valued at approximately $268,739. The sale was disclosed in a legal filing with the SEC, which is available at this link.
A number of analysts have recently weighed in on INFN shares. Analysts at MKM Partners reiterated a “buy” rating on shares of Infinera Corp. in a research note on Thursday, July 24th. 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. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $11.00.
Infinera Corp. (NASDAQ:INFN) traded up 2.67% during mid-day trading on Wednesday, hitting $9.24. 1,843,667 shares of the company’s stock traded hands. Infinera Corp. has a one year low of $6.96 and a one year high of $11.91. The stock has a 50-day moving average of $9.13 and a 200-day moving average of $8.80. The company’s market cap is $1.142 billion.
Infinera Corp. (NASDAQ:INFN) last released its earnings data on Wednesday, July 23rd. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.07. The company had revenue of $165.40 million for the quarter, compared to the consensus estimate of $165.38 million. During the same quarter in the previous year, the company posted ($0.01) earnings per share. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. Analysts expect that Infinera Corp. will post $0.19 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.