Infinera Corp. President Sells $69,375 in Stock (INFN)
Infinera Corp. (NASDAQ:INFN) President David F. Welch unloaded 7,500 shares of Infinera Corp. stock on the open market in a transaction dated Monday, August 11th. The stock was sold at an average price of $9.25, for a total transaction of $69,375.00. Following the completion of the sale, the president now directly owns 14,132 shares in the company, valued at approximately $130,721. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Infinera Corp. (NASDAQ:INFN) remained flat at $9.05 during trading on Wednesday. 602,270 shares of the company’s stock traded hands. Infinera Corp. has a 52-week low of $6.96 and a 52-week high of $11.91. The stock has a 50-day moving average of $9.08 and a 200-day moving average of $8.86. The company’s market cap is $1.119 billion.
Infinera Corp. (NASDAQ:INFN) last issued its quarterly 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. On average, analysts predict that Infinera Corp. will post $0.25 earnings per share for the current fiscal year.
Separately, analysts at MKM Partners reiterated a “buy” rating on shares of Infinera Corp. in a research note on Thursday, July 24th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Infinera Corp. presently has an average rating of “Buy” and an average price target of $11.25.
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.