Insider Selling: David F. Welch Sells 17,500 Shares of Infinera Corp. Stock (INFN)
Infinera Corp. (NASDAQ:INFN) President David F. Welch sold 17,500 shares of Infinera Corp. stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $9.16, for a total value of $160,300.00. Following the transaction, the president now directly owns 14,132 shares in the company, valued at approximately $129,449. The sale was disclosed in a document filed with the SEC, which is available at this link.
Separately, analysts at MKM Partners reiterated a “buy” rating on shares of Infinera Corp. in a research note on Thursday, July 24th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Infinera Corp. has an average rating of “Buy” and an average target price of $11.25.
Infinera Corp. (NASDAQ:INFN) remained flat at $9.05 during during mid-day trading 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’s 50-day moving average is $9.0 and its 200-day moving average is $8.85. The company’s market cap is $1.119 billion.
Infinera Corp. (NASDAQ:INFN) last released its earnings data on Wednesday, July 23rd. The company reported $0.11 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted ($0.01) earnings per share. Infinera Corp.’s revenue was up 19.5% compared to the same quarter last year. Analysts expect that Infinera Corp. will post $0.25 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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