Infinera Corp. Director Paul J. Milbury Unloads 25,000 Shares (INFN)
Infinera Corp. (NASDAQ:INFN) Director Paul J. Milbury unloaded 25,000 shares of the stock on the open market in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $10.41, for a total transaction of $260,250.00. Following the completion of the sale, the director now directly owns 18,067 shares in the company, valued at approximately $188,077. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Infinera Corp. (NASDAQ:INFN) traded up 0.58% on Thursday, hitting $10.43. 1,863,657 shares of the company’s stock traded hands. Infinera Corp. has a 1-year low of $6.96 and a 1-year high of $11.91. The stock has a 50-day moving average of $9.22 and a 200-day moving average of $8.97. The company’s market cap is $1.290 billion.
Infinera Corp. (NASDAQ:INFN) last posted its quarterly earnings results 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. 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 investment 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 stock. The stock has a consensus rating of “Buy” and an average target price 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.
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