Infinera Corp. (NASDAQ:INFN) insider David F. Welch sold 80,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $9.14, for a total value of $731,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Shares of Infinera Corp. (NASDAQ INFN) traded up $0.12 during trading on Wednesday, hitting $9.56. The company’s stock had a trading volume of 1,949,611 shares, compared to its average volume of 2,010,000. Infinera Corp. has a one year low of $6.10 and a one year high of $12.38. The stock has a market cap of $1,430.00, a price-to-earnings ratio of -7.30 and a beta of 1.24.
Infinera (NASDAQ:INFN) last issued its quarterly earnings results on Wednesday, February 7th. The communications equipment provider reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.01. Infinera had a negative return on equity of 16.77% and a negative net margin of 26.26%. The company had revenue of $195.82 million for the quarter, compared to analyst estimates of $190.26 million. During the same quarter in the prior year, the company posted ($0.12) EPS. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. equities research analysts expect that Infinera Corp. will post -0.43 earnings per share for the current fiscal year.
INFN has been the topic of a number of recent research reports. Nomura reduced their target price on Infinera from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, November 9th. William Blair reaffirmed an “outperform” rating on shares of Infinera in a research note on Tuesday, February 6th. BidaskClub raised Infinera from a “strong sell” rating to a “sell” rating in a research note on Wednesday, February 7th. Zacks Investment Research raised Infinera from a “sell” rating to a “hold” rating in a research note on Wednesday, November 1st. Finally, B. Riley upped their target price on Infinera from $10.75 to $11.00 and gave the company a “buy” rating in a research note on Thursday, February 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $11.27.
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Infinera Company Profile
Infinera Corporation provides optical transport networking equipment, software and services to telecommunications service providers, Internet content providers (ICPs), cable providers, wholesale and enterprise carriers, research and education institutions, enterprise customers and government entities across the globe.
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