Infinera Corp. (NASDAQ:INFN) shares were up 4.8% on Friday . The company traded as high as $11.35 and last traded at $11.28, with a volume of 948,334 shares trading hands. The stock had previously closed at $10.76.

Several research analysts have commented on the stock. Citigroup Inc. reiterated a “buy” rating and set a $20.00 price target on shares of Infinera Corp. in a report on Sunday, April 10th. Deutsche Bank AG reiterated a “buy” rating on shares of Infinera Corp. in a report on Tuesday, April 19th. Goldman Sachs Group Inc. upgraded shares of Infinera Corp. from a “sell” rating to a “neutral” rating and set a $16.00 price target for the company in a report on Friday, April 15th. They noted that the move was a valuation call. Jefferies Group reiterated a “buy” rating and set a $22.50 price target on shares of Infinera Corp. in a report on Sunday, March 27th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $20.00 price target on shares of Infinera Corp. in a report on Sunday, May 1st. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Infinera Corp. currently has a consensus rating of “Buy” and a consensus target price of $20.23.

The firm has a 50 day moving average of $12.19 and a 200-day moving average of $14.32. The company has a market capitalization of $1.60 billion and a PE ratio of 32.34.

Infinera Corp. (NASDAQ:INFN) last released its earnings results on Wednesday, April 27th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.02. The company earned $244.82 million during the quarter, compared to analyst estimates of $246.15 million. During the same period in the previous year, the company posted $0.16 EPS. The company’s quarterly revenue was up 31.0% compared to the same quarter last year. Equities research analysts predict that Infinera Corp. will post $0.84 earnings per share for the current year.

In other Infinera Corp. news, CEO Thomas J. Fallon purchased 100,000 shares of the company’s stock in a transaction dated Tuesday, May 3rd. The shares were bought at an average price of $11.95 per share, with a total value of $1,195,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brad Feller purchased 25,000 shares of the company’s stock in a transaction dated Tuesday, May 3rd. The shares were acquired at an average cost of $11.75 per share, for a total transaction of $293,750.00. Following the transaction, the chief financial officer now owns 86,628 shares of the company’s stock, valued at $1,017,879. The disclosure for this purchase can be found here.

Other large investors have added to or reduced their stakes in the company. Hodges Capital Management Inc. acquired a new stake in Infinera Corp. during the fourth quarter worth approximately $12,217,000. Columbus Circle Investors raised its stake in Infinera Corp. by 22.7% in the fourth quarter. Columbus Circle Investors now owns 3,132,269 shares of the company’s stock worth $56,757,000 after buying an additional 580,375 shares in the last quarter. Eaton Vance Management raised its stake in Infinera Corp. by 158.3% in the fourth quarter. Eaton Vance Management now owns 855,488 shares of the company’s stock worth $15,501,000 after buying an additional 524,298 shares in the last quarter. Wells Fargo & Company MN raised its stake in Infinera Corp. by 22.3% in the fourth quarter. Wells Fargo & Company MN now owns 2,178,811 shares of the company’s stock worth $39,480,000 after buying an additional 397,744 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in Infinera Corp. by 100.7% in the fourth quarter. American Century Companies Inc. now owns 506,231 shares of the company’s stock worth $9,173,000 after buying an additional 253,993 shares in the last quarter.

Infinera Corporation is engaged in optical transport networking systems. The Company provides optical transport networking equipment, software and services to Tier 1 and Tier 2 telecommunications service providers, Internet content providers (ICPs), cable operators, wholesale and enterprise carriers, research and education institutions and government entities around the world.

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