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

A number of research analysts have commented on the stock. Jefferies Group reissued a “buy” rating and set a $18.00 target price on shares of Infinera Corp. in a research report on Wednesday, June 1st. Nomura Holdings Inc. assumed coverage on shares of Infinera Corp. in a research report on Friday, June 3rd. They set a “buy” rating and a $17.00 target price on the stock. Drexel Hamilton reissued a “buy” rating on shares of Infinera Corp. in a research report on Thursday, April 28th. Citigroup Inc. downgraded shares of Infinera Corp. from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $20.00 to $17.00 in a research report on Thursday, April 28th. Finally, Deutsche Bank AG reaffirmed a “buy” rating on shares of Infinera Corp. in a research report on Tuesday, April 19th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $20.23.

The firm has a market capitalization of $1.60 billion and a price-to-earnings ratio of 32.34. The company’s 50 day moving average is $12.16 and its 200 day moving average is $14.27.

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

In other news, CFO Brad Feller bought 25,000 shares of Infinera Corp. stock in a transaction that occurred on Tuesday, May 3rd. The shares were purchased at an average price of $11.75 per share, with a total value of $293,750.00. Following the completion of the acquisition, the chief financial officer now directly owns 86,628 shares in the company, valued at $1,017,879. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Thomas J. Fallon bought 100,000 shares of Infinera Corp. stock in a transaction that occurred on Tuesday, May 3rd. The stock was purchased at an average cost of $11.95 per share, for a total transaction of $1,195,000.00. The disclosure for this purchase can be found here.

A number of hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System boosted its stake in shares of Infinera Corp. by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 246,658 shares of the company’s stock valued at $4,469,000 after buying an additional 3,917 shares during the period. Rhumbline Advisers raised its position in shares of Infinera Corp. by 5.9% in the fourth quarter. Rhumbline Advisers now owns 139,680 shares of the company’s stock valued at $2,531,000 after buying an additional 7,785 shares in the last quarter. DIAM Co. Ltd. raised its position in shares of Infinera Corp. by 15.8% in the fourth quarter. DIAM Co. Ltd. now owns 63,621 shares of the company’s stock valued at $1,170,000 after buying an additional 8,697 shares in the last quarter. Nationwide Fund Advisors raised its position in shares of Infinera Corp. by 7.2% in the fourth quarter. Nationwide Fund Advisors now owns 304,314 shares of the company’s stock valued at $5,514,000 after buying an additional 20,474 shares in the last quarter. Finally, Dai Ichi Life Insurance CO. LTD. raised its position in shares of Infinera Corp. by 32.6% in the fourth quarter. Dai Ichi Life Insurance CO. LTD. now owns 155,869 shares of the company’s stock valued at $2,824,000 after buying an additional 38,284 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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