Infinera Corp. (NASDAQ:INFN)’s share price shot up 2.3% during trading on Friday . The company traded as high as $12.26 and last traded at $12.11, with a volume of 1,551,849 shares. The stock had previously closed at $11.84.

A number of research firms have commented on INFN. Jefferies Group restated a “buy” rating on shares of Infinera Corp. in a research note on Saturday, May 14th. B. Riley began coverage on Infinera Corp. in a research note on Thursday. They set a “buy” rating and a $18.00 price objective on the stock. Citigroup Inc. restated a “hold” rating on shares of Infinera Corp. in a research note on Tuesday, June 21st. Drexel Hamilton restated a “buy” rating on shares of Infinera Corp. in a research note on Thursday, April 28th. Finally, Stifel Nicolaus lowered their price objective on Infinera Corp. from $23.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, April 28th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $20.07.

The company has a 50-day moving average of $12.03 and a 200 day moving average of $14.11. The company has a market cap of $1.71 billion and a PE ratio of 34.57.

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

In other news, CFO Brad Feller purchased 25,000 shares of the firm’s stock in a transaction dated 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 owns 86,628 shares in the company, valued at approximately $1,017,879. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Thomas J. Fallon purchased 100,000 shares of the firm’s stock in a transaction dated 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.

Several hedge funds and institutional investors have recently added to or reduced their stakes in INFN. California State Teachers Retirement System boosted its position in 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 last quarter. Rhumbline Advisers boosted its position in 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 during the last quarter. Nationwide Fund Advisors boosted its position in 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 during the last quarter. Dai Ichi Life Insurance CO. LTD. boosted its position in 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 during the last quarter. Finally, Marshall Wace LLP boosted its position in Infinera Corp. by 73.6% in the fourth quarter. Marshall Wace LLP now owns 244,156 shares of the company’s stock valued at $4,424,000 after buying an additional 103,545 shares during 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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