Infinera Corp. (NASDAQ:INFN) shares 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 trading hands. The stock had previously closed at $11.84.

A number of research firms recently commented on INFN. Jefferies Group reiterated a “buy” rating and set a $18.00 price objective on shares of Infinera Corp. in a research note on Wednesday, June 1st. Nomura Holdings Inc. began coverage on shares of Infinera Corp. in a report on Friday, June 3rd. They set a “buy” rating and a $17.00 target price for the company. Drexel Hamilton restated a “buy” rating on shares of Infinera Corp. in a report on Thursday, April 28th. Citigroup Inc. cut shares of Infinera Corp. from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $20.00 to $17.00 in a report on Thursday, April 28th. Finally, Deutsche Bank AG restated a “buy” rating on shares of Infinera Corp. in a report on Tuesday, April 19th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Infinera Corp. presently has an average rating of “Buy” and a consensus target price of $20.07.

The company has a market capitalization of $1.71 billion and a P/E ratio of 34.57. The stock’s 50 day moving average price is $12.00 and its 200 day moving average price is $14.07.

Infinera Corp. (NASDAQ:INFN) last announced its earnings results on Wednesday, April 27th. The company reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.02. During the same period in the prior year, the firm posted $0.16 earnings per share. The company earned $244.82 million during the quarter, compared to the consensus estimate of $246.15 million. The company’s revenue was up 31.0% on a year-over-year basis. On average, equities research analysts expect that Infinera Corp. will post $0.84 earnings per share for the current fiscal year.

In other Infinera Corp. news, CEO Thomas J. Fallon purchased 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 3rd. The stock was acquired at an average cost of $11.95 per share, with a total value of $1,195,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brad Feller purchased 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 3rd. The shares were acquired at an average cost of $11.75 per share, with a total value of $293,750.00. Following the completion of the purchase, 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.

Several large investors have bought and sold shares of the company. Trexquant Investment LP acquired a new stake in Infinera Corp. during the fourth quarter worth $2,735,000. Hodges Capital Management Inc. acquired a new stake in Infinera Corp. during the fourth quarter worth $12,217,000. Marshall Wace LLP increased its stake in Infinera Corp. by 73.6% in the fourth quarter. Marshall Wace LLP now owns 244,156 shares of the company’s stock worth $4,424,000 after buying an additional 103,545 shares during the period. Fiduciary Management Associates LLC increased its stake in Infinera Corp. by 16.1% in the fourth quarter. Fiduciary Management Associates LLC now owns 1,181,799 shares of the company’s stock worth $21,413,000 after buying an additional 164,200 shares during the period. Finally, Eaton Vance Management increased 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 during the period.

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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