Infinera Corp. (NASDAQ:INFN) shares fell 4.3% on Tuesday . The stock traded as low as $11.86 and last traded at $11.86, with a volume of 2,471,694 shares trading hands. The stock had previously closed at $12.39.

Several brokerages have recently issued reports on INFN. Jefferies Group reissued a “buy” rating on shares of Infinera Corp. in a research note on Saturday, May 14th. B. Riley began coverage on shares of Infinera Corp. in a research note on Thursday, July 14th. They set a “buy” rating and a $18.00 price objective for the company. Citigroup Inc. reissued a “hold” rating on shares of Infinera Corp. in a research note on Tuesday, June 21st. Drexel Hamilton reissued a “buy” rating on shares of Infinera Corp. in a research note on Thursday, April 28th. Finally, Stifel Nicolaus lowered their price objective on shares of Infinera Corp. from $23.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, April 28th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Infinera Corp. presently has an average rating of “Buy” and an average target price of $20.07.

The stock’s 50 day moving average price is $11.97 and its 200 day moving average price is $13.94. The company has a market cap of $1.68 billion and a price-to-earnings ratio of 33.91.

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

In related news, CFO Brad Feller bought 25,000 shares of the business’s stock in a transaction on Tuesday, May 3rd. The stock was bought at an average price of $11.75 per share, for a total transaction of $293,750.00. Following the transaction, the chief financial officer now directly owns 86,628 shares in the company, valued at $1,017,879. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Thomas J. Fallon bought 100,000 shares of the business’s stock in a transaction on Tuesday, May 3rd. The stock was bought at an average price of $11.95 per share, with a total value of $1,195,000.00. The disclosure for this purchase can be found here.

A number of large investors recently added to or reduced their stakes in the company. Nationwide Fund Advisors increased its stake in Infinera Corp. by 7.2% in the fourth quarter. Nationwide Fund Advisors now owns 304,314 shares of the company’s stock worth $5,514,000 after buying an additional 20,474 shares during the last quarter. California State Teachers Retirement System increased its stake 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 worth $4,469,000 after buying an additional 3,917 shares during the last quarter. Rhumbline Advisers increased its stake in Infinera Corp. by 5.9% in the fourth quarter. Rhumbline Advisers now owns 139,680 shares of the company’s stock worth $2,531,000 after buying an additional 7,785 shares during the last quarter. Wells Fargo & Company MN increased 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 during the last quarter. Finally, Dai Ichi Life Insurance CO. LTD. increased its stake 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 worth $2,824,000 after buying an additional 38,284 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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