Shares of Infinera Corp. (NASDAQ:INFN) gapped up prior to trading on Monday . The stock had previously closed at $12.09, but opened at $12.11. Infinera Corp. shares last traded at $12.29, with a volume of 1,699,796 shares.

INFN has been the topic of a number of analyst reports. Jefferies Group reaffirmed a “buy” rating and issued a $22.50 price objective on shares of Infinera Corp. in a report on Sunday, March 27th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Infinera Corp. in a report on Monday, March 28th. Drexel Hamilton began coverage on shares of Infinera Corp. in a report on Friday, April 8th. They issued a “buy” rating and a $22.00 price objective on the stock. Citigroup Inc. reiterated a “buy” rating and issued a $20.00 target price on shares of Infinera Corp. in a research report on Sunday, April 10th. Finally, Goldman Sachs Group Inc. upgraded shares of Infinera Corp. from a “sell” rating to a “neutral” rating and set a $16.00 target price for the company in a research report on Friday, April 15th. They noted that the move was a valuation call. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Infinera Corp. presently has a consensus rating of “Buy” and a consensus price target of $20.07.

The stock has a market capitalization of $1.77 billion and a P/E ratio of 35.77. The company has a 50-day moving average of $11.85 and a 200 day moving average of $13.80.

Infinera Corp. (NASDAQ:INFN) last posted its quarterly earnings data 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. The firm earned $244.82 million during the quarter, compared to analysts’ expectations of $246.15 million. Infinera Corp.’s revenue for the quarter was up 31.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 earnings per share. On average, equities analysts predict that Infinera Corp. will post $0.84 EPS for the current year.

In other news, CFO Brad Feller acquired 25,000 shares of the business’s stock in a transaction dated Tuesday, May 3rd. The stock was purchased at an average cost of $11.75 per share, for a total transaction of $293,750.00. Following the acquisition, the chief financial officer now owns 86,628 shares of the company’s stock, valued at $1,017,879. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas J. Fallon acquired 100,000 shares of the business’s stock in a transaction dated Tuesday, May 3rd. The stock was purchased 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.

Several institutional investors have recently bought and sold shares of INFN. 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 worth $2,531,000 after buying an additional 7,785 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Infinera Corp. by 22.3% in the fourth quarter. Wells Fargo & Company MN now owns 2,178,811 shares of the company’s stock valued at $39,480,000 after buying an additional 397,744 shares in the last quarter. Dai Ichi Life Insurance CO. LTD. boosted its stake 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. 1492 Capital Management LLC bought a new stake in shares of Infinera Corp. during the fourth quarter valued at $2,259,000. Finally, Nichols Asset Management LLC boosted its stake in shares of Infinera Corp. by 29.2% in the fourth quarter. Nichols Asset Management LLC now owns 478,729 shares of the company’s stock valued at $8,675,000 after buying an additional 108,138 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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