Infinera Corp. (NASDAQ:INFN) traded up 5.4% during mid-day trading on Friday . The stock traded as high as $8.81 and last traded at $8.76, with a volume of 9,771,877 shares. The stock had previously closed at $8.31.

Several equities research analysts have issued reports on the company. Jefferies Group restated a “buy” rating on shares of Infinera Corp. in a report on Thursday, April 28th. Stifel Nicolaus dropped their price objective on Infinera Corp. from $23.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, April 28th. Citigroup Inc. downgraded Infinera Corp. from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $20.00 to $17.00 in a report on Thursday, April 28th. MKM Partners downgraded Infinera Corp. from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $21.00 to $15.00 in a report on Thursday, April 28th. Finally, Goldman Sachs Group Inc. upgraded Infinera Corp. from a “sell” rating to a “neutral” rating and set a $16.00 price objective on the stock in a report on Friday, April 15th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $16.27.

The stock has a 50-day moving average price of $11.55 and a 200 day moving average price of $13.67. The firm has a market capitalization of $1.24 billion and a P/E ratio of 25.03.

Infinera Corp. (NASDAQ:INFN) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.03. The company earned $258.82 million during the quarter, compared to the consensus estimate of $255.83 million. The firm’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.18 earnings per share. Equities research analysts expect that Infinera Corp. will post $0.80 earnings per share for the current fiscal year.

In other Infinera Corp. news, CFO Brad Feller acquired 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 3rd. The shares were acquired at an average price of $11.75 per share, with a total value of $293,750.00. Following the purchase, the chief financial officer now owns 86,628 shares of the company’s stock, valued at approximately $1,017,879. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas J. Fallon acquired 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 3rd. The shares were acquired at an average cost of $11.95 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 modified their holdings of the company. Rhumbline Advisers increased its stake 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 during the last quarter. Wells Fargo & Company MN increased 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 during the last quarter. Dai Ichi Life Insurance CO. LTD. increased 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 during the last quarter. 1492 Capital Management LLC acquired a new stake in shares of Infinera Corp. during the fourth quarter valued at approximately $2,259,000. Finally, Nichols Asset Management LLC increased 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 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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