Shares of Infinera Corp. (NASDAQ:INFN) fell 2.2% during mid-day trading on Thursday . The stock traded as low as $8.86 and last traded at $8.89, with a volume of 1,998,355 shares changing hands. The stock had previously closed at $9.09.

Several brokerages recently issued reports on INFN. Jefferies Group restated a “buy” rating on shares of Infinera Corp. in a report on Saturday, May 14th. B. Riley began coverage on shares of Infinera Corp. in a report on Thursday, July 14th. They issued a “buy” rating and a $18.00 price objective on the stock. Citigroup Inc. lowered shares of Infinera Corp. to a “market perform” rating and reduced their price objective for the company from $13.00 to $10.00 in a report on Thursday, July 28th. Drexel Hamilton restated a “buy” rating on shares of Infinera Corp. in a report on Thursday, April 28th. Finally, Raymond James Financial Inc. lowered shares of Infinera Corp. from an “outperform” rating to a “market perform” rating in a report on Thursday, July 28th. Twelve equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $15.29.

The stock’s 50-day moving average price is $10.44 and its 200 day moving average price is $13.06. The firm has a market capitalization of $1.29 billion and a PE ratio of 29.93.

Infinera Corp. (NASDAQ:INFN) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.03. During the same period in the previous year, the business posted $0.18 earnings per share. The business earned $258.82 million during the quarter, compared to analyst estimates of $255.83 million. The firm’s quarterly revenue was up 24.8% on a year-over-year basis. On average, analysts anticipate that Infinera Corp. will post $0.43 EPS for the current fiscal year.

In other news, CFO Brad Feller acquired 20,000 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The shares were bought at an average cost of $8.60 per share, for a total transaction of $172,000.00. Following the acquisition, the chief financial officer now directly owns 109,586 shares in the company, valued at approximately $942,439.60. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Marcel Gani acquired 50,000 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The stock was purchased at an average price of $8.60 per share, for a total transaction of $430,000.00. Following the completion of the acquisition, the director now owns 87,547 shares in the company, valued at $752,904.20. The disclosure for this purchase can be found here.

Several institutional investors have recently added to or reduced their stakes in INFN. Coe Capital Management LLC increased its position in Infinera Corp. by 27.5% in the fourth quarter. Coe Capital Management LLC now owns 175,390 shares of the company’s stock worth $3,178,000 after buying an additional 37,836 shares during the period. Marshall Wace LLP increased 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 worth $4,424,000 after buying an additional 103,545 shares during the period. Finally, King Luther Capital Management Corp increased its position in Infinera Corp. by 0.3% in the fourth quarter. King Luther Capital Management Corp now owns 1,417,325 shares of the company’s stock worth $25,682,000 after buying an additional 4,245 shares during the period.

Infinera Corporation is a provider of optical transport networking systems to service providers. The Company operates through optical transport networking systems segment. The Company serves Tier 1 and Tier 2 telecommunications service providers, Internet content providers, cable operators, wholesale and enterprise carriers, research and education institutions and government entities around the world.

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