Infinera Corp. (NASDAQ:INFN) dropped 3.2% on Thursday . The company traded as low as $8.26 and last traded at $8.59, with a volume of 2,654,902 shares changing hands. The stock had previously closed at $8.87.

INFN has been the topic of a number of research analyst reports. Stifel Nicolaus dropped their price target on Infinera Corp. from $23.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, April 28th. Citigroup Inc. cut Infinera Corp. from a “buy” rating to a “neutral” rating and dropped their price target for the company from $20.00 to $17.00 in a research note on Thursday, April 28th. MKM Partners cut Infinera Corp. from a “buy” rating to a “neutral” rating and dropped their price target for the company from $21.00 to $15.00 in a research note on Thursday, April 28th. Jefferies Group restated a “buy” rating on shares of Infinera Corp. in a research note on Thursday, April 28th. Finally, Drexel Hamilton restated a “buy” rating on shares of Infinera Corp. in a research note on Thursday, April 28th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $15.14.

The stock has a market cap of $1.23 billion and a PE ratio of 28.51. The stock’s 50 day moving average is $10.29 and its 200 day moving average is $12.92.

Infinera Corp. (NASDAQ:INFN) last announced its earnings results on Wednesday, July 27th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.03. The firm earned $258.82 million during the quarter, compared to the consensus estimate of $255.83 million. During the same period in the prior year, the company posted $0.18 EPS. The firm’s revenue was up 24.8% on a year-over-year basis. Equities research analysts predict that Infinera Corp. will post $0.42 EPS for the current year.

In other news, CFO Brad Feller bought 20,000 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The stock was purchased at an average price of $8.60 per share, with a total value of $172,000.00. Following the transaction, the chief financial officer now owns 109,586 shares of the company’s stock, valued at $942,439.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John Daane bought 12,000 shares of the firm’s stock in a transaction dated Monday, August 1st. The stock was purchased at an average cost of $8.49 per share, with a total value of $101,880.00. Following the transaction, the director now directly owns 12,000 shares in the company, valued at approximately $101,880. The disclosure for this purchase can be found here.

An institutional investor recently raised its position in Infinera Corp. stock. King Luther Capital Management Corp boosted its stake in Infinera Corp. (NASDAQ:INFN) by 0.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,417,325 shares of the company’s stock after buying an additional 4,245 shares during the period. King Luther Capital Management Corp owned approximately 1.01% of Infinera Corp. worth $25,682,000 as of its most recent filing with the SEC.

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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