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

A number of research analysts have issued reports on the stock. Nomura assumed coverage on shares of Infinera Corp. in a research note on Friday, June 3rd. They set a “buy” rating and a $17.00 price target on the stock. Jefferies Group restated a “buy” rating and set a $18.00 price target on shares of Infinera Corp. in a research note on Wednesday, June 1st. MKM Partners restated a “hold” rating on shares of Infinera Corp. in a research note on Thursday, May 26th. Citigroup Inc. lowered shares of Infinera Corp. to a “market perform” rating and cut their price target for the company from $13.00 to $10.00 in a research note on Thursday, July 28th. Finally, Zacks Investment Research lowered shares of Infinera Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, July 27th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $15.14.

The company has a market cap of $1.24 billion and a price-to-earnings ratio of 28.58. The stock’s 50-day moving average is $10.17 and its 200-day moving average is $12.85.

Infinera Corp. (NASDAQ:INFN) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.03. The company had revenue of $258.82 million for the quarter, compared to analysts’ expectations of $255.83 million. The firm’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.18 EPS. On average, analysts predict that Infinera Corp. will post $0.43 EPS for the current year.

In related news, CFO Brad Feller acquired 20,000 shares of Infinera Corp. stock in a transaction dated Tuesday, August 2nd. The stock was acquired at an average price of $8.60 per share, for a total transaction 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John Daane acquired 12,000 shares of Infinera Corp. stock in a transaction dated Monday, August 1st. The shares were bought at an average price 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.

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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