Infinera Corp. (NASDAQ:INFN) was up 2% during trading on Thursday . The stock traded as high as $8.77 and last traded at $8.75, with a volume of 978,383 shares. The stock had previously closed at $8.58.

Several equities research analysts recently commented on INFN shares. Raymond James Financial Inc. cut Infinera Corp. from an “outperform” rating to a “market perform” rating in a report on Thursday, July 28th. Citigroup Inc. cut Infinera Corp. from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $10.00 to $8.00 in a report on Thursday, August 25th. Northland Securities cut Infinera Corp. from an “outperform” rating to a “market perform” rating in a report on Thursday, July 28th. Needham & Company LLC restated a “strong-buy” rating and issued a $15.00 price target on shares of Infinera Corp. in a research report on Tuesday, August 23rd. Finally, Nomura restated a “buy” rating and issued a $17.00 price target on shares of Infinera Corp. in a research report on Thursday, June 23rd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Infinera Corp. has an average rating of “Hold” and a consensus target price of $15.14.

The firm has a market capitalization of $1.27 billion and a price-to-earnings ratio of 29.30. The stock’s 50 day moving average is $9.79 and its 200-day moving average is $12.70.

Infinera Corp. (NASDAQ:INFN) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.03. The business earned $258.82 million during the quarter, compared to analyst estimates of $255.83 million. During the same quarter in the prior year, the company earned $0.18 earnings per share. The company’s quarterly revenue was up 24.8% on a year-over-year basis. On average, equities research analysts forecast that Infinera Corp. will post $0.42 earnings per share for the current year.

In related news, CEO Thomas J. Fallon acquired 100,000 shares of the stock in a transaction dated Monday, August 1st. The stock was bought at an average price of $8.54 per share, with a total value of $854,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Daane acquired 12,000 shares of the stock in a transaction dated Monday, August 1st. The shares were bought 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 of the company’s stock, valued at $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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