Infinera Corporation (NASDAQ:INFN) President David F. Welch sold 20,000 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $9.02, for a total value of $180,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Infinera Corporation (INFN) opened at 8.76 on Friday. The stock’s market capitalization is $1.30 billion. The stock has a 50 day moving average price of $8.52 and a 200 day moving average price of $9.94. Infinera Corporation has a 52 week low of $7.23 and a 52 week high of $12.50.

Infinera Corporation (NASDAQ:INFN) last posted its quarterly earnings data on Thursday, August 3rd. The communications equipment provider reported ($0.24) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.01). The company had revenue of $176.28 million for the quarter, compared to analysts’ expectations of $181.16 million. Infinera Corporation had a negative net margin of 18.18% and a negative return on equity of 12.39%. The firm’s revenue was down 31.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.21 earnings per share. Equities analysts forecast that Infinera Corporation will post ($0.56) EPS for the current year.

TRADEMARK VIOLATION NOTICE: “David F. Welch Sells 20,000 Shares of Infinera Corporation (INFN) Stock” was published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this article on another site, it was illegally copied and reposted in violation of international trademark and copyright law. The legal version of this article can be accessed at https://www.thecerbatgem.com/2017/10/06/david-f-welch-sells-20000-shares-of-infinera-corporation-infn-stock.html.

INFN has been the subject of a number of research analyst reports. Northland Securities set a $7.00 price target on Infinera Corporation and gave the company a “hold” rating in a research note on Tuesday, July 4th. BidaskClub upgraded Infinera Corporation from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 15th. Deutsche Bank AG decreased their price target on Infinera Corporation from $12.50 to $12.00 and set a “buy” rating for the company in a research note on Monday, August 7th. Needham & Company LLC increased their price target on Infinera Corporation from $13.50 to $14.50 and gave the company a “strong-buy” rating in a research note on Monday, June 19th. Finally, Craig Hallum initiated coverage on Infinera Corporation in a research note on Tuesday, July 18th. They issued a “buy” rating and a $15.00 price target for the company. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $11.82.

A number of institutional investors and hedge funds have recently bought and sold shares of INFN. First Trust Advisors LP raised its stake in Infinera Corporation by 39.4% during the 1st quarter. First Trust Advisors LP now owns 219,796 shares of the communications equipment provider’s stock valued at $2,249,000 after acquiring an additional 62,105 shares during the last quarter. Comerica Bank purchased a new stake in Infinera Corporation during the 1st quarter valued at approximately $943,000. Swiss National Bank raised its stake in Infinera Corporation by 5.0% during the 1st quarter. Swiss National Bank now owns 239,100 shares of the communications equipment provider’s stock valued at $2,446,000 after acquiring an additional 11,300 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in Infinera Corporation by 42.0% during the 1st quarter. UBS Asset Management Americas Inc. now owns 71,753 shares of the communications equipment provider’s stock valued at $734,000 after acquiring an additional 21,217 shares during the last quarter. Finally, Karp Capital Management Corp purchased a new stake in Infinera Corporation during the 1st quarter valued at approximately $106,000. 86.67% of the stock is owned by hedge funds and other institutional investors.

About Infinera Corporation

Infinera Corporation provides optical transport networking equipment, software and services to telecommunications service providers, Internet content providers (ICPs), cable providers, wholesale and enterprise carriers, research and education institutions, enterprise customers and government entities across the globe.

Receive News & Stock Ratings for Infinera Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Infinera Corporation and related stocks with our FREE daily email newsletter.