Infinera Corp. (INFN) Insider Sells $731,200.00 in Stock
Infinera Corp. (NASDAQ:INFN) insider David F. Welch sold 80,000 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $9.14, for a total transaction of $731,200.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Shares of Infinera Corp. (NASDAQ INFN) traded up $0.12 during midday trading on Wednesday, reaching $9.56. 1,949,611 shares of the company’s stock were exchanged, compared to its average volume of 2,010,000. Infinera Corp. has a 1 year low of $6.10 and a 1 year high of $12.38. The company has a market capitalization of $1,430.00, a PE ratio of -7.30 and a beta of 1.24.
Infinera (NASDAQ:INFN) last issued its earnings results on Wednesday, February 7th. The communications equipment provider reported ($0.12) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.01. Infinera had a negative net margin of 26.26% and a negative return on equity of 16.77%. The firm had revenue of $195.82 million for the quarter, compared to analysts’ expectations of $190.26 million. During the same quarter last year, the company posted ($0.12) earnings per share. Infinera’s revenue was up 8.2% on a year-over-year basis. analysts forecast that Infinera Corp. will post -0.43 EPS for the current year.
Several brokerages have recently commented on INFN. BidaskClub raised shares of Infinera from a “strong sell” rating to a “sell” rating in a research report on Wednesday, February 7th. Zacks Investment Research raised shares of Infinera from a “sell” rating to a “hold” rating in a research report on Tuesday. B. Riley increased their price target on shares of Infinera from $10.75 to $11.00 and gave the stock a “buy” rating in a research report on Thursday, February 8th. ValuEngine raised shares of Infinera from a “sell” rating to a “hold” rating in a research report on Thursday, February 8th. Finally, Northland Securities raised shares of Infinera from a “market perform” rating to an “outperform” rating and set a $11.00 price target on the stock in a research report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $11.27.
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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.
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