On May 30, 2023 at 09:48:02 ET an unusually large $120.00K block of Call contracts in Infinera (INFN) was bought, with a strike price of $5.00 / share, expiring in 52 day(s) (on July 21, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 2.45 sigmas above the mean, placing it in the 100.00th percentile of all recent large trades made in INFN options.

This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.

What is the Fund Sentiment?

There are 426 funds or institutions reporting positions in Infinera. This is an increase of 16 owner(s) or 3.90% in the last quarter. Average portfolio weight of all funds dedicated to INFN is 0.18%, an increase of 12.95%. Total shares owned by institutions increased in the last three months by 2.97% to 251,160K shares. The put/call ratio of INFN is 0.45, indicating a bullish outlook.

Analyst Price Forecast Suggests 83.62% Upside

As of May 11, 2023, the average one-year price target for Infinera is 9.03. The forecasts range from a low of 5.05 to a high of $15.75. The average price target represents an increase of 83.62% from its latest reported closing price of 4.92.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Infinera is 1,693MM, an increase of 4.09%. The projected annual non-GAAP EPS is 0.31.

What are Other Shareholders Doing?

Oaktree Capital Management holds 25,175K shares representing 11.16% ownership of the company. No change in the last quarter.

Shapiro Capital Management holds 15,005K shares representing 6.65% ownership of the company. In it’s prior filing, the firm reported owning 14,875K shares, representing an increase of 0.87%. The firm increased its portfolio allocation in INFN by 11.06% over the last quarter.

Brown Advisory holds 12,489K shares representing 5.54% ownership of the company. In it’s prior filing, the firm reported owning 11,276K shares, representing an increase of 9.71%. The firm decreased its portfolio allocation in INFN by 44.26% over the last quarter.

FDGRX – Fidelity Growth Company Fund holds 10,666K shares representing 4.73% ownership of the company. In it’s prior filing, the firm reported owning 10,818K shares, representing a decrease of 1.43%. The firm increased its portfolio allocation in INFN by 6.03% over the last quarter.

Greenhouse Funds LLLP holds 8,048K shares representing 3.57% ownership of the company. In it’s prior filing, the firm reported owning 7,486K shares, representing an increase of 6.98%. The firm increased its portfolio allocation in INFN by 13.68% over the last quarter.

Infinera Background Information
(This description is provided by the company.)

Infinera is a global supplier of innovative networking solutions that enable carriers, cloud operators, governments, and enterprises to scale network bandwidth, accelerate service innovation, and automate network operations. The Infinera end-to-end packet optical portfolio delivers industry-leading economics and performance in long-haul, submarine, data center interconnect, and metro transport applications.

Key filings for this company:

• UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K

This article originally appeared on Fintel

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