On April 11, 2023 at 10:40:45 ET an unusually large $110.50K block of Put contracts in Infinera (INFN) was bought, with a strike price of $6.00 / share, expiring in 248 days (on December 15, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 1.74 sigmas above the mean, placing it in the 99.53 percentile of all recent large trades made in INFN options.
This trade was first picked up on Fintel’s real time Unusual Option Trades tool, where unusual option trades are highlighted.
Analyst Price Forecast Suggests 27.50% Upside
As of April 6, 2023, the average one-year price target for Infinera is $9.37. The forecasts range from a low of $5.05 to a high of $15.75. The average price target represents an increase of 27.50% from its latest reported closing price of $7.35.
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The projected annual revenue for Infinera is $1,693MM, an increase of 7.61%. The projected annual non-GAAP EPS is $0.31.
What is the Fund Sentiment?
There are 417 funds or institutions reporting positions in Infinera. This is an increase of 17 owner(s) or 4.25% in the last quarter. Average portfolio weight of all funds dedicated to INFN is 0.19%, an increase of 12.44%. Total shares owned by institutions increased in the last three months by 2.64% to 244,640K shares. The put/call ratio of INFN is 0.24, indicating a bullish outlook.
What are Large Shareholders Doing?
Oaktree Capital Management holds 25,175K shares representing 11.31% ownership of the company. No change in the last quarter.
Shapiro Capital Management holds 14,875K shares representing 6.68% ownership of the company. In it’s prior filing, the firm reported owning 17,924K shares, representing a decrease of 20.50%. The firm increased its portfolio allocation in INFN by 3.89% over the last quarter.
Brown Advisory holds 11,276K shares representing 5.06% ownership of the company. In it’s prior filing, the firm reported owning 11,269K shares, representing an increase of 0.06%. The firm increased its portfolio allocation in INFN by 33.07% over the last quarter.
FDGRX – Fidelity Growth Company Fund holds 10,818K shares representing 4.86% ownership of the company. In it’s prior filing, the firm reported owning 11,190K shares, representing a decrease of 3.44%. The firm increased its portfolio allocation in INFN by 21.59% over the last quarter.
Greenhouse Funds LLLP holds 7,486K shares representing 3.36% ownership of the company. In it’s prior filing, the firm reported owning 7,208K shares, representing an increase of 3.72%. The firm increased its portfolio allocation in INFN by 15.61% 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.
This article originally appeared on Fintel
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