Fintel reports that on August 10, 2023, Rosenblatt maintained coverage of Infinera (NASDAQ:INFN) with a Buy recommendation.
Analyst Price Forecast Suggests 131.50% Upside
As of August 2, 2023, the average one-year price target for Infinera is 8.54. The forecasts range from a low of 5.05 to a high of $15.75. The average price target represents an increase of 131.50% from its latest reported closing price of 3.69.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Infinera is 1,693MM, an increase of 2.94%. The projected annual non-GAAP EPS is 0.31.
What is the Fund Sentiment?
There are 421 funds or institutions reporting positions in Infinera. This is an increase of 6 owner(s) or 1.45% in the last quarter. Average portfolio weight of all funds dedicated to INFN is 0.17%, a decrease of 12.43%. Total shares owned by institutions increased in the last three months by 1.74% to 249,273K shares. 
The put/call ratio of INFN is 0.17, indicating a bullish outlook.
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 increased its portfolio allocation in INFN by 16.21% over the last quarter.
FDGRX - Fidelity Growth Company Fund holds 10,556K shares representing 4.68% ownership of the company. In it's prior filing, the firm reported owning 10,666K shares, representing a decrease of 1.05%. The firm decreased its portfolio allocation in INFN by 39.01% 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.
Additional reading:
- Investor Slides dated
- Press release of Infinera Corporation dated
- Employment Agreement between Infinera Limited and Nicholas Walden dated May 31, 2023.
- Statement of Eligibility of Trustee on Form T-1
- Trust Indenture Act Cross-Reference Table to Exhibit 4.1
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
