10 Best Stocks to Buy According to Howard Marks’ Oaktree Capital Management

5. Infinera Corporation (NASDAQ:INFN)

Oaktree Capital Management’s Q4 Stake: $165.4 million

Number of Hedge Fund Holders: 26

Infinera Corporation (NASDAQ:INFN), now a part of Nokia, is a San Jose, California-based vertically integrated provider of open optical networking solutions and advanced optical transmission equipment. It also manufactures IP transport solutions for the telecoms service provider sector.

For the fourth quarter of 2024, Infinera Corporation (NASDAQ:INFN) reported GAAP revenues of $414.4 million, down from $453.5 million in the same period of 2023. The GAAP gross margin for the quarter was 38.0%, significantly lower than 38.6% in Q4 2023. GAAP revenue for the full fiscal year 2024 was $1,418.4 million, a decrease from $1,614.1 million in 2023. That said, the company produced record revenue with webscalers, accounting for more than half of total revenue exposure (direct and indirect) in the year. The company has earned important design wins throughout the GX systems portfolio with webscalers and Tier 1 Communications Service Providers (CSPs).