On February 28, 2023 at 09:41:18 (ET) an unusually large $67.79K block of Call contracts in Ciena (CIEN) was bought, with a strike price of $50.00 / share, expiring in 17 days (on March 17, 2023). Fintel tracks all large options trades, and the premium spent on this trade was ? sigmas above the mean, placing it in the percentile of all recent large trades made in CIEN options.

Analyst Price Forecast Suggests 37.03% Upside

As of February 27, 2023, the average one-year price target for Ciena is $63.68. The forecasts range from a low of $45.45 to a high of $79.80. The average price target represents an increase of 37.03% from its latest reported closing price of $46.47.

The projected annual revenue for Ciena is $4,290MM, an increase of 18.10%. The projected annual EPS is $2.68, an increase of 164.54%.

What is the Fund Sentiment?

There are 958 funds or institutions reporting positions in Ciena. This is an increase of 8 owner(s) or 0.84% in the last quarter. Average portfolio weight of all funds dedicated to CIEN is 0.34%, an increase of 9.20%. Total shares owned by institutions decreased in the last three months by 1.34% to 163,908K shares. The put/call ratio of CIEN is 0.42, indicating a bullish outlook.

What are large shareholders doing?

IJH – iShares Core S&P Mid-Cap ETF holds 4,575K shares representing 3.07% ownership of the company. In it’s prior filing, the firm reported owning 4,375K shares, representing an increase of 4.37%. The firm increased its portfolio allocation in CIEN by 15.09% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 4,463K shares representing 2.99% ownership of the company. In it’s prior filing, the firm reported owning 4,478K shares, representing a decrease of 0.32%. The firm decreased its portfolio allocation in CIEN by 8.07% over the last quarter.

NAESX – Vanguard Small-Cap Index Fund Investor Shares holds 3,801K shares representing 2.55% ownership of the company. In it’s prior filing, the firm reported owning 3,836K shares, representing a decrease of 0.93%. The firm decreased its portfolio allocation in CIEN by 8.59% over the last quarter.

Bank Of America holds 3,628K shares representing 2.43% ownership of the company. In it’s prior filing, the firm reported owning 3,984K shares, representing a decrease of 9.81%. The firm decreased its portfolio allocation in CIEN by 99.89% over the last quarter.

Alliancebernstein holds 3,476K shares representing 2.33% ownership of the company. In it’s prior filing, the firm reported owning 4,412K shares, representing a decrease of 26.93%. The firm decreased its portfolio allocation in CIEN by 21.08% over the last quarter.

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

Ciena is a networking systems, services and software company. The Company provides solutions that help its customers create the Adaptive Network™ in response to the constantly changing demands of their end-users. By delivering best-in-class networking technology through high-touch consultative relationships, the Company builds the world’s most agile networks with automation, openness and scale.

This article originally appeared on Fintel

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.