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
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