NEVENS THOMAS MICHAEL sold $1.3M of CIEN

Space Norway has chosen Ciena (NYSE: CIEN) to upgrade its Svalbard subsea cable systems and deploy new technology on the Arctic Way system, set to launch in 2028. The project aims to extend the operational life of existing infrastructure and enhance connectivity in the Arctic. Ciena will provide design, deployment, and optical technology, including the Ciena 6500 Optical Platform and Navigator Network Control Suite, to improve network resilience and capacity.

Bank of America (BAC) projects Ciena's (CIEN) backlog to exceed $10 billion by fiscal 2026, driven by cloud customer demand. Analyst Tal Liani estimates 35%-40% revenue growth for 2026, slightly above consensus. Despite recent stock declines, BofA maintains a Buy rating and $550 price target, citing strong growth prospects in optical networking equipment for AI and cloud infrastructure.

Space Norway awarded Ciena a contract to upgrade its Svalbard subsea cables and deploy networking tech on Arctic Way, set to launch in 2028. Ciena will provide optical equipment and network control suite, aiming to reduce costs and improve performance. The upgrade complements Space Norway's satellite infrastructure for Arctic connectivity.

Ciena Corporation (NYSE: CIEN) stock rose 14.4% due to strong earnings guidance and demand for optical networking. The company reported Q2 revenue of $1.67B, net income of $266M, and free cash flow of $116M. Analysts upgraded targets, citing AI-driven growth and margin expansion. CIEN aims for 30% revenue growth through 2029. The stock trades at a premium P/E of 87.

Ciena Corp. (NYSE:CIEN) shares rose 14.3% to $445.36 after Marvell Technology projected 60-70% growth in the optical interconnects sector by 2030. Analysts like Bernstein and Evercore remain bullish, with price targets of $440 and $550 respectively. Hedge fund holdings in CIEN increased 2% QoQ to $3.997 billion.

Ciena (CIEN) stock rose 11% after setting 2029 targets: 30% revenue CAGR, 50% gross margin, 32-35% operating margin, and 20% free-cash-flow margin. Q3 revenue grew 37% YoY to $1.67B, with optical networking contributing 71.3%. The stock's $61.55B market cap implies a 21.8x multiple on implied 2029 free cash flow.