Ciena Corporation’s (CIEN) WaveLogic 6 technology is adopted by Boldyn Networks to enhance its fiber network in New York and New Jersey through a scalable wavelength service that delivers up to 1.6Tb/s per channel. Boldyn Networks is a prominent neutral host provider delivering advanced shared network infrastructure , with operations in North America, Europe and Asia.Being among the first to implement this technology, Boldyn Networks significantly boosts its network capacity and efficiency to meet the risin ...

Advanced network enhancements powered by Ciena's WaveLogic 6 coherent optical technology benefits carriers, enterprises and hyperscalers with reliable, high-speed connections between data centersNEW YORK, Oct. 21, 2024 /PRNewswire/ -- Boldyn Networks (Boldyn), one of the world's largest shared network infrastructure providers, today announced the deployment of scalable wavelength service up to 1.6Tb/s per channel across its fiber network in New York and New Jersey. Boldyn is one of the first in the world to ...

Core Viewpoint - Ciena, an optical networking company, has seen a significant stock price increase of 35% over the past three months despite a decline in revenue and earnings in Q3 of fiscal 2024, driven by optimism regarding a rebound in telecommunications spending and the growing adoption of artificial intelligence (AI) [1][2]. Financial Performance - Ciena's revenue in fiscal Q3 fell 12% year-over-year to $942 million, with non-GAAP net income dropping 41% to $0.35 per share [2]. - The company's optical networking revenue decreased by 15%, while routing and switching revenue fell by 27% [2]. - Global telecom spending declined by 17% in the first half of 2024, impacting Ciena's order book and margins [2]. Market Outlook - Dell'Oro estimates a telecom spending decline of 8% to 10% in 2024, but Citigroup anticipates a 3% increase in North American telecommunications spending in 2025 [3]. - Ciena reported a book-to-bill ratio of over 1 in fiscal Q3, indicating strong demand for its offerings [3]. Inventory and Guidance - Ciena's inventory decreased to $937 million from $1.2 billion year-over-year, suggesting improved business conditions [4]. - The company forecasts revenue of $1.1 billion for the current quarter, indicating a flat year-over-year performance, and an adjusted gross margin in the low to mid-40% range [4]. AI Adoption Impact - Analysts from Morgan Stanley and Jefferies have raised their price targets for Ciena, citing the potential impact of AI on its business, with Jefferies increasing its target to $80 [5][6]. - The demand for faster connectivity in AI data centers is expected to create growth opportunities for Ciena, with global data center bandwidth projected to increase more than fourfold from 2023 to 2027 [6][7]. Future Earnings Potential - Ciena's earnings are expected to grow significantly, with projections of $3.39 per share in fiscal 2026, potentially leading to a stock price of $85 if trading at 25 times earnings [8]. - The company is currently trading at 2.5 times sales and 25 times forward earnings, indicating an attractive investment opportunity for those looking to capitalize on AI growth [8].

Ciena Corporation (CIEN) has announced that On Net Fibra Colombia (ON NET FIBRA) is utilizing automation software from Blue Planet, a division of Ciena, to facilitate its transition to a cloud-native Operations Support System (OSS). The adoption of the Blue Planet Cloud Native Platform enables ON NET FIBRA to streamline service delivery with advanced inventory, orchestration and assurance applications built on this platform, enhancing customer connectivity and improving operational efficiency. On Net Fibra ...

The artificial intelligence (AI) boom has been underway throughout 2024 despite many legacy technologies still undergoing normalization after a fantastic post-pandemic reopening surge in 2021. The acceleration of AI deployment is helping to lift legacy technologies like cloud computing, virtualization, networking, and hard disk drives (HDDs) as enterprises work through the inventory glut. Here are two computer and technology sector stocks that are gaining from AI demand and seeing their cloud computing and ...

Ciena Corporation's (CIEN) optical technology has been deployed by Sify Technologies to link its seven Metro Area Networks throughout India. The upgrade begins with an express route connecting Mumbai and New Delhi, enhancing Sify's National Long-Distance network to support services of up to 600G. Sify is a leading provider of Information and Communication Technology (ICT) services and solutions in India. With a strong emphasis on Cloud within its offerings, Sify addresses the evolving ICT needs of the emerg ...

Ciena Corporation CIEN shares are trading lower on Monday. JP Morgan analyst Samik Chatterjee downgraded the company to Neutral from Overweight with a price target of $65. The analyst writes that the downgrade is due to current valuations overlooking key factors that limit EPS upside, including constrained telco spending, limited gross margin levers compared to peers, and lower exposure to cloud capital expenditures. Chatterjee says that the capex growth outlook for U.S. telcos is muted for 2025, with inter ...

Ciena Today CIEN Ciena $64.07 -2.62 (-3.93%) 52-Week Range $39.94 ▼ $66.78 P/E Ratio 61.61 Price Target $61.00 Add to Watchlist Ciena Co. NYSE: CIEN can be considered a legacy company in the computer and technology sector when it comes to the Internet. It was one of the original manufacturers of optical fiber, which provided networking switches and connectivity solutions since 1992. The company has managed to stay relevant, unlike so many internet boom companies, and remains on the cutting edge of the artif ...

Core Viewpoint - Ciena's recent earnings report shows a mixed performance with a significant year-over-year decline in earnings and revenues, but some positive trends in specific segments and customer acquisitions [2][3][4]. Financial Performance - Ciena reported adjusted EPS of 35 cents for Q3 fiscal 2024, exceeding the Zacks Consensus Estimate of 26 cents, but down 40.7% year-over-year [2]. - Total revenues decreased by 11.8% year-over-year to $942.3 million, although this figure surpassed the Zacks Consensus Estimate by 1.4% [2]. Revenue Breakdown - Networking Platforms, which account for 74.2% of total revenues, saw a decline of 17.4% year-over-year to $699.5 million [5]. - Platform Software and Services revenues increased by 5.5% year-over-year to $83.2 million [5]. - Blue Planet Automation Software and Services revenues surged by 97% to $25.8 million [5]. - Global Services revenues rose by 3.5% year-over-year to $133.8 million [6]. Customer Dynamics - Non-telco customer revenues represented 46% of total revenues, with two customers contributing 26.6% of the top line [7]. - Ciena added 12 new customers for WaveLogic 5 Extreme, bringing the total to over 300 [7]. - Management anticipates growth in the fourth quarter due to increased adoption of WaveLogic 6 Extreme, with orders secured from 23 customers [8]. Margins and Expenses - Non-GAAP adjusted gross margin improved to 43.7% from 42.7% a year ago, while adjusted operating margin decreased to 8% from 12% [9]. - Adjusted operating expenses rose by 2.5% to $336 million [9]. Cash Flow and Liquidity - Ciena reported net cash used in operating activities of $159.4 million for the quarter, compared to $9 million generated in the prior year [10]. - The company had $1.2 billion in cash and investments and $1,538.3 million in net long-term debt as of July 27 [10]. - Ciena repurchased approximately 600,000 shares worth $29 million and plans to buy back a total of $250 million in shares by the end of fiscal 2024 [10]. Guidance - For Q4 fiscal 2024, management expects revenues between $1,060 million and $1,140 million, with adjusted gross margin in the low to mid 40% range [11]. Market Sentiment - Recent estimates for Ciena have trended downward, with a consensus estimate shift of -18.63% [12]. - Ciena holds a Zacks Rank 3 (Hold), indicating expectations for an in-line return in the coming months [14].

Ciena Corporation (CIEN) recently announced its board of directors' decision to buy back up to $1 billion worth of its common stock, commencing in fiscal 2025 and extending through the end of fiscal 2027. Investors cheered the development leading to a 7.4% jump in CIEN's stock price in the last trading session. The new authorization comes at a time when the company approaches the completion of its existing repurchase program, which has run successfully for the past three years. In the last reported quarter, ...