On September 11, Ciena rose 5.16% in regular trading, trading at $352.33 per share, with turnover of $239 million. The rally extends a series of gains driven by a major Goldman Sachs report and strong fiscal Q3 results.

On the news front, Goldman Sachs recently published a deep-dive report on the global optical module industry, raising its market size forecast by 115% to approximately $148.5 billion by 2028. Shipment projections for 1.6T and above ultra-high-speed optical modules were increased by 29% to 61%. As a leading global optical networking equipment provider, Ciena stands as a direct beneficiary of the expanding addressable market.

Further underpinning the stock, Ciena reported fiscal Q3 adjusted EPS of $2.11, beating the consensus estimate of $1.73 by roughly 22% and surging 215% year-over-year. Revenue of $1.67 billion also topped expectations. The company raised its full-year revenue guidance to $6.42 billion, above the Street estimate of $6.34 billion. Multiple analysts maintain overweight ratings, with a mean price target near $520.

Within the Communication Equipment sector, Arista Networks rose 4.76%, Nokia rose 3.72%, Cisco rose 3.67%, Applied Optoelectronics rose 2.62%, and Lumentum rose 0.25%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)