Ciena Corp (CIEN)

[Slim6]

Rather ugly financials from CIEN. With EPS around $2.50 per share per year (optimistic non-GAAP numbers), and growth slowing, earnings actually going down from prior year (in reality), one would expect a P/E of 15 of so.
This would put a reasonably optimistic stock price for CIEN at $38 per share.
So CIEN looks quite a bit overvalued at this point. I would wait for it to drop another 40% from these current, near-peak, overvalued levels.