5 Gems from Peconic Partners’ Strong Technology Portfolio

#3 Ciena Corporation (NYSE:CIEN)

 – Shares held (as of September 30): 531,300

 – Total Value (as of September 30): $11 million

After being slashed by 36% during the July-to-September period, Peconic’s position in Ciena Corporation (NYSE:CIEN) represented 1.8% of the fund’s portfolio. Although still up by 3.27% on a year-to-date basis, Ciena’s stock has crumbled by 16% on Wednesday, owing to the soft guidance provided by the company’s management. Revenue for the first quarter of fiscal year 2016 are expected to be in the $555 million-to-$590 million range, as opposed to expectations of $637 million. However, the company managed to beat both the top and bottom line estimates in its financial results for the fourth quarter of fiscal year 2015. Israel Englander’s Millennium Management is the largest stockholder of Ciena Corporation (NYSE:CIEN) within our database as it owns about 1.89 million shares of the company.

Follow Ciena Corp (NYSE:CIEN)

#2 Infinera Corp. (NASDAQ:INFN)

 – Shares held (as of September 30): 1.55 million

 – Total Value (as of September 30): $30.34 million

The $3.01 billion company engaged in transport networking systems has seen its stock surge by a staggering 40.7% this year. Peconic has remained bullish on the company since it initiated a position in it during the first quarter of this year, having boosted the stake by 13% in the third quarter. Infinera Corp. (NASDAQ:INFN) also beat both the top and bottom line estimates in its latest financial results, for the third quarter, and provided revenue guidance of $253 million-to-$263 million, which was above the $250 million mark anticipated by analysts. Fourth quarter EPS is expected to fall in the $0.19-to-$0.23 range, compared to the $0.19 estimate. Donald Chiboucis‘ Columbus Circle Investors held about 2.55 million shares of Infinera Corp. (NASDAQ:INFN) at the end of the third quarter.

Follow Infinera Corp (NASDAQ:INFN)

#1 Mobileye NV (NYSE:MBLY),

 – Shares held (as of September 30): 808,430

 – Total Value (as of September 30): $36.77 million

Peconic significantly hiked its stake in Mobileye NV (NYSE:MBLY), by 70% during the third trimester. The stock price of the $9.25 billion software development company has appreciated by a meagre 0.7% over the last 12 months, while the software industry has posted average gains of 10.3% during this period. The company was recently initiated at Evercore ISI with a ‘Buy’ rating and a price target of $68, which suggests immense upside of 58%. Stephen Mandel‘s Lone Pine Capital held about 6.39 million shares of Mobileye NV (NYSE:MBLY) on September 30.

Disclosure: None