Be sure to check out our detailed stock analysis (click here). Billionaire Ken Griffin now owns over 5.17 million shares of one of the most under rated communications companies around, Ciena Corporation (NASDAQ: CIEN). In a filing with the SEC, Griffin disclosed that he and his hedge fund, Citadel Advisors, upped their stake in Ciena by five fold and now owns 5.1% of the company. Ciena, is well positioned in the telecommunications equipment industry to meet the rising demand of bandwidth requirements -- more people using more data means a higher revenues Ciena (check out Griffin's latest picks).
Ciena is a provider of communications networking equipment, software and services for transporting and aggregating voice, video and data traffic worldwide. Its largest segment includes its optical transport solutions (60% of revenues). This segment also includes operating systems software and certain software features.