The stock of Ciena Corporation (NYSE:CIEN) is a huge mover today! About 1.71 million shares traded hands. Ciena Corporation (NYSE:CIEN) has risen 2.32% since March 2, 2016 and is uptrending. It has underperformed by 5.94% the S&P500.
The move comes after 5 months positive chart setup for the $3.07B company. It was reported on Oct, 5 by Barchart.com. We have $27.45 PT which if reached, will make NYSE:CIEN worth $736.80 million more.
Ciena Corporation (NYSE:CIEN) Ratings Coverage
Out of 11 analysts covering Ciena (NYSE:CIEN), 7 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 64% are positive. Ciena has been the topic of 26 analyst reports since August 18, 2015 according to StockzIntelligence Inc. The stock of Ciena Corporation (NYSE:CIEN) earned “Buy” rating by M Partners on Monday, June 6. The company was downgraded on Friday, September 2 by Morgan Stanley. The firm has “Market Perform” rating given on Tuesday, August 18 by Northland Capital. RBC Capital Markets maintained Ciena Corporation (NYSE:CIEN) rating on Friday, December 11. RBC Capital Markets has “Outperform” rating and $25.0 price target. The firm has “Neutral” rating by Citigroup given on Wednesday, January 27. The rating was maintained by Jefferies on Monday, December 14 with “Hold”. Raymond James upgraded the shares of CIEN in a report on Wednesday, August 26 to “Mkt Perform” rating. The stock has “Hold” rating given by Deutsche Bank on Friday, June 3. On Thursday, August 25 the stock rating was maintained by Citigroup with “Hold”. The rating was maintained by Deutsche Bank with “Hold” on Friday, December 11.
According to Zacks Investment Research, “Ciena Corporation is the network specialist, focused on expanding the possibilities for its customers’ networks while reducing their cost of ownership. The Company’s systems, software and services target and cure specific network pain points so that telcos, cable operators, governments and enterprises can best exploit the new applications that are driving their businesses forward.”
Insitutional Activity: The institutional sentiment is 0.91 in 2016 Q2. Its the same as in 2016Q1. The ratio is flat, as 46 funds sold all Ciena Corporation shares owned while 91 reduced positions. only 47 funds bought stakes while 77 increased positions. They now own 126.21 million shares or 7.77% less from 136.85 million shares in 2016Q1.
Shelton Capital Mngmt holds 0.02% of its portfolio in Ciena Corporation (NYSE:CIEN) for 11,260 shares. Clarivest Asset Mgmt Limited Liability holds 0.06% or 100,418 shares in its portfolio. Tower Ltd Com (Trc) has 30,319 shares for 0.05% of their US portfolio. Savings Bank Of Montreal Can has 0% invested in the company for 50,984 shares. Alliancebernstein Limited Partnership has 0% invested in the company for 222,628 shares. Argent Lc has invested 1.43% of its portfolio in Ciena Corporation (NYSE:CIEN). Tudor Inv Corp Et Al has invested 0.01% of its portfolio in Ciena Corporation (NYSE:CIEN). Paradigm Capital Management Incorporated Ny holds 71,000 shares or 0.16% of its portfolio. Arizona State Retirement Systems last reported 0.02% of its portfolio in the stock. Retirement Of Alabama holds 0.02% or 166,786 shares in its portfolio. Victory Cap Mgmt Incorporated holds 0.2% or 2.66M shares in its portfolio. Ls Invest Llc reported 7,664 shares or 0.01% of all its holdings. Alyeska Gru Lp has invested 0.35% of its portfolio in Ciena Corporation (NYSE:CIEN). Whittier Tru Of Nevada holds 27 shares or 0% of its portfolio. Moreover, Carlson Cap Limited Partnership has 0.85% invested in Ciena Corporation (NYSE:CIEN) for 3.65 million shares.
Insider Transactions: Since April 7, 2016, the stock had 0 insider buys, and 47 sales for $4.41 million net activity. 2,000 shares were sold by MOYLAN JAMES E JR, worth $37,100 on Thursday, July 28. Starke Marcus H sold $72,812 worth of stock. 3,970 Ciena Corporation (NYSE:CIEN) shares with value of $83,370 were sold by FRODSHAM JAMES. Another trade for 8,000 shares valued at $157,580 was made by SMITH GARY B on Wednesday, July 27. The insider Rothenstein David M sold $79,760. 624 shares were sold by PETRIK ANDREW C, worth $13,817. 3,500 Ciena Corporation (NYSE:CIEN) shares with value of $70,000 were sold by GALLAGHER PATRICK.
CIEN Company Profile
Ciena Corporation (Ciena), incorporated on November 2, 1992, is a well-known provider of communications networking equipment, software and services that support the transport, switching, aggregation and management of voice, video and data traffic. The Company’s packet-optical transport, packet-optical switching and carrier Ethernet service delivery products are used, individually or as part of an integrated solution, in networks operated by communications service providers, cable operators, governments and enterprises globally. The Company’s communications networking products, through their embedded software and its network management software suites, enable network operators to deliver enterprise and consumer-oriented communication services. The Firm operates in four divisions: converged packet optical, packet networking, optical transport, and software and services. The Company’s service well-known provider clients include regional, national and international, wire line and wireless carriers. The Company’s cable operator clients include cable and multiservice operators in the United States and internationally. The Company’s enterprise clients include multi-site commercial organizations, including participants in the financial, healthcare, transportation, utilities and retail industries. The Company’s government clients include federal and state agencies in the United States, as well as government entities outside of the United States.
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