Price Action Report: Is Buying Ciena Corporation Here a Winning Strategy?

Price Action Report: Is Buying Ciena Corporation Here a Winning Strategy?

The stock of Ciena Corporation (NYSE:CIEN) is a huge mover today! About 860,045 shares traded hands. Ciena Corporation (NYSE:CIEN) has risen 23.52% since April 26, 2016 and is uptrending. It has outperformed by 18.26% the S&P500.
The move comes after 6 months positive chart setup for the $2.89B company. It was reported on Nov, 29 by We have $23.01 PT which if reached, will make NYSE:CIEN worth $173.40 million more.

Analysts await Ciena Corporation (NYSE:CIEN) to report earnings on December, 8 before the open. They expect $0.39 earnings per share, up 44.44% or $0.12 from last year’s $0.27 per share. CIEN’s profit will be $51.92M for 13.92 P/E if the $0.39 EPS becomes a reality. After $0.35 actual earnings per share reported by Ciena Corporation for the previous quarter, Wall Street now forecasts 11.43% EPS growth.

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. Northland Capital upgraded the shares of CIEN in a report on Thursday, December 10 to “Outperform” rating. The stock has “Hold” rating given by Drexel Hamilton on Friday, September 2. The rating was downgraded by Morgan Stanley to “Equal-Weight” on Friday, September 2. As per Monday, December 21, the company rating was upgraded by Jefferies. As per Monday, August 29, the company rating was maintained by Deutsche Bank. The firm has “Mkt Perform” rating by Raymond James given on Wednesday, August 26. The rating was initiated by Northland Capital with “Market Perform” on Tuesday, August 18. Citigroup maintained Ciena Corporation (NYSE:CIEN) on Thursday, August 25 with “Hold” rating. The stock of Ciena Corporation (NYSE:CIEN) has “Outperform” rating given on Wednesday, September 9 by RBC Capital Markets. The firm has “Hold” rating by Jefferies given on Monday, December 14.

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 increased to 1.11 in 2016 Q2. Its up 0.20, from 0.91 in 2016Q1. The ratio is positive, as 46 funds sold all Ciena Corporation shares owned while 91 reduced positions. 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.
Sei Invs last reported 147,995 shares in the company. Verition Fund Management Limited Liability Com last reported 38,225 shares in the company. Los Angeles Capital And Equity Inc has invested 0% of its portfolio in Ciena Corporation (NYSE:CIEN). Tygh Mngmt accumulated 1.05% or 199,141 shares. D E Shaw And Inc reported 658,917 shares or 0.02% of all its holdings. Moreover, Emerald Advisers Inc Pa has 0.61% invested in Ciena Corporation (NYSE:CIEN) for 679,753 shares. Prudential Financial last reported 0% of its portfolio in the stock. Jpmorgan Chase owns 929,684 shares or 0% of their US portfolio. Mercer Cap Advisers Inc has 100 shares for 0% of their US portfolio. Quantbot Techs L P holds 0.06% of its portfolio in Ciena Corporation (NYSE:CIEN) for 31,932 shares. Pacad Inv last reported 42,400 shares in the company. Cwm Limited Liability Corporation has 128 shares for 0% of their US portfolio. Farmers Merchants Invs reported 296 shares or 0% of all its holdings. Macquarie Group Ltd has invested 0% of its portfolio in Ciena Corporation (NYSE:CIEN). State Bank Of New York Mellon Corporation last reported 7.90 million shares in the company.

Insider Transactions: Since June 2, 2016, the stock had 0 insider purchases, and 52 selling transactions for $5.05 million net activity. MOYLAN JAMES E JR also sold $73,123 worth of Ciena Corporation (NYSE:CIEN) on Wednesday, September 21. OBRIEN JUDITH M had sold 5,000 shares worth $107,750 on Monday, August 22. Shares for $78,400 were sold by ALEXANDER STEPHEN B on Tuesday, November 15. 3,500 shares were sold by GALLAGHER PATRICK, worth $70,000. Another trade for 8,000 shares valued at $163,751 was sold by SMITH GARY B. $72,812 worth of Ciena Corporation (NYSE:CIEN) shares were sold by Starke Marcus H. $44,420 worth of Ciena Corporation (NYSE:CIEN) was sold by FRODSHAM JAMES.

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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