Analysis: Ciena Corp (NYSE:CIEN) Stock Target Has Been Increased Today
In a recent report released by MKM Partners on 11 December, the firm, Ciena Corp (NYSE:CIEN), had their target downgraded to $26.00. Analusts currently have a solid Buy rating on the stock.
From a total of 18 analysts covering Ciena (NYSE:CIEN) stock, 17 rate it a ”Buy”, 0 a “Sell”, and 4 a ”Hold”. This means that 81% of the ratings are positive. The highest target price is $36 while the lowest target price is $11. The mean of all analyst targets is $27.04 with a 35.00% above today’s ($19.63) stock price. Ciena was the topic of 7 analyst reports since August 18, 2015 according to the firm StockzIntelligence Inc. Northland Capital upgraded shares on December 10 to “Outperform” rating. RBC Capital Markets upgraded CIEN stock in a recent report from September 9 to “Outperform” rating.
Approximately 6.09 million shares of stock traded hands or 114.44% up from the average. Ciena Corporation (NYSE:CIEN) has declined 9.16% since May 8, 2015 and is downtrending. It has underperformed by 6.14% the S&P500.
The overall sentiment of institutions has increased to 1.74 in Q2 2015. Its up 0.27, from 1.47 in 2015Q2. The ratio increased, as 39 institutions have sold all the shares of Ciena Corporation that they owned while 68 funds have taken shares off the table. 46 funds have purchased shares for the first time while 140 added to their positions. These institutions now hold 141.44 million shares or 17.69% more than the 120.19 million shares they owned in 2015Q2.
The Fund Sophrosyne Capital Llc currently is holding shares equating to 69.81% of its total portfolio in Ciena Corporation representing a total of 388,527 shares. Another fund,Afton Capital Management Llc, is holding a total of 70,000 shares equating to 4.29% of their holdings. Additionally, S Squared Technology Llc has a 116,804 share stake in Ciena Corporation which represents 2.82% of their total portfolio. The Fund, Broadview Advisors Llc, based out of Wisconsin, has also built up a stake in the stock, which represents a total of 1.82% of their total portfolio. Finally Peconic Partners Llc, a fund which is based in the state of New York reported a total holdings of 531,300 shares.
Insider activity is a very important aspect to track on any stock. Going back to March 12, 2015, shareholders of Ciena Corporation have witnessed 0 insider buys, and a total of 55 insider sales equating to a net activity of approximately $4.72 million . Smith Gary B sold 4,500 shares worth approximately $106,264. Moylan James E Jr sold 1,000 shares worth approximately $23,340. Rothenstein David M sold 1,500 shares worth approximately $33,600. Alexander Stephen B sold 3,500 shares worth approximately $78,400. The company insider Claflin Bruce L. sold 400 shares worth $9,104.
Ciena Corporation is a provider of communications networking equipment, software and services that support the transport, switching, aggregation and management of voice, video and data traffic. The company has a market cap of $2.71 billion. The Firm operates in four divisions: converged packet optical, packet networking, optical transport, and software and services. It currently has negative earnings. The Company’s service well-known provider clients include regional, national and international, wire line and wireless carriers.
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.” Get a free copy of the Zacks research report on Ciena Corporation (CIEN).