Several other equities research analysts have also commented on CIEN. Zacks Investment Research lowered shares of Ciena from a buy rating to a hold rating in a research report on Tuesday, February 12th. B. Riley upped their target price on shares of Ciena from $42.20 to $48.00 and gave the company a buy rating in a report on Wednesday, March 6th. BMO Capital Markets upped their target price on shares of Ciena from $36.00 to $42.00 and gave the company an outperform rating in a report on Friday, December 14th. TheStreet lowered shares of Ciena from a b rating to a c+ rating in a report on Friday, December 14th. Finally, Northland Securities set a $32.00 target price on shares of Ciena and gave the company a buy rating in a report on Thursday, December 20th. Ten equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $41.96.
Ciena stock opened at $37.77 on Monday. Ciena has a 52 week low of $22.99 and a 52 week high of $45.70. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.52 and a current ratio of 2.98. The stock has a market capitalization of $5.82 billion, a P/E ratio of 33.72, a price-to-earnings-growth ratio of 1.46 and a beta of 1.04.
In other news, VP David M. Rothenstein sold 2,000 shares of the company’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $39.97, for a total transaction of $79,940.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Patrick H. Nettles sold 5,000 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $37.03, for a total transaction of $185,150.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 194,822 shares of company stock valued at $7,719,841. Corporate insiders own 1.20% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Csenge Advisory Group acquired a new stake in Ciena during the 3rd quarter worth approximately $29,000. Huntington National Bank acquired a new stake in Ciena during the 4th quarter worth approximately $29,000. PRW Wealth Management LLC acquired a new stake in Ciena in the fourth quarter valued at approximately $38,000. Ffcm LLC grew its position in Ciena by 355.7% in the fourth quarter. Ffcm LLC now owns 1,276 shares of the communications equipment provider’s stock valued at $43,000 after acquiring an additional 996 shares in the last quarter. Finally, First Hawaiian Bank grew its position in Ciena by 393.0% in the fourth quarter. First Hawaiian Bank now owns 1,474 shares of the communications equipment provider’s stock valued at $50,000 after acquiring an additional 1,175 shares in the last quarter. 93.41% of the stock is owned by hedge funds and other institutional investors.
Ciena Corp. engages in the provision of network and communication infrastructure. It operates through the following segments: Converged Packet Optical; Packet Networking; Optical Transport; and Software and Services. The Converged Packet Optical segment develops and sells optical processors, switching systems, and operating system software.
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