Ciena Corporation (NYSE:CIEN) Given Consensus Recommendation of “Moderate Buy” by Analysts

Ciena Corporation (NYSE:CIEN) has been given a consensus recommendation of “Moderate Buy” by the seventeen brokerages that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, eight have given a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $114.3214.

Several equities research analysts recently commented on CIEN shares. Bank of America upped their target price on Ciena from $95.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, September 5th. Morgan Stanley increased their price objective on Ciena from $70.00 to $100.00 and gave the stock an “underweight” rating in a research note on Friday, September 5th. UBS Group increased their price objective on Ciena from $78.00 to $120.00 and gave the stock a “neutral” rating in a research note on Friday, September 5th. Evercore ISI increased their price objective on Ciena from $95.00 to $120.00 and gave the stock an “in-line” rating in a research note on Thursday, September 4th. Finally, Needham & Company LLC upped their target price on Ciena from $90.00 to $130.00 and gave the company a “buy” rating in a report on Friday, September 5th.

Ciena Trading Up 1.2%

NYSE CIEN opened at $137.56 on Friday. The business’s 50-day moving average price is $96.27 and its two-hundred day moving average price is $79.66. Ciena has a 12 month low of $49.21 and a 12 month high of $138.35. The firm has a market capitalization of $19.40 billion, a PE ratio of 141.81, a price-to-earnings-growth ratio of 2.67 and a beta of 1.16. The company has a current ratio of 3.28, a quick ratio of 2.52 and a debt-to-equity ratio of 0.55.

Insider Transactions at Ciena

In other Ciena news, SVP Joseph Cumello sold 2,044 shares of the stock in a transaction on Friday, June 27th. The stock was sold at an average price of $81.64, for a total transaction of $166,872.16. Following the completion of the transaction, the senior vice president directly owned 47,198 shares of the company’s stock, valued at approximately $3,853,244.72. This represents a 4.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Brodie Gage sold 350 shares of the stock in a transaction on Friday, August 15th. The shares were sold at an average price of $90.94, for a total value of $31,829.00. Following the transaction, the senior vice president directly owned 43,268 shares of the company’s stock, valued at approximately $3,934,791.92. This trade represents a 0.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,619 shares of company stock valued at $2,796,803 in the last three months. 0.93% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ciena

A number of institutional investors and hedge funds have recently made changes to their positions in CIEN. Amundi raised its position in Ciena by 322.8% during the first quarter. Amundi now owns 34,035 shares of the communications equipment provider’s stock valued at $1,912,000 after purchasing an additional 25,986 shares in the last quarter. Inspire Investing LLC grew its stake in shares of Ciena by 516.6% in the first quarter. Inspire Investing LLC now owns 18,719 shares of the communications equipment provider’s stock worth $1,131,000 after purchasing an additional 15,683 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Ciena in the first quarter worth about $219,000. GAMMA Investing LLC grew its stake in shares of Ciena by 40.4% in the first quarter. GAMMA Investing LLC now owns 2,960 shares of the communications equipment provider’s stock worth $179,000 after purchasing an additional 851 shares during the last quarter. Finally, United Services Automobile Association bought a new stake in shares of Ciena in the first quarter worth about $581,000. Hedge funds and other institutional investors own 91.99% of the company’s stock.

About Ciena

Ciena Corporation provides hardware and software services for delivery of video, data, and voice traffic metro, aggregation, and access communications network worldwide. The company’s Networking Platforms segment offers convergence of coherent optical transport, open optical networking, optical transport network switching, IP routing, and switching services.