November 30, 2016 - By Louis Casey
In consideration of transaction Gary Smith made he is in the stock market focus today. The PRESIDENT – CEO of Ciena Corp and an insider, sold 8,000 shares worth $173,402 U.S Dollars. The average price was $21.7 per share. He also sold 16,000 shares that are worth about $330,120 USD in the last month. Gary now has rights to 674,524 shares accounting for 0.49% of the Company’s market cap Gary Smith’s stocks unload was executed on November 30, 2016 and was disclosed in a filing at the U.S. Security & Exchange Commission’s website.
Out of 11 analysts covering Ciena (NYSE:CIEN), 7 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 64% are positive. $29.75 is the highest target while $17 is the lowest. The $24.89 average target is 15.45% above today’s ($21.56) stock price. Ciena has been the topic of 26 analyst reports since August 18, 2015 according to StockzIntelligence Inc. The rating was upgraded by Jefferies on Monday, December 21 to “Buy”. Dougherty & Company maintained the stock with “Buy” rating in Friday, September 2 report. The rating was initiated by Drexel Hamilton on Friday, April 8 with “Buy”. The rating was maintained by Citigroup on Friday, June 3 with “Neutral”. The stock has “Hold” rating given by Deutsche Bank on Friday, September 4. The firm has “Hold” rating given on Monday, September 5 by Deutsche Bank. Deutsche Bank maintained the shares of CIEN in a report on Friday, June 3 with “Hold” rating. The rating was upgraded by Raymond James to “Mkt Perform” on Wednesday, August 26. Citigroup initiated the shares of CIEN in a report on Wednesday, January 27 with “Neutral” rating. The rating was maintained by Citigroup on Friday, September 2 with “Neutral”.
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.
Symphony Asset Ltd Limited Liability Company reported 128,520 shares or 0.27% of all its holdings. Blackrock Inv Mngmt Lc holds 0.02% or 880,347 shares in its portfolio. Prudential Finance Incorporated holds 0% or 90,829 shares in its portfolio. Moreover, Fred Alger Mngmt Inc has 0.03% invested in Ciena Corporation (NYSE:CIEN) for 341,217 shares. Great West Life Assurance Com Can holds 13,045 shares or 0% of its portfolio. The Kentucky-based Mcf Advisors Ltd Liability has invested 0% in Ciena Corporation (NYSE:CIEN). Quentec Asset Management holds 467,051 shares or 1.09% of its portfolio. Macquarie Limited, a Australia-based fund reported 70,760 shares. Ameriprise holds 906,872 shares or 0.01% of its portfolio. Moreover, Zurcher Kantonalbank (Zurich Cantonalbank) has 0% invested in Ciena Corporation (NYSE:CIEN) for 4,026 shares. Regent Investment Mgmt Ltd Liability Company accumulated 27,035 shares or 0.28% of the stock. Alliancebernstein Limited Partnership holds 0% of its portfolio in Ciena Corporation (NYSE:CIEN) for 222,628 shares. Cornerstone Advsrs accumulated 199 shares or 0% of the stock. Sg Americas Secs Limited Liability reported 36,891 shares or 0% of all its holdings. Susquehanna Intl Gp Llp holds 0.01% of its portfolio in Ciena Corporation (NYSE:CIEN) for 519,857 shares.
Insider Transactions: Since June 2, 2016, the stock had 0 insider buys, and 52 sales for $5.05 million net activity. ALEXANDER STEPHEN B sold $72,940 worth of stock. 2,570 shares were sold by Rothenstein David M, worth $55,127 on Wednesday, September 21. 8,000 shares were sold by SMITH GARY B, worth $162,795. MOYLAN JAMES E JR sold 2,000 shares worth $41,460. FRODSHAM JAMES sold $44,800 worth of stock. 3,164 shares were sold by Starke Marcus H, worth $72,812. 10,424 Ciena Corporation (NYSE:CIEN) shares with value of $229,328 were sold by Locoh-Donou Francois.
About 1.73 million shares traded hands. Ciena Corporation (NYSE:CIEN) has risen 24.48% since April 27, 2016 and is uptrending. It has outperformed by 19.26% the S&P500.
Ciena Corporation is a network specialist that focuses on providing communications networking solutions. The company has a market cap of $3.04 billion. The Firm operates through four divisions: Converged Packet Optical, Packet Networking, Optical Transport, and Software and Services. It has a 193.82 P/E ratio. The Company’s Converged Packet Optical portfolio includes networking solutions optimized for the convergence of coherent optical transport, optical transport network switching and packet switching.
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.”
Analysts await Ciena Corporation (NYSE:CIEN) to report earnings on December, 8 before the open. They expect $0.39 EPS, up 44.44% or $0.12 from last year’s $0.27 per share. CIEN’s profit will be $54.99 million for 13.82 P/E if the $0.39 EPS becomes a reality. After $0.35 actual EPS reported by Ciena Corporation for the previous quarter, Wall Street now forecasts 11.43% EPS growth.
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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By Louis Casey