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

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

The stock of Ciena Corporation (NYSE:CIEN) is a huge mover today! About 2.01 million shares traded hands. Ciena Corporation (NYSE:CIEN) has risen 5.02% since April 5, 2016 and is uptrending. It has outperformed by 3.06% the S&P500.
The move comes after 8 months positive chart setup for the $2.86B company. It was reported on Nov, 7 by Barchart.com. We have $28.53 PT which if reached, will make NYSE:CIEN worth $1.14 billion more.

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. As per Friday, October 9, the company rating was initiated by Morgan Stanley. The firm has “Hold” rating by Drexel Hamilton given on Friday, September 2. Northland Capital upgraded the stock to “Outperform” rating in Thursday, December 10 report. Jefferies maintained the stock with “Hold” rating in Monday, December 14 report. On Friday, June 3 the stock rating was maintained by Deutsche Bank with “Hold”. M Partners maintained Ciena Corporation (NYSE:CIEN) on Monday, June 6 with “Buy” rating. The firm earned “Hold” rating on Monday, August 29 by Deutsche Bank. Deutsche Bank maintained Ciena Corporation (NYSE:CIEN) rating on Friday, December 11. Deutsche Bank has “Hold” rating and $18.0 price target. On Friday, December 11 the stock rating was maintained by RBC Capital Markets with “Outperform”. Citigroup maintained the stock with “Neutral” rating in Friday, June 3 report.

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 is 0.91 in Q2 2016. Its the same as in 2016Q1. The ratio is the same, as 46 funds sold all Ciena Corporation shares owned while 91 reduced positions. only 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.
Etrade Cap Management Limited Liability Com accumulated 0.04% or 41,327 shares. Thrivent For Lutherans last reported 342,934 shares in the company. Stifel Financial reported 62,773 shares or 0.01% of all its holdings. Fifth Third Bancorp owns 30,198 shares or 0% of their US portfolio. First Trust Advisors Lp has invested 0% of its portfolio in Ciena Corporation (NYSE:CIEN). Walleye Trading Lc holds 0% or 6,332 shares in its portfolio. Amalgamated Commercial Bank holds 16,448 shares or 0.02% of its portfolio. Platinum Inv Mngmt Ltd last reported 937,377 shares in the company. Victory Cap Mgmt, a Ohio-based fund reported 2.66 million shares. The New Jersey-based Jacobs Levy Equity Mngmt has invested 0.22% in Ciena Corporation (NYSE:CIEN). First Manhattan holds 0.01% or 50,440 shares in its portfolio. Springbok Llc holds 3,400 shares or 0.01% of its portfolio. Cwm Ltd accumulated 128 shares or 0% of the stock. Credit Suisse Ag, a Switzerland-based fund reported 203,725 shares. Alyeska Inv Gp Limited Partnership has 0.35% invested in the company for 1.82M shares.

Insider Transactions: Since May 16, 2016, the stock had 0 buys, and 52 sales for $5.01 million net activity. The insider MOYLAN JAMES E JR sold $37,320. Shares for $73,850 were sold by ALEXANDER STEPHEN B. $235,943 worth of Ciena Corporation (NYSE:CIEN) was sold by Locoh-Donou Francois. Rothenstein David M had sold 2,570 shares worth $55,127 on Wednesday, September 21. Starke Marcus H sold $72,812 worth of stock. $70,000 worth of Ciena Corporation (NYSE:CIEN) was sold by GALLAGHER PATRICK. FRODSHAM JAMES sold $57,465 worth of stock.

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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