In today’s session Ciena Corporation (CIEN) registered an unusually high (690) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the November, 2016 call, expecting serious CIEN increase. With 690 contracts traded and 20744 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: CIEN161118C00021000 closed last at: $0.43 or 16.2% up. About 525,013 shares traded hands. Ciena Corporation (NYSE:CIEN) has risen 14.77% since April 8, 2016 and is uptrending. It has outperformed by 9.12% the S&P500.
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. $29.75 is the highest target while $17 is the lowest. The $24.89 average target is 18.81% above today’s ($20.95) stock price. Ciena has been the topic of 26 analyst reports since August 18, 2015 according to StockzIntelligence Inc. The company was upgraded on Wednesday, August 26 by Raymond James. Northland Capital upgraded Ciena Corporation (NYSE:CIEN) rating on Thursday, December 10. Northland Capital has “Outperform” rating and $25.0 price target. The firm has “Hold” rating by Jefferies given on Monday, December 14. The firm earned “Buy” rating on Monday, June 6 by M Partners. The stock has “Outperform” rating given by RBC Capital Markets on Friday, December 11. The company was maintained on Monday, August 29 by Deutsche Bank. The company was maintained on Friday, June 3 by Jefferies. The firm has “Overweight” rating by Morgan Stanley given on Tuesday, January 12. The rating was downgraded by Morgan Stanley to “Equal-Weight” on Friday, September 2. On Friday, June 3 the stock rating was maintained by Citigroup with “Neutral”.
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 without change, 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.
Commercial Bank Of New York Mellon holds 0.05% or 7.90M shares in its portfolio. Tudor Investment Et Al has 0.01% invested in the company for 35,500 shares. Dupont Mngmt reported 29,538 shares or 0.01% of all its holdings. The Connecticut-based Cubist Systematic Strategies Limited has invested 0.11% in Ciena Corporation (NYSE:CIEN). Moreover, Argent Limited Liability Company has 1.43% invested in Ciena Corporation (NYSE:CIEN) for 1.70M shares. Highbridge Management holds 216,225 shares or 0.07% of its portfolio. Parallax Volatility Advisers Lp reported 65,268 shares or 0% of all its holdings. Alyeska Invest Grp L P, a Illinois-based fund reported 1.82 million shares. Gemmer Asset Mgmt Ltd Liability Corporation has invested 0% of its portfolio in Ciena Corporation (NYSE:CIEN). Allianz Asset Management Ag accumulated 139,024 shares or 0% of the stock. First Personal Finance Serv accumulated 0.01% or 1,654 shares. Oregon Pub Employees Retirement Fund last reported 0.02% of its portfolio in the stock. Envestnet Asset has 0% invested in the company for 13,381 shares. Emerald Advisers Pa has 679,753 shares for 0.61% of their US portfolio. First Mercantile Tru Commerce holds 0.11% or 46,500 shares in its portfolio.
Insider Transactions: Since May 16, 2016, the stock had 0 buys, and 52 sales for $5.01 million net activity. 2,000 shares were sold by MOYLAN JAMES E JR, worth $43,580. 3,164 Ciena Corporation (NYSE:CIEN) shares with value of $72,812 were sold by Starke Marcus H. 3,500 Ciena Corporation (NYSE:CIEN) shares with value of $68,495 were sold by ALEXANDER STEPHEN B. 13,202 Ciena Corporation (NYSE:CIEN) shares with value of $278,257 were sold by Locoh-Donou Francois. 624 Ciena Corporation (NYSE:CIEN) shares with value of $13,817 were sold by PETRIK ANDREW C. 2,679 shares were sold by FRODSHAM JAMES, worth $57,465. $39,140 worth of Ciena Corporation (NYSE:CIEN) was sold by Rothenstein David M on Friday, July 15.
Ciena Corporation is a network specialist that focuses on providing communications networking solutions. The company has a market cap of $2.97 billion. The Firm operates through four divisions: Converged Packet Optical, Packet Networking, Optical Transport, and Software and Services. It has a 188.33 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.
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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