Ciena (NYSE:CIEN) Rating Maintained
According to data compiled by Thomson Reuters, Ciena (NYSE:CIEN)’s stock is covered by 17 equity analysts across the Street, with 0 analysts giving it a Sell rating, 18 a Buy rating, while 2 consider it a Hold. The 12-month consensus target price for the stock is $24.44, which reflects an upside potential of 12.26% over the current price.
1492 Capital Management Llc had the biggest stake with ownership of 130,899 shares as of Q2 2015 for 2.33% of the portfolio. Broadview Advisors Llc is another bullish active investment manager who is possessing 695,675 shares of Ciena or 2.15% of their portfolio. Also, Friess Associates Llc have 1.64% of their portfolio invested in the company for 776,200 shares. The New York-based fund Kingdom Ridge Capital Llc revealed it had bought so far a stake worth about 1.6% of the active investment manager’s stock portfolio in Ciena. The Missouri-based fund Argent Capital Management Llc is also positive about the stock, possessing 102,150 shares or 1.57% of their portfolio.
Ciena (NYSE:CIEN) Profile
Ciena Corporation is a network strategy and technology company, which provides solutions that enable a range of network operators to adopt communication architectures and deliver an array of services, relied upon by enterprise and consumer end users. It provides equipment, software and services that support the transport, switching, aggregation, service delivery and management of voice, video and data traffic on communications networks. It segments include Networking Platforms; Software and Software-Related Services, and Global Services.
Ciena (NYSE:CIEN) traded up 0.76% on 1 September, hitting $21.77. A total of 4.28 million shares of the company’s stock traded hands. This is up from average of 3.33 million shares. Ciena has a 52 week low of $18.94 and a 52 week high of $27.98. The company has a market cap of $3.11 billion and a P/E ratio of 32.17.
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