Ciena (NYSE:CIEN) had its target price decreased by equities research analysts at B. Riley from $30.50 to $28.00 in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The firm presently has a “buy” rating on the communications equipment provider’s stock. B. Riley’s price target would indicate a potential upside of 29.63% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Stifel Nicolaus reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Ciena in a report on Tuesday, September 26th. Nomura reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Ciena in a report on Wednesday, September 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 price objective (down from $31.00) on shares of Ciena in a report on Monday, September 25th. BidaskClub cut Ciena from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. Finally, ValuEngine cut Ciena from a “buy” rating to a “hold” rating in a report on Monday, August 14th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $29.30.

Ciena (CIEN) traded down $0.13 on Tuesday, reaching $21.60. The company had a trading volume of 3,235,100 shares, compared to its average volume of 3,072,131. The company has a market cap of $3,080.00, a P/E ratio of 15.75, a PEG ratio of 0.85 and a beta of 1.66. Ciena has a twelve month low of $19.40 and a twelve month high of $27.98. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.92 and a quick ratio of 2.50.

In other Ciena news, CEO Gary B. Smith sold 10,000 shares of the company’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $20.55, for a total value of $205,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO James E. Moylan, Jr. sold 2,000 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $21.46, for a total value of $42,920.00. The disclosure for this sale can be found here. Insiders have sold a total of 91,052 shares of company stock valued at $1,942,338 in the last three months. 1.45% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Ciena by 11.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,085 shares of the communications equipment provider’s stock valued at $127,000 after buying an additional 517 shares during the last quarter. Fortaleza Asset Management Inc. bought a new stake in shares of Ciena in the 2nd quarter valued at about $134,000. Acadian Asset Management LLC bought a new stake in shares of Ciena in the 2nd quarter valued at about $159,000. Howe & Rusling Inc. bought a new stake in shares of Ciena in the 3rd quarter valued at about $158,000. Finally, First Quadrant L P CA bought a new stake in shares of Ciena in the 3rd quarter valued at about $183,000.

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About Ciena

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.

Analyst Recommendations for Ciena (NYSE:CIEN)

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