Ciena (NYSE:CIEN) Price Target Raised to $405.00 at Morgan Stanley

Ciena (NYSE:CIEN) had its price objective raised by Morgan Stanley from $286.00 to $405.00 in a research note issued to investors on Monday, Marketbeat reports. They currently have an equal weight rating on the communications equipment provider’s stock.

CIEN has been the topic of several other reports. Wolfe Research reissued an “outperform” rating and issued a $375.00 target price on shares of Ciena in a report on Thursday, March 5th. B. Riley Financial boosted their target price on Ciena from $222.00 to $283.00 and gave the stock a “neutral” rating in a report on Friday, March 6th. TD Cowen assumed coverage on Ciena in a report on Thursday, March 12th. They issued a “buy” rating and a $425.00 target price on the stock. Stifel Nicolaus boosted their target price on Ciena from $320.00 to $430.00 and gave the stock a “buy” rating in a report on Monday, March 23rd. Finally, JPMorgan Chase & Co. boosted their target price on Ciena from $380.00 to $550.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $355.59.

Ciena Stock Down 0.9%

Shares of CIEN opened at $503.04 on Monday. The company has a market capitalization of $71.13 billion, a P/E ratio of 320.41, a PEG ratio of 1.67 and a beta of 1.01. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.81 and a quick ratio of 2.14. Ciena has a one year low of $56.94 and a one year high of $517.88. The business’s 50 day simple moving average is $382.51 and its 200-day simple moving average is $271.77.

Ciena (NYSE:CIEN) last announced its earnings results on Thursday, March 5th. The communications equipment provider reported $1.35 EPS for the quarter, topping the consensus estimate of $1.17 by $0.18. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.40 billion. Ciena had a return on equity of 12.09% and a net margin of 4.47%.Ciena’s revenue was up 33.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.64 EPS. As a group, sell-side analysts predict that Ciena will post 5.08 EPS for the current fiscal year.

Insider Buying and Selling at Ciena

In other Ciena news, CEO Gary B. Smith sold 2,952 shares of the company’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $415.51, for a total transaction of $1,226,585.52. Following the completion of the sale, the chief executive officer owned 281,365 shares in the company, valued at approximately $116,909,971.15. The trade was a 1.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Brodie Gage sold 1,200 shares of the company’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $471.79, for a total transaction of $566,148.00. Following the sale, the senior vice president owned 45,141 shares of the company’s stock, valued at $21,297,072.39. The trade was a 2.59% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 42,974 shares of company stock worth $16,615,505. Insiders own 0.58% of the company’s stock.

Institutional Trading of Ciena

Institutional investors and hedge funds have recently made changes to their positions in the business. Community Bank N.A. bought a new stake in shares of Ciena in the 3rd quarter valued at $25,000. Transamerica Financial Advisors LLC increased its position in shares of Ciena by 71.0% in the 4th quarter. Transamerica Financial Advisors LLC now owns 106 shares of the communications equipment provider’s stock valued at $25,000 after buying an additional 44 shares in the last quarter. Mather Group LLC. bought a new stake in shares of Ciena in the 3rd quarter valued at $28,000. Assetmark Inc. increased its position in shares of Ciena by 50.4% in the 3rd quarter. Assetmark Inc. now owns 200 shares of the communications equipment provider’s stock valued at $29,000 after buying an additional 67 shares in the last quarter. Finally, Ameritas Advisory Services LLC increased its position in shares of Ciena by 104.0% in the 3rd quarter. Ameritas Advisory Services LLC now owns 204 shares of the communications equipment provider’s stock valued at $30,000 after buying an additional 104 shares in the last quarter. Institutional investors own 91.99% of the company’s stock.

Ciena Company Profile

Ciena Corporation (NYSE: CIEN) is a global supplier of telecommunications networking equipment, software and services. The company develops high-capacity optical transport systems and packet-optical platforms that enable service providers, cloud operators and large enterprises to build, manage and scale their networks. Ciena’s product portfolio includes coherent optical solutions, packet networking platforms and a suite of network automation software designed to optimize bandwidth, reduce latency and simplify network operations.

In addition to hardware offerings, Ciena provides professional services and support, including network design, implementation and ongoing maintenance.