Ciena Corporation (NYSE:CIEN) Given Average Rating of "Moderate Buy" by Analysts

Shares of Ciena Corporation (NYSE:CIEN - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the fifteen brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $85.5385.

Several analysts recently commented on CIEN shares. Northland Securities set a $100.00 price objective on Ciena in a research note on Monday, June 30th. Wolfe Research upgraded shares of Ciena to a "strong-buy" rating in a research note on Tuesday, July 8th. Evercore ISI reissued a "mixed" rating on shares of Ciena in a report on Friday, June 6th. JPMorgan Chase & Co. increased their price objective on Ciena from $83.00 to $105.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Finally, B. Riley restated a "buy" rating and issued a $90.00 price target (up from $89.00) on shares of Ciena in a research note on Friday, June 6th.

Insider Activity

In other Ciena news, SVP Joseph Cumello sold 2,044 shares of the firm's stock in a transaction on Friday, June 27th. The stock was sold at an average price of $81.64, for a total transaction of $166,872.16. Following the transaction, the senior vice president directly owned 47,198 shares in the company, valued at approximately $3,853,244.72. This trade represents a 4.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jason Phipps sold 2,325 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $80.50, for a total transaction of $187,162.50. Following the completion of the sale, the senior vice president owned 84,833 shares of the company's stock, valued at approximately $6,829,056.50. This represents a 2.67% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,969 shares of company stock valued at $2,694,781. Company insiders own 0.93% of the company's stock.

Institutional Investors Weigh In On Ciena

Several large investors have recently made changes to their positions in the business. Marex Group plc bought a new position in Ciena during the second quarter valued at about $434,000. Advisory Services Network LLC increased its stake in shares of Ciena by 58.1% during the 2nd quarter. Advisory Services Network LLC now owns 14,610 shares of the communications equipment provider's stock worth $1,188,000 after purchasing an additional 5,369 shares during the last quarter. Caxton Associates LLP lifted its stake in Ciena by 301.0% in the second quarter. Caxton Associates LLP now owns 250,000 shares of the communications equipment provider's stock valued at $20,332,000 after purchasing an additional 187,658 shares during the last quarter. State of Tennessee Department of Treasury grew its holdings in Ciena by 5.7% during the second quarter. State of Tennessee Department of Treasury now owns 57,457 shares of the communications equipment provider's stock valued at $4,673,000 after purchasing an additional 3,112 shares during the period. Finally, Captrust Financial Advisors raised its stake in shares of Ciena by 22.6% in the second quarter. Captrust Financial Advisors now owns 14,599 shares of the communications equipment provider's stock valued at $1,187,000 after buying an additional 2,693 shares during the period. 91.99% of the stock is owned by hedge funds and other institutional investors.

Ciena Trading Up 0.8%

NYSE CIEN traded up $0.6940 on Monday, reaching $87.3340. The company had a trading volume of 611,731 shares, compared to its average volume of 2,258,615. Ciena has a 52 week low of $49.21 and a 52 week high of $101.44. The stock's 50 day moving average is $84.43 and its 200-day moving average is $76.75. The company has a quick ratio of 2.57, a current ratio of 3.40 and a debt-to-equity ratio of 0.55. The stock has a market cap of $12.35 billion, a price-to-earnings ratio of 121.29, a PEG ratio of 1.99 and a beta of 1.11.

Ciena (NYSE:CIEN - Get Free Report) last posted its earnings results on Thursday, June 5th. The communications equipment provider reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.08). Ciena had a return on equity of 5.08% and a net margin of 2.46%.The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the previous year, the firm posted $0.27 earnings per share. Ciena's quarterly revenue was up 23.6% compared to the same quarter last year. Ciena has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities analysts predict that Ciena will post 1.6 earnings per share for the current year.

About Ciena

Ciena Corporation provides hardware and software services for delivery of video, data, and voice traffic metro, aggregation, and access communications network worldwide. The company's Networking Platforms segment offers convergence of coherent optical transport, open optical networking, optical transport network switching, IP routing, and switching services.