Ciena Corporation [CIEN] moved down -2.37: Why It’s Important

Ciena Corporation [NYSE: CIEN] slipped around -1.14 points on Wednesday, while shares priced at $47.01 at the close of the session, down -2.37%. The company report on April 12, 2023 at 9:00 AM that Ciena Debuts WaveRouter, Industry’s First Purpose-Built Router for the Converged Metro.

Scalability, operational simplicity, and sustainability – with zero compromises.

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Ciena (NYSE: CIEN) introduced WaveRouter, an industry-first platform architecture optimally designed for the converged metro network. As part of Ciena’s Coherent Routing strategy, WaveRouter supports the exponential growth of metro traffic driven by bandwidth-hungry services such as 5G, high-speed broadband, enterprise business services, and the cloud. Seamlessly unifying IP, optical, and compute functionality in a single platform, WaveRouter’s future-proof scalability from 6Tb/s to 192Tb/s addresses the needs of service providers who are dealing with unprecedented traffic demand.

Ciena Corporation stock is now -7.79% down from its year-to-date (YTD) trading value. CIEN Stock saw the intraday high of $47.68 and lowest of $46.745 per share. The company’s 52-week high price is 58.71, which means current price is +2.57% above from all time high which was touched on 03/06/23.

Compared to the average trading volume of 1.72M shares, CIEN reached a trading volume of 2011076 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Ciena Corporation [CIEN]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CIEN shares is $64.86 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CIEN stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Morgan Stanley have made an estimate for Ciena Corporation shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on March 29, 2023. While these analysts kept the previous recommendation, Raymond James raised their target price from $58 to $70. The new note on the price target was released on March 28, 2023, representing the official price target for Ciena Corporation stock. Previously, the target price had yet another raise to $60, while JP Morgan analysts kept a Overweight rating on CIEN stock. On October 11, 2022, analysts decreased their price target for CIEN shares from 56 to 46.

The Average True Range (ATR) for Ciena Corporation is set at 1.60, with the Price to Sales ratio for CIEN stock in the period of the last 12 months amounting to 1.85. The Price to Book ratio for the last quarter was 2.47, with the Price to Cash per share for the same quarter was set at 7.64.

How has CIEN stock performed recently?

Ciena Corporation [CIEN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.45. With this latest performance, CIEN shares dropped by -6.35% in over the last four-week period, additionally plugging by 16.30% over the last 6 months – not to mention a drop of -15.81% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CIEN stock in for the last two-week period is set at 35.06, with the RSI for the last a single of trading hit 27.18, and the three-weeks RSI is set at 39.79 for Ciena Corporation [CIEN]. The present Moving Average for the last 50 days of trading for this stock 49.68, while it was recorded at 49.55 for the last single week of trading, and 47.91 for the last 200 days.

Ciena Corporation [CIEN]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Ciena Corporation [CIEN] shares currently have an operating margin of +7.08 and a Gross Margin at +39.42. Ciena Corporation’s Net Margin is presently recorded at +4.21.

Return on Total Capital for CIEN is now 6.66, given the latest momentum, and Return on Invested Capital for the company is 3.99. Return on Equity for this stock inclined to 5.33, with Return on Assets sitting at 3.08. When it comes to the capital structure of this company, Ciena Corporation [CIEN] has a Total Debt to Total Equity ratio set at 43.73. Additionally, CIEN Total Debt to Total Capital is recorded at 30.42, with Total Debt to Total Assets ending up at 23.40. Long-Term Debt to Equity for the company is recorded at 42.64, with the Long-Term Debt to Total Capital now at 29.67.

Reflecting on the efficiency of the workforce at the company, Ciena Corporation [CIEN] managed to generate an average of $18,926 per employee. Receivables Turnover for the company is 3.45 with a Total Asset Turnover recorded at a value of 0.73.Ciena Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.50 and a Current Ratio set at 3.70.

Earnings analysis for Ciena Corporation [CIEN]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CIEN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Ciena Corporation go to 7.10%.

Insider trade positions for Ciena Corporation [CIEN]

There are presently around $6,601 million, or 99.90% of CIEN stock, in the hands of institutional investors. The top three institutional holders of CIEN stocks are: BLACKROCK INC. with ownership of 17,140,290, which is approximately 1.86% of the company’s market cap and around 0.70% of the total institutional ownership; VANGUARD GROUP INC, holding 14,343,173 shares of the stock with an approximate value of $674.27 million in CIEN stocks shares; and FMR LLC, currently with $418.89 million in CIEN stock with ownership of nearly 3.481% of the company’s market capitalization.

Positions in Ciena Corporation stocks held by institutional investors increased at the end of Monday and at the time of the Monday reporting period, where 240 institutional holders increased their position in Ciena Corporation [NYSE:CIEN] by around 13,108,094 shares. Additionally, 227 investors decreased positions by around 17,344,275 shares, while 53 investors held positions by with 109,971,132 shares. The mentioned changes placed institutional holdings at 140,423,501 shares, according to the latest SEC report filing. CIEN stock had 100 new institutional investments in for a total of 2,589,667 shares, while 49 institutional investors sold positions of 3,417,852 shares during the same period.


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