Ciena (CIEN) received a Hold rating and a $54.00 price target from Northland Securities analyst Tim Savageaux today. The company’s shares closed last Thursday at $53.26, close to its 52-week high of $57.19.
According to TipRanks.com, Savageaux is a 4-star analyst with an average return of 6.8% and a 56.6% success rate. Savageaux covers the Technology sector, focusing on stocks such as MACOM Technology Solutions Holdings, Applied Optoelectronics, and Communications Systems.
Currently, the analyst consensus on Ciena is a Strong Buy with an average price target of $54.82, a -1.7% downside from current levels. In a report issued on June 1, B.Riley FBR also maintained a Hold rating on the stock with a $51.00 price target.
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The company has a one-year high of $57.19 and a one-year low of $30.58. Currently, Ciena has an average volume of 2.29M.
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Ciena Corp. engages in the provision of network and communication infrastructure. It operates through the following segments: Converged Packet Optical; Packet Networking; Optical Transport; and Software and Services. The Converged Packet Optical segment develops and sells optical processors, switching systems and operating system software. The Packet Networking segment includes service delivery switches, services aggregation switches, and ethernet packet configurations. The Optical Transport segment manufactures and trades optical transport systems, common photonic layer, data networking products, data center interconnection and virtual networks. The Software and Services segment provides wide area network controller, network functions virtualization platform, and software applications. The company was founded by Patrick H. Nettles in November 1992 and is headquartered in Hanover, MD.
