Stephens Inc. AR Has $347,000 Stake in Ciena Co. (NYSE:CIEN)

Stephens Inc. AR grew its holdings in shares of Ciena Co. (NYSE:CIEN – Get Rating) by 14.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,716 shares of the communications equipment provider’s stock after acquiring an additional 718 shares during the quarter. Stephens Inc. AR’s holdings in Ciena were worth $347,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Counterpoint Mutual Funds LLC acquired a new position in shares of Ciena in the first quarter valued at approximately $67,000. Tobam increased its stake in shares of Ciena by 919.2% in the first quarter. Tobam now owns 2,181 shares of the communications equipment provider’s stock valued at $132,000 after buying an additional 1,967 shares during the period. Rosenberg Matthew Hamilton acquired a new position in shares of Ciena in the first quarter valued at approximately $47,000. Mutual of America Capital Management LLC increased its stake in shares of Ciena by 2.1% in the first quarter. Mutual of America Capital Management LLC now owns 167,122 shares of the communications equipment provider’s stock valued at $10,133,000 after buying an additional 3,490 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Ciena by 4.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,323 shares of the communications equipment provider’s stock valued at $1,414,000 after buying an additional 1,010 shares during the period. Institutional investors and hedge funds own 88.75% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on CIEN. Rosenblatt Securities decreased their target price on shares of Ciena from $80.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, May 23rd. Cowen decreased their target price on shares of Ciena from $96.00 to $82.00 in a research report on Monday, June 6th. Evercore ISI decreased their target price on shares of Ciena to $60.00 in a research report on Friday, June 3rd. Barclays decreased their target price on shares of Ciena from $84.00 to $70.00 and set an “overweight” rating for the company in a research report on Friday, June 3rd. Finally, Argus decreased their target price on shares of Ciena from $82.00 to $68.00 and set a “buy” rating for the company in a research report on Friday, June 3rd. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Ciena presently has a consensus rating of “Moderate Buy” and an average target price of $71.78.

Insider Buying and Selling at Ciena

In other Ciena news, CEO Gary B. Smith sold 3,542 shares of the firm’s stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $48.68, for a total transaction of $172,424.56. Following the transaction, the chief executive officer now directly owns 440,382 shares in the company, valued at approximately $21,437,795.76. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, SVP Rick Hamilton sold 2,600 shares of Ciena stock in a transaction on Wednesday, June 22nd. The stock was sold at an average price of $44.06, for a total transaction of $114,556.00. Following the sale, the senior vice president now directly owns 68,257 shares in the company, valued at approximately $3,007,403.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gary B. Smith sold 3,542 shares of Ciena stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $48.68, for a total value of $172,424.56. Following the sale, the chief executive officer now owns 440,382 shares in the company, valued at $21,437,795.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,310 shares of company stock worth $1,272,601. Corporate insiders own 0.94% of the company’s stock.

Ciena Price Performance

Shares of CIEN opened at $52.49 on Friday. Ciena Co. has a 12-month low of $41.63 and a 12-month high of $78.28. The business’s fifty day moving average is $47.66 and its 200 day moving average is $55.72. The company has a quick ratio of 3.10, a current ratio of 3.72 and a debt-to-equity ratio of 0.38. The stock has a market cap of $7.86 billion, a P/E ratio of 19.30, a P/E/G ratio of 2.25 and a beta of 0.92.

Ciena (NYSE:CIEN – Get Rating) last issued its quarterly earnings data on Thursday, June 2nd. The communications equipment provider reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.06). Ciena had a net margin of 11.15% and a return on equity of 12.18%. The company had revenue of $949.20 million for the quarter, compared to the consensus estimate of $950.86 million. During the same quarter last year, the business posted $0.52 earnings per share. Ciena’s revenue was up 13.8% on a year-over-year basis. Sell-side analysts anticipate that Ciena Co. will post 1.53 earnings per share for the current fiscal year.

Ciena Profile

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Ciena Corporation provides network hardware, software, and services that support the transport, routing, switching, aggregation, service delivery, and management of video, data, and voice traffic on communications networks worldwide. The company's Networking Platforms segment offers hardware networking products and solutions that optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching.

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