700 Shares in Ciena Co. (NYSE:CIEN) Bought by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC acquired a new position in shares of Ciena Co. (NYSE:CIENGet Rating) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 700 shares of the communications equipment provider’s stock, valued at approximately $32,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Lindenwold Advisors boosted its position in shares of Ciena by 6.3% during the 1st quarter. Lindenwold Advisors now owns 3,650 shares of the communications equipment provider’s stock worth $221,000 after acquiring an additional 216 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Ciena by 0.6% during the 1st quarter. Bank of Montreal Can now owns 36,296 shares of the communications equipment provider’s stock worth $2,227,000 after acquiring an additional 220 shares in the last quarter. Cetera Advisors LLC boosted its position in shares of Ciena by 5.0% during the 1st quarter. Cetera Advisors LLC now owns 4,660 shares of the communications equipment provider’s stock worth $283,000 after acquiring an additional 222 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Ciena by 0.5% during the 1st quarter. Arizona State Retirement System now owns 41,880 shares of the communications equipment provider’s stock worth $2,539,000 after acquiring an additional 225 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its position in shares of Ciena by 0.9% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 28,651 shares of the communications equipment provider’s stock worth $1,737,000 after acquiring an additional 252 shares in the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Northland Securities lowered their price objective on Ciena from $53.00 to $45.00 and set a “market perform” rating for the company in a research report on Friday, September 2nd. MKM Partners assumed coverage on Ciena in a report on Thursday, August 4th. They issued a “buy” rating and a $62.00 target price for the company. Morgan Stanley reduced their target price on Ciena from $60.00 to $49.00 and set an “overweight” rating for the company in a report on Tuesday, October 11th. TheStreet downgraded Ciena from a “b-” rating to a “c” rating in a report on Thursday, September 1st. Finally, StockNews.com assumed coverage on Ciena in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $64.74.

Ciena Stock Down 1.4 %

CIEN opened at $43.73 on Wednesday. The business has a 50 day moving average price of $42.88 and a two-hundred day moving average price of $46.88. The company has a quick ratio of 2.58, a current ratio of 3.48 and a debt-to-equity ratio of 0.40. The company has a market cap of $6.48 billion, a PE ratio of 34.43, a P/E/G ratio of 1.49 and a beta of 1.03. Ciena Co. has a 52 week low of $38.33 and a 52 week high of $78.28.

Ciena (NYSE:CIENGet Rating) last posted its quarterly earnings data on Thursday, September 1st. The communications equipment provider reported $0.18 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.03). The company had revenue of $867.30 million for the quarter, compared to analysts’ expectations of $903.95 million. Ciena had a net margin of 5.37% and a return on equity of 8.91%. The firm’s revenue was down 12.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.81 earnings per share. As a group, research analysts anticipate that Ciena Co. will post 0.83 EPS for the current year.

Insider Transactions at Ciena

In other news, SVP Stephen B. Alexander sold 2,000 shares of the stock in a transaction that occurred on Monday, October 17th. The stock was sold at an average price of $40.32, for a total transaction of $80,640.00. Following the completion of the transaction, the senior vice president now directly owns 23,470 shares of the company’s stock, valued at approximately $946,310.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, SVP Stephen B. Alexander sold 2,000 shares of the stock in a transaction that occurred on Monday, October 17th. The stock was sold at an average price of $40.32, for a total transaction of $80,640.00. Following the completion of the transaction, the senior vice president now directly owns 23,470 shares of the company’s stock, valued at approximately $946,310.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Rick Hamilton sold 2,540 shares of the stock in a transaction that occurred on Wednesday, September 21st. The stock was sold at an average price of $40.79, for a total value of $103,606.60. Following the transaction, the senior vice president now directly owns 64,247 shares of the company’s stock, valued at $2,620,635.13. The disclosure for this sale can be found here. In the last three months, insiders sold 36,208 shares of company stock valued at $1,549,651. Corporate insiders own 0.94% of the company’s stock.

Ciena Company Profile

(Get Rating)

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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Institutional Ownership by Quarter for Ciena (NYSE:CIEN)

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