Cambridge Investment Research Advisors Inc. decreased its stake in shares of Ciena Co. (NYSE:CIEN – Get Rating) by 53.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,060 shares of the communications equipment provider’s stock after selling 10,352 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Ciena were worth $462,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in CIEN. Capital World Investors acquired a new position in shares of Ciena during the 1st quarter worth approximately $108,564,000. Diamond Hill Capital Management Inc. bought a new stake in shares of Ciena during the 3rd quarter valued at $61,849,000. BlackRock Inc. lifted its position in shares of Ciena by 5.9% during the 3rd quarter. BlackRock Inc. now owns 16,827,359 shares of the communications equipment provider’s stock valued at $680,330,000 after acquiring an additional 933,250 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Ciena during the 3rd quarter valued at $34,636,000. Finally, Weiss Multi Strategy Advisers LLC lifted its position in shares of Ciena by 564.1% during the 1st quarter. Weiss Multi Strategy Advisers LLC now owns 499,367 shares of the communications equipment provider’s stock valued at $30,277,000 after acquiring an additional 424,173 shares during the period. Institutional investors and hedge funds own 96.26% of the company’s stock.
Analyst Ratings Changes
A number of analysts have recently weighed in on CIEN shares. Loop Capital upped their target price on Ciena from $69.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, March 30th. Raymond James raised Ciena from an “outperform” rating to a “strong-buy” rating and boosted their price target for the stock from $58.00 to $70.00 in a report on Tuesday, March 28th. Westpark Capital began coverage on Ciena in a report on Wednesday, April 5th. They set a “buy” rating for the company. JPMorgan Chase & Co. boosted their price target on Ciena from $66.00 to $67.00 and gave the stock an “overweight” rating in a report on Wednesday, April 19th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $65.00 price target on shares of Ciena in a report on Tuesday, February 28th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Ciena currently has an average rating of “Moderate Buy” and an average price target of $65.44.
Ciena Stock Performance
Shares of CIEN opened at $45.14 on Friday. The firm has a market cap of $6.73 billion, a PE ratio of 37.00, a PEG ratio of 1.40 and a beta of 1.00. The stock’s fifty day moving average price is $47.54 and its two-hundred day moving average price is $48.15. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.70 and a quick ratio of 2.54. Ciena Co. has a 1 year low of $38.33 and a 1 year high of $56.38.
Ciena (NYSE:CIEN – Get Rating) last posted its earnings results on Monday, March 6th. The communications equipment provider reported $0.64 EPS for the quarter, topping the consensus estimate of $0.36 by $0.28. Ciena had a return on equity of 8.22% and a net margin of 4.77%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $959.04 million. During the same period in the previous year, the business earned $0.35 earnings per share. The firm’s revenue was up 25.1% on a year-over-year basis. On average, equities research analysts forecast that Ciena Co. will post 2.16 EPS for the current year.
Ciena Corp. engages in the provision of network and communication infrastructure. It operates through the following segments: Networking Platforms, Platform Software and Services, Blue Planet Automation Software and Services, and Global Services. The Networking Platforms segment consists of Converged Packet Optical and Packet Networking portfolios.
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