Cambridge Investment Research Advisors Inc. Has $462,000 Stock Position in Ciena Co. (NYSE:CIEN)

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.

Insider Activity

In related news, CEO Gary B. Smith sold 3,541 shares of the company’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $51.16, for a total value of $181,157.56. Following the transaction, the chief executive officer now owns 476,864 shares in the company, valued at approximately $24,396,362.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Ciena news, SVP David M. Rothenstein sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $43.50, for a total value of $152,250.00. Following the completion of the transaction, the senior vice president now directly owns 240,975 shares in the company, valued at approximately $10,482,412.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gary B. Smith sold 3,541 shares of the company’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $51.16, for a total value of $181,157.56. Following the completion of the transaction, the chief executive officer now owns 476,864 shares of the company’s stock, valued at $24,396,362.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,082 shares of company stock worth $979,572. Corporate insiders own 0.99% of the company’s stock.

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 Profile

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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.