Amalgamated Bank Has $4.49 Million Stock Position in Ciena Co. (NYSE:CIEN)

Amalgamated Bank decreased its stake in Ciena Co. (NYSE:CIENFree Report) by 2.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 95,079 shares of the communications equipment provider’s stock after selling 2,080 shares during the period. Amalgamated Bank owned approximately 0.06% of Ciena worth $4,493,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Ciena by 26.9% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,286,175 shares of the communications equipment provider’s stock worth $182,119,000 after purchasing an additional 907,589 shares during the last quarter. State Street Corp raised its stake in Ciena by 0.7% in the 1st quarter. State Street Corp now owns 4,262,245 shares of the communications equipment provider’s stock valued at $223,853,000 after acquiring an additional 31,333 shares during the period. Bank of America Corp DE grew its holdings in shares of Ciena by 11.7% during the 1st quarter. Bank of America Corp DE now owns 4,052,505 shares of the communications equipment provider’s stock worth $212,838,000 after purchasing an additional 424,453 shares in the last quarter. Victory Capital Management Inc. raised its position in Ciena by 10.5% during the second quarter. Victory Capital Management Inc. now owns 2,559,047 shares of the communications equipment provider’s stock valued at $108,734,000 after purchasing an additional 242,394 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Ciena by 8.6% in the first quarter. JPMorgan Chase & Co. now owns 2,498,611 shares of the communications equipment provider’s stock valued at $131,227,000 after purchasing an additional 197,704 shares during the period. Institutional investors and hedge funds own 90.02% of the company’s stock.

Ciena Trading Up 1.6 %

Shares of NYSE CIEN opened at $55.79 on Thursday. The firm’s 50 day moving average price is $47.94 and its 200-day moving average price is $45.52. The company has a market cap of $8.08 billion, a PE ratio of 32.63, a P/E/G ratio of 1.75 and a beta of 1.01. Ciena Co. has a 52-week low of $39.94 and a 52-week high of $56.27. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.71 and a current ratio of 3.84.

Ciena (NYSE:CIENGet Free Report) last released its quarterly earnings data on Thursday, December 7th. The communications equipment provider reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.06. Ciena had a net margin of 5.81% and a return on equity of 10.28%. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the previous year, the company earned $0.49 earnings per share. The firm’s quarterly revenue was up 16.4% on a year-over-year basis. On average, equities research analysts expect that Ciena Co. will post 2.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. B. Riley raised their price target on shares of Ciena from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, December 8th. Barclays increased their price objective on shares of Ciena from $59.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, December 8th. Evercore ISI upgraded shares of Ciena from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $52.00 to $57.00 in a research note on Friday, January 12th. TheStreet upgraded shares of Ciena from a “c” rating to a “b-” rating in a research note on Thursday, December 7th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $60.00 price objective on shares of Ciena in a research note on Thursday, December 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $59.79.

Get Our Latest Research Report on CIEN

Insider Transactions at Ciena

In related news, SVP Joseph Cumello sold 1,212 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $45.96, for a total transaction of $55,703.52. Following the completion of the transaction, the senior vice president now owns 36,951 shares in the company, valued at $1,698,267.96. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Ciena news, SVP Jason Phipps sold 9,574 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $44.53, for a total transaction of $426,330.22. Following the transaction, the senior vice president now owns 105,414 shares of the company’s stock, valued at approximately $4,694,085.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Joseph Cumello sold 1,212 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $45.96, for a total transaction of $55,703.52. Following the completion of the sale, the senior vice president now owns 36,951 shares in the company, valued at $1,698,267.96. The disclosure for this sale can be found here. Insiders sold a total of 105,288 shares of company stock valued at $5,417,833 over the last three months. Corporate insiders own 0.99% of the company’s stock.

Ciena Profile

(Free Report)

Ciena Corporation provides hardware and software services for delivery of video, data, and voice traffic metro, aggregation, and access communications network worldwide. The company's Networking Platforms segment offers convergence of coherent optical transport, open optical networking, optical transport network switching, IP routing, and switching services.

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Institutional Ownership by Quarter for Ciena (NYSE:CIEN)

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