Ciena Co. (NYSE:CIEN) Shares Acquired by Swiss National Bank

Swiss National Bank lifted its stake in shares of Ciena Co. (NYSE:CIENFree Report) by 1.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 328,600 shares of the communications equipment provider’s stock after acquiring an additional 3,900 shares during the quarter. Swiss National Bank’s holdings in Ciena were worth $15,530,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Farther Finance Advisors LLC boosted its stake in shares of Ciena by 63.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 849 shares of the communications equipment provider’s stock worth $36,000 after acquiring an additional 331 shares in the last quarter. Sunbelt Securities Inc. bought a new stake in shares of Ciena during the 1st quarter worth $59,000. State of Wyoming boosted its stake in shares of Ciena by 35.4% during the 4th quarter. State of Wyoming now owns 2,450 shares of the communications equipment provider’s stock worth $125,000 after acquiring an additional 640 shares in the last quarter. Smithfield Trust Co boosted its stake in shares of Ciena by 74.5% during the 3rd quarter. Smithfield Trust Co now owns 2,999 shares of the communications equipment provider’s stock worth $142,000 after acquiring an additional 1,280 shares in the last quarter. Finally, CENTRAL TRUST Co boosted its stake in shares of Ciena by 74.7% during the 3rd quarter. CENTRAL TRUST Co now owns 3,274 shares of the communications equipment provider’s stock worth $133,000 after acquiring an additional 1,400 shares in the last quarter. 90.02% of the stock is owned by institutional investors.

Insider Buying and Selling at Ciena

In other news, CEO Gary B. Smith sold 70,838 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $54.11, for a total value of $3,833,044.18. Following the sale, the chief executive officer now directly owns 424,006 shares of the company’s stock, valued at $22,942,964.66. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Gary B. Smith sold 4,166 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $46.35, for a total value of $193,094.10. Following the sale, the chief executive officer now directly owns 402,676 shares of the company’s stock, valued at $18,664,032.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Gary B. Smith sold 70,838 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $54.11, for a total value of $3,833,044.18. Following the completion of the sale, the chief executive officer now directly owns 424,006 shares in the company, valued at $22,942,964.66. The disclosure for this sale can be found here. Insiders have sold a total of 105,288 shares of company stock worth $5,417,833 over the last three months. Corporate insiders own 0.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CIEN shares. B. Riley increased their target price on Ciena from $67.00 to $68.00 and gave the company a “buy” rating in a report on Friday, December 8th. Rosenblatt Securities restated a “buy” rating and issued a $65.00 target price on shares of Ciena in a report on Friday, December 8th. Evercore ISI upgraded Ciena from an “in-line” rating to an “outperform” rating and increased their target price for the company from $52.00 to $57.00 in a report on Friday, January 12th. Barclays increased their target price on Ciena from $59.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, December 8th. Finally, Needham & Company LLC restated a “buy” rating and issued a $60.00 target price on shares of Ciena in a report on Thursday, December 28th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Ciena currently has an average rating of “Moderate Buy” and an average target price of $59.79.

Check Out Our Latest Stock Report on Ciena

Ciena Price Performance

NYSE CIEN opened at $56.74 on Friday. Ciena Co. has a fifty-two week low of $39.94 and a fifty-two week high of $57.17. The stock’s 50-day moving average is $48.33 and its two-hundred day moving average is $45.71. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.84 and a quick ratio of 2.71. The firm has a market cap of $8.22 billion, a P/E ratio of 33.18, a price-to-earnings-growth ratio of 1.77 and a beta of 1.01.

Ciena (NYSE:CIENGet Free Report) last posted its earnings results 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 return on equity of 10.28% and a net margin of 5.81%. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period last year, the company earned $0.49 earnings per share. The business’s revenue was up 16.4% compared to the same quarter last year. On average, analysts anticipate that Ciena Co. will post 2.09 earnings per share for the current fiscal year.

About Ciena

(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.

Featured Articles

Want to see what other hedge funds are holding CIEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ciena Co. (NYSE:CIENFree Report).

Institutional Ownership by Quarter for Ciena (NYSE:CIEN)

Receive News & Ratings for Ciena Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ciena and related companies with MarketBeat.com's FREE daily email newsletter.