Capital Fund Management S.A. Raises Stock Holdings in Ciena Co. (NYSE:CIEN)

Capital Fund Management S.A. grew its holdings in Ciena Co. (NYSE:CIENFree Report) by 67.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 225,172 shares of the communications equipment provider’s stock after acquiring an additional 90,610 shares during the quarter. Capital Fund Management S.A.’s holdings in Ciena were worth $10,135,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CIEN. Johnson Financial Group Inc. acquired a new position in shares of Ciena during the 4th quarter worth about $61,000. Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of Ciena during the third quarter valued at approximately $101,000. Operose Advisors LLC lifted its position in shares of Ciena by 19.0% in the third quarter. Operose Advisors LLC now owns 3,214 shares of the communications equipment provider’s stock valued at $152,000 after acquiring an additional 514 shares in the last quarter. Claret Asset Management Corp acquired a new stake in shares of Ciena in the third quarter worth approximately $203,000. Finally, Jaffetilchin Investment Partners LLC purchased a new stake in shares of Ciena during the third quarter worth approximately $212,000. 91.99% of the stock is owned by institutional investors and hedge funds.

Ciena Stock Up 0.2 %

Shares of NYSE CIEN opened at $45.82 on Tuesday. The company has a market capitalization of $6.58 billion, a P/E ratio of 44.06, a P/E/G ratio of 3.83 and a beta of 0.99. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.88 and a quick ratio of 2.76. The company has a 50 day simple moving average of $47.52 and a 200-day simple moving average of $49.33. Ciena Co. has a 1 year low of $39.94 and a 1 year high of $63.24.

Ciena (NYSE:CIENGet Free Report) last issued its quarterly earnings data on Thursday, June 6th. The communications equipment provider reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.12. Ciena had a return on equity of 7.16% and a net margin of 3.71%. The company had revenue of $910.80 million during the quarter, compared to analyst estimates of $895.80 million. During the same period in the prior year, the business posted $0.59 earnings per share. The firm’s revenue for the quarter was down 19.6% compared to the same quarter last year. On average, equities research analysts predict that Ciena Co. will post 1.43 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on CIEN. Rosenblatt Securities raised their price objective on Ciena from $52.50 to $54.00 and gave the company a “neutral” rating in a report on Friday. Raymond James cut shares of Ciena from a “strong-buy” rating to an “outperform” rating and reduced their target price for the company from $59.00 to $54.00 in a research report on Thursday, June 6th. Citigroup initiated coverage on shares of Ciena in a research report on Friday, April 12th. They set a “sell” rating and a $44.00 price target on the stock. StockNews.com upgraded shares of Ciena from a “sell” rating to a “hold” rating in a report on Friday, March 8th. Finally, BNP Paribas began coverage on Ciena in a report on Thursday, April 11th. They set an “outperform” rating and a $57.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $57.58.

Read Our Latest Research Report on CIEN

Insider Transactions at Ciena

In other Ciena news, CEO Gary B. Smith sold 4,166 shares of Ciena stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $47.99, for a total transaction of $199,926.34. Following the completion of the sale, the chief executive officer now directly owns 372,611 shares in the company, valued at $17,881,601.89. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Ciena news, SVP David M. Rothenstein sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $50.19, for a total value of $175,665.00. Following the sale, the senior vice president now owns 230,001 shares of the company’s stock, valued at $11,543,750.19. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Gary B. Smith sold 4,166 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $47.99, for a total value of $199,926.34. Following the transaction, the chief executive officer now owns 372,611 shares in the company, valued at $17,881,601.89. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,307 shares of company stock worth $1,414,330. 0.83% of the stock is currently owned by company insiders.

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.

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Institutional Ownership by Quarter for Ciena (NYSE:CIEN)

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