Mitsubishi UFJ Trust & Banking Corp Sells 9,597 Shares of Ciena Co. (NYSE:CIEN)

Mitsubishi UFJ Trust & Banking Corp reduced its stake in shares of Ciena Co. (NYSE:CIENGet Rating) by 94.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 588 shares of the communications equipment provider’s stock after selling 9,597 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Ciena were worth $27,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. IndexIQ Advisors LLC bought a new position in Ciena during the first quarter valued at about $41,000. SeaCrest Wealth Management LLC bought a new position in shares of Ciena in the second quarter worth about $32,000. Archer Investment Corp increased its stake in shares of Ciena by 5,312.5% in the first quarter. Archer Investment Corp now owns 866 shares of the communications equipment provider’s stock worth $52,000 after purchasing an additional 850 shares during the period. Prospera Financial Services Inc bought a new position in shares of Ciena in the first quarter worth about $72,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Ciena by 236.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,808 shares of the communications equipment provider’s stock worth $83,000 after purchasing an additional 1,271 shares during the period. 90.64% of the stock is currently owned by institutional investors.

Insider Activity at Ciena

In related news, CEO Gary B. Smith sold 3,542 shares of the company’s stock in a transaction on Monday, September 19th. The shares were sold at an average price of $41.35, for a total value of $146,461.70. Following the completion of the transaction, the chief executive officer now directly owns 406,627 shares of the company’s stock, valued at approximately $16,814,026.45. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Gary B. Smith sold 3,542 shares of the company’s stock in a transaction on Monday, September 19th. The shares were sold at an average price of $41.35, for a total value of $146,461.70. Following the completion of the transaction, the chief executive officer now directly owns 406,627 shares of the company’s stock, valued at approximately $16,814,026.45. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Stephen B. Alexander sold 2,000 shares of the stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $45.00, for a total transaction of $90,000.00. Following the transaction, the senior vice president now owns 21,470 shares of the company’s stock, valued at $966,150. The disclosure for this sale can be found here. Insiders sold a total of 36,208 shares of company stock worth $1,549,651 in the last quarter. Corporate insiders own 0.94% of the company’s stock.

Ciena Stock Performance

Shares of Ciena stock opened at $44.05 on Friday. The firm has a fifty day moving average of $42.94 and a two-hundred day moving average of $46.84. The stock has a market capitalization of $6.53 billion, a price-to-earnings ratio of 34.69, a PEG ratio of 1.45 and a beta of 1.03. Ciena Co. has a 52 week low of $38.33 and a 52 week high of $78.28. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.58 and a current ratio of 3.48.

Ciena (NYSE:CIENGet Rating) last released its quarterly earnings data on Thursday, September 1st. The communications equipment provider reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.03). Ciena had a net margin of 5.37% and a return on equity of 8.91%. The firm had revenue of $867.30 million during the quarter, compared to the consensus estimate of $903.95 million. During the same quarter in the prior year, the company earned $0.81 EPS. Ciena’s quarterly revenue was down 12.2% on a year-over-year basis. As a group, equities research analysts predict that Ciena Co. will post 0.83 EPS for the current year.

Analysts Set New Price Targets

CIEN has been the topic of a number of recent analyst reports. Raymond James dropped their price objective on Ciena from $64.00 to $55.00 and set an “outperform” rating on the stock in a research note on Friday, September 2nd. Barclays decreased their target price on Ciena from $70.00 to $55.00 in a research report on Friday, September 2nd. MKM Partners assumed coverage on Ciena in a research report on Thursday, August 4th. They set a “buy” rating and a $62.00 target price on the stock. Rosenblatt Securities decreased their price objective on Ciena from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Friday, September 2nd. Finally, StockNews.com assumed coverage on Ciena in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Ciena has a consensus rating of “Moderate Buy” and an average price target of $64.74.

Ciena Profile

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Ciena Corporation provides network hardware, software, and services that support the transport, routing, switching, aggregation, service delivery, and management of video, data, and voice traffic on communications networks worldwide. The company's Networking Platforms segment offers hardware networking products and solutions that optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching.

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Institutional Ownership by Quarter for Ciena (NYSE:CIEN)

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