Hsbc Holdings PLC Has $4.08 Million Stake in Ciena Co. (NYSE:CIEN)

Hsbc Holdings PLC boosted its stake in shares of Ciena Co. (NYSE:CIENFree Report) by 79.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 90,699 shares of the communications equipment provider’s stock after buying an additional 40,102 shares during the quarter. Hsbc Holdings PLC owned approximately 0.06% of Ciena worth $4,082,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Johnson Financial Group Inc. acquired a new position in Ciena during the 4th quarter worth about $61,000. BNP Paribas Asset Management Holding S.A. lifted its holdings in Ciena by 7.9% during the 4th quarter. BNP Paribas Asset Management Holding S.A. now owns 5,021,719 shares of the communications equipment provider’s stock worth $226,028,000 after buying an additional 368,897 shares during the period. Quest Partners LLC acquired a new position in Ciena during the 4th quarter worth about $617,000. Corient Private Wealth LLC lifted its holdings in Ciena by 13.7% during the 4th quarter. Corient Private Wealth LLC now owns 28,384 shares of the communications equipment provider’s stock worth $1,278,000 after buying an additional 3,415 shares during the period. Finally, Coldstream Capital Management Inc. acquired a new position in Ciena during the 4th quarter worth about $204,000. 91.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on the company. BNP Paribas assumed coverage on Ciena in a research note on Thursday, April 11th. They issued an “outperform” rating and a $57.00 price objective on the stock. Citigroup assumed coverage on Ciena in a research note on Friday, April 12th. They issued a “sell” rating and a $44.00 price objective on the stock. JPMorgan Chase & Co. dropped their price objective on Ciena from $67.00 to $60.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. StockNews.com raised Ciena from a “sell” rating to a “hold” rating in a research note on Friday, March 8th. Finally, Evercore ISI boosted their price objective on Ciena from $57.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.39.

Read Our Latest Research Report on Ciena

Ciena Stock Performance

Shares of CIEN opened at $47.09 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 3.12 and a current ratio of 4.29. The stock has a 50 day moving average price of $47.66 and a two-hundred day moving average price of $49.29. The firm has a market capitalization of $6.81 billion, a P/E ratio of 30.58, a P/E/G ratio of 3.33 and a beta of 0.99. Ciena Co. has a 52 week low of $39.94 and a 52 week high of $63.24.

Ciena (NYSE:CIENGet Free Report) last issued its quarterly earnings data on Thursday, March 7th. The communications equipment provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.18. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. Ciena had a return on equity of 9.92% and a net margin of 5.22%. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.48 EPS. Equities analysts forecast that Ciena Co. will post 1.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Brodie Gage sold 533 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $49.61, for a total value of $26,442.13. Following the completion of the transaction, the senior vice president now directly owns 41,372 shares of the company’s stock, valued at $2,052,464.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP Brodie Gage sold 533 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $49.61, for a total value of $26,442.13. Following the completion of the transaction, the senior vice president now directly owns 41,372 shares of the company’s stock, valued at $2,052,464.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP David M. Rothenstein sold 3,500 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $50.19, for a total value of $175,665.00. Following the completion of the transaction, the senior vice president now directly owns 230,001 shares of the company’s stock, valued at $11,543,750.19. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,141 shares of company stock valued at $1,214,404. Corporate insiders own 0.83% of the company’s stock.

Ciena Company 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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