Stifel Financial Corp Grows Stock Holdings in Ciena Co. (NYSE:CIEN)

Stifel Financial Corp increased its holdings in shares of Ciena Co. (NYSE:CIENFree Report) by 3.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 119,628 shares of the communications equipment provider’s stock after purchasing an additional 3,692 shares during the period. Stifel Financial Corp owned approximately 0.08% of Ciena worth $5,384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Jump Financial LLC acquired a new stake in shares of Ciena during the 3rd quarter worth approximately $508,000. Swiss National Bank increased its stake in shares of Ciena by 1.2% in the 3rd quarter. Swiss National Bank now owns 328,600 shares of the communications equipment provider’s stock valued at $15,530,000 after purchasing an additional 3,900 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in shares of Ciena by 3.7% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 8,321 shares of the communications equipment provider’s stock worth $393,000 after buying an additional 300 shares during the period. Pathstone Family Office LLC raised its position in Ciena by 43.7% during the third quarter. Pathstone Family Office LLC now owns 7,431 shares of the communications equipment provider’s stock worth $351,000 after acquiring an additional 2,261 shares during the period. Finally, HighTower Advisors LLC raised its position in shares of Ciena by 2.2% during the 3rd quarter. HighTower Advisors LLC now owns 17,585 shares of the communications equipment provider’s stock worth $833,000 after purchasing an additional 376 shares during the last quarter. 91.99% of the stock is currently owned by institutional investors and hedge funds.

Ciena Price Performance

CIEN opened at $45.75 on Friday. The firm has a market cap of $6.62 billion, a price-to-earnings ratio of 43.99, a PEG ratio of 3.36 and a beta of 0.99. Ciena Co. has a 12-month low of $39.94 and a 12-month high of $63.24. The company has a current ratio of 3.88, a quick ratio of 3.12 and a debt-to-equity ratio of 0.53. The stock’s 50-day moving average price is $47.52 and its 200 day moving average price is $49.28.

Ciena (NYSE:CIENGet Free Report) last announced its quarterly earnings data on Thursday, June 6th. The communications equipment provider reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.12. The business had revenue of $910.80 million for the quarter, compared to analysts’ expectations of $895.80 million. Ciena had a return on equity of 7.16% and a net margin of 3.71%. The company’s revenue for the quarter was down 19.6% compared to the same quarter last year. During the same period last year, the firm earned $0.59 earnings per share. As a group, sell-side analysts expect that Ciena Co. will post 1.43 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Gary B. Smith sold 4,166 shares of Ciena stock in a transaction on 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 of the company’s stock, valued at approximately $17,881,601.89. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Gary B. Smith sold 4,166 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $47.99, for a total transaction of $199,926.34. Following the sale, the chief executive officer now owns 372,611 shares of the company’s stock, valued at approximately $17,881,601.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Joseph Cumello sold 3,156 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $45.74, for a total value of $144,355.44. Following the completion of the transaction, the senior vice president now directly owns 51,171 shares of the company’s stock, valued at $2,340,561.54. The disclosure for this sale can be found here. Insiders sold 29,307 shares of company stock worth $1,414,330 in the last 90 days. Corporate insiders own 0.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on CIEN shares. Barclays reduced their price objective on Ciena from $63.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday. Evercore ISI lifted their target price on shares of Ciena from $57.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. StockNews.com raised shares of Ciena from a “sell” rating to a “hold” rating in a research note on Friday, March 8th. B. Riley reduced their price target on shares of Ciena from $68.00 to $66.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $65.00 price objective on shares of Ciena in a research report on Monday, June 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.58.

View Our Latest Report on CIEN

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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