Ciena Co. (NYSE:CIEN) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System reduced its stake in shares of Ciena Co. (NYSE:CIENFree Report) by 5.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 157,177 shares of the communications equipment provider’s stock after selling 8,907 shares during the period. California State Teachers Retirement System owned approximately 0.11% of Ciena worth $7,075,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. John G Ullman & Associates Inc. grew its stake in Ciena by 1.4% during the 4th quarter. John G Ullman & Associates Inc. now owns 14,600 shares of the communications equipment provider’s stock valued at $657,000 after purchasing an additional 200 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in Ciena by 3.7% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 8,321 shares of the communications equipment provider’s stock valued at $393,000 after buying an additional 300 shares during the last quarter. Treasurer of the State of North Carolina increased its holdings in Ciena by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 65,144 shares of the communications equipment provider’s stock worth $3,079,000 after buying an additional 330 shares during the period. HighTower Advisors LLC raised its position in 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 buying an additional 376 shares during the last quarter. Finally, Watershed Asset Management L.L.C. lifted its stake in Ciena by 7.6% during the 4th quarter. Watershed Asset Management L.L.C. now owns 5,929 shares of the communications equipment provider’s stock valued at $267,000 after acquiring an additional 418 shares during the period. 91.99% of the stock is owned by hedge funds and other institutional investors.

Ciena Stock Performance

CIEN opened at $45.75 on Monday. The company has a market cap of $6.62 billion, a price-to-earnings ratio of 43.99, a PEG ratio of 3.16 and a beta of 0.99. The firm’s fifty day simple moving average is $47.52 and its two-hundred day simple moving average is $49.31. The company has a quick ratio of 3.12, a current ratio of 3.88 and a debt-to-equity ratio of 0.53. Ciena Co. has a 52-week low of $39.94 and a 52-week high of $63.24.

Ciena (NYSE:CIENGet Free Report) last posted its quarterly earnings data on Thursday, June 6th. The communications equipment provider reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.12. The company 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%. Ciena’s revenue was down 19.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.59 EPS. Equities analysts anticipate that Ciena Co. will post 1.43 earnings per share for the current fiscal year.

Insider Activity at Ciena

In other news, SVP David M. Rothenstein sold 3,500 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $50.19, for a total transaction of $175,665.00. Following the completion of the sale, the senior vice president now owns 230,001 shares of the company’s stock, valued at $11,543,750.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Gary B. Smith sold 4,166 shares of Ciena stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $44.80, for a total transaction of $186,636.80. Following the transaction, the chief executive officer now owns 385,109 shares in the company, valued at $17,252,883.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP David M. Rothenstein sold 3,500 shares of the company’s stock in a transaction 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 sale, the senior vice president now 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 29,307 shares of company stock valued at $1,414,330. 0.83% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $65.00 price objective on shares of Ciena in a research note on Monday, June 3rd. 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. Citigroup started coverage on Ciena in a report on Friday, April 12th. They set a “sell” rating and a $44.00 target price on the stock. StockNews.com raised Ciena from a “sell” rating to a “hold” rating in a report on Friday, March 8th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Ciena from $67.00 to $60.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $57.58.

Check Out Our Latest Research Report on Ciena

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.

Further Reading

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.