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

Capital Fund Management S.A. grew its holdings in shares of Ciena Co. (NYSE:CIENFree Report) by 67.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 225,172 shares of the communications equipment provider’s stock after purchasing an additional 90,610 shares during the quarter. Capital Fund Management S.A. owned approximately 0.16% of Ciena worth $10,135,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Atreides Management LP bought a new position in Ciena in the third quarter worth approximately $77,883,000. Norges Bank bought a new position in Ciena in the 4th quarter worth $73,476,000. Capital World Investors raised its holdings in Ciena by 29.1% in the 4th quarter. Capital World Investors now owns 3,513,633 shares of the communications equipment provider’s stock worth $158,149,000 after purchasing an additional 791,215 shares during the period. Senvest Management LLC grew its holdings in Ciena by 23.0% during the fourth quarter. Senvest Management LLC now owns 2,952,264 shares of the communications equipment provider’s stock valued at $132,881,000 after purchasing an additional 552,882 shares during the period. Finally, BNP Paribas Financial Markets increased its position in Ciena by 267.9% in the fourth quarter. BNP Paribas Financial Markets now owns 550,290 shares of the communications equipment provider’s stock worth $24,769,000 after buying an additional 400,713 shares in the last quarter. Institutional investors own 91.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their price objective on Ciena from $67.00 to $60.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Needham & Company LLC reiterated a “buy” rating and issued a $65.00 price target on shares of Ciena in a research report on Monday, June 3rd. BNP Paribas assumed coverage on shares of Ciena in a research report on Thursday, April 11th. They set an “outperform” rating and a $57.00 price objective on the stock. Barclays lowered their target price on shares of Ciena from $63.00 to $55.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, StockNews.com upgraded Ciena from a “sell” rating to a “hold” rating in a research note on Friday, March 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $57.58.

Get Our Latest Stock Report on CIEN

Ciena Trading Up 0.2 %

Shares of Ciena stock opened at $45.82 on Tuesday. The company has a quick ratio of 2.76, a current ratio of 3.88 and a debt-to-equity ratio of 0.53. The firm has a market cap of $6.58 billion, a price-to-earnings ratio of 44.06, a PEG ratio of 3.83 and a beta of 0.99. Ciena Co. has a twelve month low of $39.94 and a twelve month high of $63.24. The business has a 50-day moving average price of $47.52 and a 200-day moving average price of $49.33.

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

Insider Buying and Selling at Ciena

In other news, SVP David M. Rothenstein sold 3,500 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $50.19, for a total value of $175,665.00. Following the sale, the senior vice president now directly owns 230,001 shares in the company, valued at approximately $11,543,750.19. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Gary B. Smith sold 4,166 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $44.80, for a total value of $186,636.80. Following the completion of the sale, the chief executive officer now directly owns 385,109 shares in the company, valued at $17,252,883.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP David M. Rothenstein sold 3,500 shares of Ciena stock in a transaction on Friday, March 15th. The stock was sold at an average price of $50.19, for a total transaction of $175,665.00. Following 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. Insiders sold 29,307 shares of company stock worth $1,414,330 over the last 90 days. 0.83% of the stock is owned by 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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