Ciena Corporation $CIEN Holdings Raised by Voya Investment Management LLC

Voya Investment Management LLC grew its stake in shares of Ciena Corporation (NYSE:CIEN) by 116.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 72,324 shares of the communications equipment provider’s stock after purchasing an additional 38,942 shares during the period. Voya Investment Management LLC owned about 0.05% of Ciena worth $4,371,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CIEN. Bessemer Group Inc. lifted its holdings in shares of Ciena by 50.0% in the first quarter. Bessemer Group Inc. now owns 534 shares of the communications equipment provider’s stock valued at $32,000 after purchasing an additional 178 shares in the last quarter. Bayforest Capital Ltd lifted its position in shares of Ciena by 34.7% during the 1st quarter. Bayforest Capital Ltd now owns 636 shares of the communications equipment provider’s stock worth $38,000 after buying an additional 164 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in Ciena by 66.7% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 640 shares of the communications equipment provider’s stock valued at $39,000 after buying an additional 256 shares in the last quarter. AdvisorNet Financial Inc grew its position in shares of Ciena by 9,162.5% during the 1st quarter. AdvisorNet Financial Inc now owns 741 shares of the communications equipment provider’s stock valued at $45,000 after purchasing an additional 733 shares in the last quarter. Finally, National Bank of Canada FI lifted its stake in Ciena by 15.4% in the first quarter. National Bank of Canada FI now owns 1,147 shares of the communications equipment provider’s stock worth $69,000 after purchasing an additional 153 shares during the last quarter. Institutional investors and hedge funds own 91.99% of the company’s stock.

Insider Buying and Selling

In other Ciena news, SVP Joseph Cumello sold 2,044 shares of Ciena stock in a transaction on Friday, June 27th. The stock was sold at an average price of $81.64, for a total value of $166,872.16. Following the completion of the transaction, the senior vice president directly owned 47,198 shares of the company’s stock, valued at $3,853,244.72. The trade was a 4.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jason Phipps sold 2,325 shares of the business’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $80.50, for a total value of $187,162.50. Following the transaction, the senior vice president directly owned 84,833 shares of the company’s stock, valued at $6,829,056.50. This trade represents a 2.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 39,769 shares of company stock valued at $3,769,163 in the last ninety days. 0.93% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CIEN has been the topic of a number of research analyst reports. B. Riley restated a “neutral” rating and set a $113.00 price objective (up previously from $90.00) on shares of Ciena in a research report on Friday, September 5th. Barclays boosted their target price on shares of Ciena from $102.00 to $138.00 and gave the company an “overweight” rating in a research note on Friday, September 5th. Morgan Stanley boosted their target price on shares of Ciena from $70.00 to $100.00 and gave the company an “underweight” rating in a report on Friday, September 5th. Bank of America raised their target price on shares of Ciena from $135.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. lifted their target price on shares of Ciena from $105.00 to $140.00 and gave the company an “overweight” rating in a report on Friday, September 5th. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Ciena presently has a consensus rating of “Moderate Buy” and an average price target of $115.75.

Ciena Trading Up 0.3%

NYSE CIEN opened at $138.48 on Friday. The stock has a 50-day simple moving average of $99.81 and a 200 day simple moving average of $80.93. The company has a market capitalization of $19.53 billion, a PE ratio of 142.76, a P/E/G ratio of 1.99 and a beta of 1.16. The company has a current ratio of 3.28, a quick ratio of 2.52 and a debt-to-equity ratio of 0.55. Ciena Corporation has a 12 month low of $49.21 and a 12 month high of $139.74.

Ciena Company Profile

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.