US Bancorp DE Has $847,000 Holdings in Ciena Corporation $CIEN

US Bancorp DE reduced its stake in shares of Ciena Corporation (NYSE:CIEN) by 5.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,418 shares of the communications equipment provider’s stock after selling 560 shares during the quarter. US Bancorp DE’s holdings in Ciena were worth $847,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CIEN. Nuveen LLC bought a new stake in Ciena in the 1st quarter valued at $70,065,000. Vaughan Nelson Investment Management L.P. increased its holdings in Ciena by 375.4% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,235,696 shares of the communications equipment provider’s stock valued at $100,499,000 after buying an additional 975,792 shares during the period. Woodline Partners LP bought a new stake in Ciena in the 1st quarter valued at $49,221,000. Assenagon Asset Management S.A. increased its holdings in Ciena by 1,883.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 787,266 shares of the communications equipment provider’s stock valued at $64,028,000 after buying an additional 747,576 shares during the period. Finally, Foundations Investment Advisors LLC bought a new stake in Ciena in the 1st quarter valued at $12,973,000. Institutional investors own 91.99% of the company’s stock.

Ciena Stock Up 0.3%

Shares of NYSE:CIEN opened at $171.37 on Friday. Ciena Corporation has a 12 month low of $49.21 and a 12 month high of $176.88. The company’s 50-day moving average price is $125.66 and its two-hundred day moving average price is $93.24. The company has a quick ratio of 2.52, a current ratio of 3.28 and a debt-to-equity ratio of 0.55. The firm has a market cap of $24.17 billion, a P/E ratio of 176.67, a P/E/G ratio of 2.37 and a beta of 1.15.

Ciena (NYSE:CIEN) last issued its quarterly earnings data on Thursday, April 6th. The communications equipment provider reported $0.47 EPS for the quarter. Ciena had a net margin of 3.10% and a return on equity of 6.62%. The firm had revenue of $844.44 million for the quarter. As a group, research analysts forecast that Ciena Corporation will post 1.6 EPS for the current fiscal year.

Insider Activity at Ciena

In other Ciena news, SVP Brodie Gage sold 350 shares of the stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $169.36, for a total transaction of $59,276.00. Following the sale, the senior vice president owned 40,653 shares of the company’s stock, valued at $6,884,992.08. This represents a 0.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bruce L. Claflin sold 8,461 shares of the stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $140.12, for a total transaction of $1,185,555.32. Following the sale, the director directly owned 54,624 shares in the company, valued at approximately $7,653,914.88. This represents a 13.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,374 shares of company stock worth $5,936,444 in the last quarter. Insiders own 0.93% of the company’s stock.

Wall Street Analyst Weigh In

CIEN has been the topic of several analyst reports. Rosenblatt Securities raised shares of Ciena from a “neutral” rating to a “buy” rating and boosted their price target for the company from $127.50 to $175.00 in a report on Friday, September 26th. B. Riley reissued a “neutral” rating and issued a $113.00 price target (up previously from $90.00) on shares of Ciena in a report on Friday, September 5th. Wolfe Research raised shares of Ciena to a “strong-buy” rating in a report on Tuesday, July 8th. JPMorgan Chase & Co. upped their target price on shares of Ciena from $105.00 to $140.00 and gave the stock an “overweight” rating in a report on Friday, September 5th. Finally, BNP Paribas set a $185.00 target price on shares of Ciena and gave the stock an “outperform” rating in a report on Monday, October 13th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $137.53.

Ciena 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.