Cetera Investment Advisers Increases Stake in Ciena Corporation $CIEN

Cetera Investment Advisers raised its holdings in shares of Ciena Corporation (NYSE:CIEN) by 24.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,772 shares of the communications equipment provider’s stock after purchasing an additional 4,898 shares during the quarter. Cetera Investment Advisers’ holdings in Ciena were worth $2,015,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Creative Planning grew its stake in Ciena by 9.7% in the 2nd quarter. Creative Planning now owns 22,034 shares of the communications equipment provider’s stock valued at $1,792,000 after buying an additional 1,954 shares in the last quarter. SG Americas Securities LLC boosted its stake in Ciena by 3.7% in the 2nd quarter. SG Americas Securities LLC now owns 9,946 shares of the communications equipment provider’s stock worth $809,000 after purchasing an additional 355 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Ciena by 7.5% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 36,522 shares of the communications equipment provider’s stock worth $2,970,000 after buying an additional 2,550 shares in the last quarter. Foundations Investment Advisors LLC grew its stake in Ciena by 12.3% during the second quarter. Foundations Investment Advisors LLC now owns 241,189 shares of the communications equipment provider’s stock valued at $19,616,000 after acquiring an additional 26,507 shares in the last quarter. Finally, Advisors Capital Management LLC grew its stake in Ciena by 5.1% during the second quarter. Advisors Capital Management LLC now owns 3,961 shares of the communications equipment provider’s stock valued at $322,000 after acquiring an additional 191 shares in the last quarter. Hedge funds and other institutional investors own 91.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CIEN shares. Citigroup boosted their price target on shares of Ciena from $141.00 to $230.00 and gave the company a “buy” rating in a research report on Monday, November 10th. Barclays lifted their price target on Ciena from $102.00 to $138.00 and gave the company an “overweight” rating in a research report on Friday, September 5th. BNP Paribas Exane upgraded shares of Ciena from a “neutral” rating to an “outperform” rating and set a $185.00 price objective on the stock in a research report on Monday, October 13th. Needham & Company LLC lifted their target price on shares of Ciena from $90.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, September 5th. Finally, Evercore ISI increased their price target on shares of Ciena from $120.00 to $200.00 and gave the stock an “in-line” rating in a report on Monday, November 10th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Ciena presently has an average rating of “Moderate Buy” and a consensus target price of $153.20.

Insider Buying and Selling

In other news, Director Bruce L. Claflin sold 8,461 shares of the stock in a transaction that occurred on 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 completion of the sale, the director owned 54,624 shares of the company’s stock, valued at approximately $7,653,914.88. This represents a 13.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Gary B. Smith sold 6,800 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $209.45, for a total transaction of $1,424,260.00. Following the completion of the transaction, the chief executive officer owned 261,670 shares in the company, valued at $54,806,781.50. This represents a 2.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 51,935 shares of company stock valued at $8,029,442. 0.93% of the stock is owned by insiders.

Ciena Trading Up 2.6%

CIEN stock opened at $205.56 on Friday. Ciena Corporation has a one year low of $49.21 and a one year high of $214.17. The company has a market capitalization of $28.99 billion, a PE ratio of 211.91, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17. The company’s 50 day moving average price is $175.20 and its two-hundred day moving average price is $119.75. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.52 and a current ratio of 3.28.

Ciena (NYSE:CIEN) last released its earnings results 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 company had revenue of $844.44 million for the quarter. As a group, analysts predict that Ciena Corporation will post 1.6 earnings per share for the current fiscal year.

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.