Ciena Corporation $CIEN Shares Acquired by Brighton Jones LLC

Brighton Jones LLC increased its position in Ciena Corporation (NYSE:CIEN) by 41.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,702 shares of the communications equipment provider’s stock after buying an additional 2,257 shares during the quarter. Brighton Jones LLC’s holdings in Ciena were worth $1,122,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in shares of Ciena by 2.3% in the 3rd quarter. GAMMA Investing LLC now owns 4,071 shares of the communications equipment provider’s stock worth $593,000 after purchasing an additional 92 shares during the period. Wedmont Private Capital raised its holdings in Ciena by 4.5% in the third quarter. Wedmont Private Capital now owns 2,981 shares of the communications equipment provider’s stock valued at $452,000 after buying an additional 129 shares during the period. Coldstream Capital Management Inc. raised its holdings in Ciena by 2.9% in the second quarter. Coldstream Capital Management Inc. now owns 4,693 shares of the communications equipment provider’s stock valued at $382,000 after buying an additional 132 shares during the period. Bayforest Capital Ltd lifted its position in Ciena by 34.7% during the first quarter. Bayforest Capital Ltd now owns 636 shares of the communications equipment provider’s stock valued at $38,000 after buying an additional 164 shares in the last quarter. Finally, Rafferty Asset Management LLC grew its stake in Ciena by 2.3% during the second quarter. Rafferty Asset Management LLC now owns 8,353 shares of the communications equipment provider’s stock worth $679,000 after buying an additional 185 shares during the period. Hedge funds and other institutional investors own 91.99% of the company’s stock.

Ciena Trading Down 0.1%

CIEN opened at $240.06 on Thursday. Ciena Corporation has a 12-month low of $49.21 and a 12-month high of $248.00. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.73 and a quick ratio of 2.09. The stock has a market capitalization of $33.81 billion, a PE ratio of 282.42, a P/E/G ratio of 1.40 and a beta of 1.17. The firm’s fifty day moving average price is $198.50 and its 200 day moving average price is $136.86.

Ciena (NYSE:CIEN) last released its earnings results on Thursday, December 11th. The communications equipment provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.15. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.29 billion. Ciena had a net margin of 2.59% and a return on equity of 8.38%. During the same quarter in the previous year, the firm earned $0.54 EPS. The company’s revenue was up 20.1% on a year-over-year basis. As a group, research analysts expect that Ciena Corporation will post 1.6 EPS for the current fiscal year.

Insider Activity at Ciena

In other news, CEO Gary B. Smith sold 6,800 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $192.61, for a total value of $1,309,748.00. Following the completion of the sale, the chief executive officer directly owned 254,870 shares in the company, valued at approximately $49,090,510.70. The trade was a 2.60% 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, SVP Jason Phipps sold 1,984 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $143.42, for a total value of $284,545.28. Following the transaction, the senior vice president owned 80,244 shares in the company, valued at $11,508,594.48. This trade represents a 2.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 47,412 shares of company stock worth $8,877,100 over the last quarter. 0.93% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CIEN. B. Riley restated a “neutral” rating on shares of Ciena in a report on Friday, December 12th. Bank of America boosted their price objective on Ciena from $200.00 to $260.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Rosenblatt Securities increased their target price on Ciena from $175.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Raymond James Financial set a $240.00 target price on Ciena in a report on Thursday, December 11th. Finally, Needham & Company LLC upped their price target on Ciena to $280.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $237.50.

About Ciena

Ciena Corporation (NYSE: CIEN) is a global supplier of telecommunications networking equipment, software and services. The company develops high-capacity optical transport systems and packet-optical platforms that enable service providers, cloud operators and large enterprises to build, manage and scale their networks. Ciena’s product portfolio includes coherent optical solutions, packet networking platforms and a suite of network automation software designed to optimize bandwidth, reduce latency and simplify network operations.

In addition to hardware offerings, Ciena provides professional services and support, including network design, implementation and ongoing maintenance.