Brookwood Investment Group LLC Acquires Shares of 3,960 Ciena Corporation $CIEN

Brookwood Investment Group LLC bought a new position in Ciena Corporation (NYSE:CIEN) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 3,960 shares of the communications equipment provider’s stock, valued at approximately $577,000.

Several other large investors have also recently modified their holdings of CIEN. GAMMA Investing LLC lifted its position in Ciena by 2.3% in the third quarter. GAMMA Investing LLC now owns 4,071 shares of the communications equipment provider’s stock worth $593,000 after buying an additional 92 shares during the last quarter. Wedmont Private Capital raised its stake in shares of 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 acquiring an additional 129 shares during the period. Coldstream Capital Management Inc. lifted its holdings in shares of Ciena by 2.9% in the 2nd quarter. Coldstream Capital Management Inc. now owns 4,693 shares of the communications equipment provider’s stock worth $382,000 after acquiring an additional 132 shares during the last quarter. Bayforest Capital Ltd lifted its holdings in shares of Ciena by 34.7% in the 1st quarter. Bayforest Capital Ltd now owns 636 shares of the communications equipment provider’s stock worth $38,000 after acquiring an additional 164 shares during the last quarter. Finally, Rafferty Asset Management LLC boosted its stake in shares of Ciena by 2.3% during the 2nd quarter. Rafferty Asset Management LLC now owns 8,353 shares of the communications equipment provider’s stock worth $679,000 after purchasing an additional 185 shares during the period. Institutional investors own 91.99% of the company’s stock.

Ciena Trading Up 5.2%

Shares of NYSE CIEN opened at $246.15 on Friday. Ciena Corporation has a twelve month low of $49.21 and a twelve month high of $248.50. The firm has a market cap of $34.67 billion, a PE ratio of 289.59, a price-to-earnings-growth ratio of 1.41 and a beta of 1.13. The business has a fifty day simple moving average of $207.91 and a two-hundred day simple moving average of $144.98. The company has a quick ratio of 2.09, a current ratio of 2.73 and a debt-to-equity ratio of 0.56.

Ciena (NYSE:CIEN) last announced its quarterly earnings results on Thursday, December 11th. The communications equipment provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.76 by $0.15. Ciena had a return on equity of 8.38% and a net margin of 2.59%.The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter last year, the firm posted $0.54 earnings per share. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. Analysts expect that Ciena Corporation will post 1.6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CIEN. Needham & Company LLC increased their price objective on shares of Ciena to $280.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. BNP Paribas Exane upgraded Ciena from a “neutral” rating to an “outperform” rating and set a $185.00 price target on the stock in a report on Monday, October 13th. Northland Securities set a $190.00 price objective on Ciena and gave the company a “market perform” rating in a report on Friday, December 12th. BNP Paribas set a $185.00 price objective on Ciena and gave the company an “outperform” rating in a research report on Monday, October 13th. Finally, Rosenblatt Securities lifted their target price on Ciena from $175.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Ciena currently has an average rating of “Moderate Buy” and an average target price of $237.50.

Insider Activity

In other news, CEO Gary B. Smith sold 6,800 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $233.46, for a total value of $1,587,528.00. Following the completion of the sale, the chief executive officer owned 391,437 shares of the company’s stock, valued at approximately $91,384,882.02. This represents a 1.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas Michael Nevens sold 8,554 shares of Ciena stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $224.66, for a total transaction of $1,921,741.64. Following the transaction, the director directly owned 9,422 shares in the company, valued at approximately $2,116,746.52. The trade was a 47.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 43,565 shares of company stock worth $8,897,954. 0.93% of the stock is currently owned by corporate insiders.

Ciena Company Profile

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.