CloudAlpha Capital Management Limited Hong Kong Makes New Investment in Ciena Corporation $CIEN

CloudAlpha Capital Management Limited Hong Kong acquired a new position in shares of Ciena Corporation (NYSE:CIEN) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 143,200 shares of the communications equipment provider’s stock, valued at approximately $20,860,000. Ciena accounts for approximately 0.8% of CloudAlpha Capital Management Limited Hong Kong’s portfolio, making the stock its 22nd largest position. CloudAlpha Capital Management Limited Hong Kong owned approximately 0.10% of Ciena at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Mather Group LLC. bought a new position in Ciena during the 3rd quarter worth $28,000. Salomon & Ludwin LLC acquired a new position in shares of Ciena in the third quarter valued at about $31,000. Quent Capital LLC acquired a new position in shares of Ciena in the third quarter valued at about $39,000. Root Financial Partners LLC bought a new position in Ciena during the third quarter worth about $45,000. Finally, Cloud Capital Management LLC acquired a new stake in Ciena in the 3rd quarter worth about $55,000. Institutional investors own 91.99% of the company’s stock.

Ciena Price Performance

Ciena stock opened at $288.89 on Tuesday. The stock has a 50-day moving average price of $235.94 and a two-hundred day moving average price of $175.96. Ciena Corporation has a 12 month low of $49.21 and a 12 month high of $297.01. The company has a market capitalization of $40.69 billion, a PE ratio of 339.87, a P/E/G ratio of 1.52 and a beta of 1.13. The company has a current ratio of 2.73, a quick ratio of 2.09 and a debt-to-equity ratio of 0.56.

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

Insider Buying and Selling

In related news, Director Patrick Gallagher sold 11,618 shares of the stock in a transaction on Monday, January 12th. The stock was sold at an average price of $227.45, for a total value of $2,642,514.10. Following the completion of the sale, the director directly owned 50,184 shares in the company, valued at $11,414,350.80. This represents a 18.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Thomas Michael Nevens sold 8,554 shares of the company’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $224.66, for a total value of $1,921,741.64. Following the completion of the sale, the director owned 9,422 shares in the company, valued at $2,116,746.52. This trade represents a 47.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 157,242 shares of company stock valued at $36,341,766 over the last quarter. 0.93% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CIEN. Evercore set a $240.00 target price on shares of Ciena in a research report on Thursday, December 11th. Wall Street Zen downgraded Ciena from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 21st. Needham & Company LLC lifted their price objective on Ciena to $280.00 and gave the company a “buy” rating in a report on Thursday, December 11th. B. Riley Financial reiterated a “neutral” rating on shares of Ciena in a research report on Friday, December 12th. Finally, Zacks Research upgraded Ciena from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 23rd. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Ciena has a consensus rating of “Moderate Buy” and a consensus target price of $241.67.

Ciena 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.