Ciena Corporation $CIEN Holdings Reduced by Analog Century Management LP

Analog Century Management LP trimmed its holdings in Ciena Corporation (NYSE:CIEN) by 20.2% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 717,741 shares of the communications equipment provider’s stock after selling 181,240 shares during the quarter. Ciena comprises approximately 5.6% of Analog Century Management LP’s portfolio, making the stock its 5th biggest position. Analog Century Management LP owned about 0.51% of Ciena worth $104,553,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Assetmark Inc. grew its holdings in shares of Ciena by 50.4% in the third quarter. Assetmark Inc. now owns 200 shares of the communications equipment provider’s stock worth $29,000 after acquiring an additional 67 shares during the period. Global Retirement Partners LLC raised its stake in Ciena by 11.1% during the 3rd quarter. Global Retirement Partners LLC now owns 698 shares of the communications equipment provider’s stock valued at $102,000 after purchasing an additional 70 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of Ciena by 1.3% in the third quarter. Nisa Investment Advisors LLC now owns 6,475 shares of the communications equipment provider’s stock worth $943,000 after buying an additional 80 shares in the last quarter. GAMMA Investing LLC lifted its stake in 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 in the last quarter. Finally, Clearstead Advisors LLC lifted its position in shares of Ciena by 42.5% in the third quarter. Clearstead Advisors LLC now owns 312 shares of the communications equipment provider’s stock worth $45,000 after buying an additional 93 shares in the last quarter. Institutional investors own 91.99% of the company’s stock.

Ciena Trading Up 0.2%

Shares of CIEN stock opened at $337.50 on Friday. The firm has a market capitalization of $47.72 billion, a P/E ratio of 214.97, a PEG ratio of 1.47 and a beta of 1.08. Ciena Corporation has a fifty-two week low of $49.21 and a fifty-two week high of $365.90. The stock’s fifty day moving average is $284.42 and its two-hundred day moving average is $213.59. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.14 and a current ratio of 2.81.

Ciena (NYSE:CIEN) last announced its quarterly earnings data on Thursday, March 5th. The communications equipment provider reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.18. Ciena had a net margin of 4.47% and a return on equity of 12.09%. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the prior year, the company earned $0.64 EPS. Ciena’s revenue was up 33.1% compared to the same quarter last year. Research analysts expect that Ciena Corporation will post 1.6 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CIEN. Barclays increased their price target on shares of Ciena from $279.00 to $372.00 and gave the company an “overweight” rating in a report on Friday, March 6th. Bank of America upgraded Ciena from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $260.00 to $355.00 in a report on Friday, March 6th. Rosenblatt Securities boosted their price objective on shares of Ciena from $305.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, March 6th. TD Cowen initiated coverage on Ciena in a research report on Thursday. They set a “buy” rating and a $425.00 price target on the stock. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $320.00 price objective (up from $280.00) on shares of Ciena in a research note on Thursday, March 5th. Twelve investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $320.65.

Insider Activity

In related news, SVP Joseph Cumello sold 11,929 shares of the company’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $229.82, for a total value of $2,741,522.78. Following the completion of the sale, the senior vice president owned 49,475 shares of the company’s stock, valued at approximately $11,370,344.50. This represents a 19.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Jason Phipps sold 21,383 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $247.89, for a total transaction of $5,300,631.87. Following the sale, the senior vice president owned 91,765 shares of the company’s stock, valued at $22,747,625.85. This represents a 18.90% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 156,235 shares of company stock worth $36,941,890. Insiders own 0.58% of the company’s stock.

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.