Ciena Co. (CIEN) Stake Increased by Signaturefd LLC

Signaturefd LLC raised its position in shares of Ciena Co. (NYSE:CIEN) by 484.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,534 shares of the communications equipment provider’s stock after buying an additional 4,587 shares during the period. Signaturefd LLC’s holdings in Ciena were worth $147,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CIEN. Managed Asset Portfolios LLC grew its stake in shares of Ciena by 7.5% during the first quarter. Managed Asset Portfolios LLC now owns 404,960 shares of the communications equipment provider’s stock valued at $10,489,000 after purchasing an additional 28,137 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Ciena by 220.7% during the second quarter. Jennison Associates LLC now owns 66,042 shares of the communications equipment provider’s stock valued at $1,751,000 after purchasing an additional 45,450 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Ciena by 610.6% during the second quarter. First Trust Advisors LP now owns 154,508 shares of the communications equipment provider’s stock valued at $4,096,000 after purchasing an additional 132,765 shares during the last quarter. TCW Group Inc. grew its stake in shares of Ciena by 19.1% during the first quarter. TCW Group Inc. now owns 760,954 shares of the communications equipment provider’s stock valued at $19,709,000 after purchasing an additional 121,888 shares during the last quarter. Finally, Oakbrook Investments LLC bought a new stake in shares of Ciena during the second quarter valued at approximately $292,000.

Shares of CIEN stock opened at $31.06 on Friday. Ciena Co. has a 52-week low of $19.40 and a 52-week high of $32.33. The company has a market capitalization of $4.51 billion, a price-to-earnings ratio of 30.13, a price-to-earnings-growth ratio of 1.87 and a beta of 1.36. The company has a current ratio of 1.97, a quick ratio of 1.76 and a debt-to-equity ratio of 0.33.

Ciena (NYSE:CIEN) last announced its quarterly earnings data on Thursday, August 30th. The communications equipment provider reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.12. Ciena had a net margin of 25.56% and a return on equity of 8.56%. The firm had revenue of $818.82 million for the quarter, compared to analysts’ expectations of $792.28 million. During the same period last year, the firm earned $0.51 earnings per share. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. equities analysts anticipate that Ciena Co. will post 1.09 earnings per share for the current year.

Several analysts have recently commented on CIEN shares. MKM Partners cut shares of Ciena to a “buy” rating and set a $32.00 price target on the stock. in a research note on Wednesday, July 18th. Deutsche Bank increased their price target on shares of Ciena from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Friday, August 31st. Zacks Investment Research raised shares of Ciena from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research note on Tuesday, June 5th. Loop Capital reissued a “buy” rating and set a $36.00 price target on shares of Ciena in a research note on Thursday, August 30th. Finally, Citigroup increased their price target on shares of Ciena from $29.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, August 31st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. Ciena currently has an average rating of “Buy” and a consensus target price of $32.41.

In other Ciena news, SVP James E. Moylan, Jr. sold 2,000 shares of the stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $31.75, for a total value of $63,500.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Gary B. Smith sold 12,948 shares of the stock in a transaction on Thursday, June 21st. The stock was sold at an average price of $25.55, for a total transaction of $330,821.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 72,362 shares of company stock worth $1,961,460. Insiders own 1.38% of the company’s stock.

Ciena Company Profile

Ciena Corporation provides hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of voice, video, and data traffic on communications networks worldwide. The company's Networking Platforms segment offers hardware networking solutions optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching.

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Institutional Ownership by Quarter for Ciena (NYSE:CIEN)

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