Ciena Co. (NYSE:CIEN) Position Trimmed by Intrust Bank NA

Intrust Bank NA decreased its position in Ciena Co. (NYSE:CIEN) by 4.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 8,053 shares of the communications equipment provider’s stock after selling 361 shares during the period. Intrust Bank NA’s holdings in Ciena were worth $362,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of CIEN. Stanley Laman Group Ltd. grew its stake in Ciena by 3.3% in the 4th quarter. Stanley Laman Group Ltd. now owns 76,082 shares of the communications equipment provider’s stock valued at $3,424,000 after buying an additional 2,420 shares during the last quarter. Watershed Asset Management L.L.C. increased its position in shares of Ciena by 7.6% during the 4th quarter. Watershed Asset Management L.L.C. now owns 5,929 shares of the communications equipment provider’s stock worth $267,000 after purchasing an additional 418 shares in the last quarter. LHM Inc. acquired a new stake in shares of Ciena during the 4th quarter worth about $767,000. John G Ullman & Associates Inc. increased its position in Ciena by 1.4% in the 4th quarter. John G Ullman & Associates Inc. now owns 14,600 shares of the communications equipment provider’s stock valued at $657,000 after acquiring an additional 200 shares in the last quarter. Finally, Calamos Advisors LLC increased its position in Ciena by 7.9% in the 4th quarter. Calamos Advisors LLC now owns 11,400 shares of the communications equipment provider’s stock valued at $513,000 after acquiring an additional 839 shares in the last quarter. Institutional investors and hedge funds own 91.99% of the company’s stock.

Ciena Stock Up 0.8 %

Shares of NYSE:CIEN opened at $46.62 on Thursday. The firm has a market cap of $6.74 billion, a P/E ratio of 30.27, a P/E/G ratio of 2.14 and a beta of 0.99. The company has a quick ratio of 3.12, a current ratio of 4.29 and a debt-to-equity ratio of 0.53. Ciena Co. has a 12-month low of $39.94 and a 12-month high of $63.24. The business has a fifty day simple moving average of $50.33 and a 200 day simple moving average of $48.28.

Ciena (NYSE:CIEN) last announced its earnings results on Thursday, March 7th. The communications equipment provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.18. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. Ciena had a return on equity of 9.92% and a net margin of 5.22%. Ciena’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period last year, the company earned $0.48 EPS. Analysts predict that Ciena Co. will post 1.46 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. StockNews.com upgraded shares of Ciena from a “sell” rating to a “hold” rating in a research report on Friday, March 8th. Citigroup started coverage on shares of Ciena in a research note on Friday, April 12th. They issued a “sell” rating and a $44.00 price target on the stock. BNP Paribas started coverage on shares of Ciena in a research note on Thursday, April 11th. They issued an “outperform” rating and a $57.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Ciena from $56.00 to $67.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. Finally, Evercore ISI boosted their price objective on shares of Ciena from $57.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Ciena has an average rating of “Moderate Buy” and a consensus target price of $58.79.

Insiders Place Their Bets

In other Ciena news, SVP Brodie Gage sold 533 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $49.61, for a total transaction of $26,442.13. Following the completion of the sale, the senior vice president now directly owns 41,372 shares in the company, valued at approximately $2,052,464.92. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, SVP David M. Rothenstein sold 3,500 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $50.19, for a total value of $175,665.00. Following the completion of the sale, the senior vice president now directly owns 230,001 shares in the company, valued at approximately $11,543,750.19. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Brodie Gage sold 533 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $49.61, for a total value of $26,442.13. Following the completion of the sale, the senior vice president now owns 41,372 shares of the company’s stock, valued at $2,052,464.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,351 shares of company stock worth $1,921,835. Company insiders own 0.83% of the company’s stock.

Ciena Company Profile

Ciena Corporation provides hardware and software services for delivery of video, data, and voice traffic metro, aggregation, and access communications network worldwide. The company's Networking Platforms segment offers convergence of coherent optical transport, open optical networking, optical transport network switching, IP routing, and switching services.