Rothschild Investment LLC Reduces Stock Position in Ciena Corporation $CIEN

Rothschild Investment LLC reduced its stake in shares of Ciena Corporation (NYSE:CIEN) by 45.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 15,948 shares of the communications equipment provider’s stock after selling 13,515 shares during the quarter. Rothschild Investment LLC’s holdings in Ciena were worth $2,323,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in CIEN. Mather Group LLC. purchased a new position in Ciena during the third quarter valued at $28,000. Assetmark Inc. lifted its stake in Ciena by 50.4% in the 3rd quarter. Assetmark Inc. now owns 200 shares of the communications equipment provider’s stock worth $29,000 after purchasing an additional 67 shares in the last quarter. Ameritas Advisory Services LLC grew its holdings in Ciena by 104.0% in the 3rd quarter. Ameritas Advisory Services LLC now owns 204 shares of the communications equipment provider’s stock valued at $30,000 after buying an additional 104 shares in the last quarter. Salomon & Ludwin LLC purchased a new stake in shares of Ciena in the third quarter valued at about $31,000. Finally, Quent Capital LLC purchased a new stake in shares of Ciena during the 3rd quarter valued at approximately $39,000. 91.99% of the stock is currently owned by institutional investors and hedge funds.

Ciena Price Performance

Shares of NYSE CIEN opened at $303.85 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.09 and a current ratio of 2.73. The company’s fifty day moving average is $245.75 and its two-hundred day moving average is $183.29. Ciena Corporation has a one year low of $49.21 and a one year high of $308.81. The firm has a market capitalization of $42.98 billion, a P/E ratio of 357.48, a PEG ratio of 1.71 and a beta of 1.13.

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

Insider Activity

In other Ciena news, SVP Joseph Cumello sold 11,929 shares of the firm’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $229.82, for a total transaction of $2,741,522.78. Following the sale, the senior vice president directly owned 49,475 shares of the company’s stock, valued at $11,370,344.50. This trade represents a 19.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Patrick Gallagher sold 11,618 shares of Ciena stock in a transaction on Monday, January 12th. The shares were 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 of the company’s stock, valued at approximately $11,414,350.80. This represents a 18.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 157,131 shares of company stock worth $36,320,587 in the last quarter. 0.58% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CIEN. Needham & Company LLC raised their price objective on Ciena to $280.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Stifel Nicolaus upped their price objective on Ciena to $280.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Rosenblatt Securities lifted their target price on Ciena from $175.00 to $305.00 and gave the company a “buy” rating in a report on Friday, December 12th. JPMorgan Chase & Co. boosted their price objective on Ciena from $215.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 12th. Finally, B. Riley Financial restated a “neutral” rating on shares of Ciena in a report on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently 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.