Temasek Holdings Private Ltd Purchases New Shares in Ciena Corporation $CIEN

Temasek Holdings Private Ltd purchased a new position in shares of Ciena Corporation (NYSE:CIEN) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 44,437 shares of the communications equipment provider’s stock, valued at approximately $17,252,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Elyxium Wealth LLC acquired a new position in Ciena in the fourth quarter valued at $2,747,810,000. Corient Private Wealth LLC boosted its stake in shares of Ciena by 30,114.5% during the fourth quarter. Corient Private Wealth LLC now owns 2,870,677 shares of the communications equipment provider’s stock worth $671,365,000 after buying an additional 2,861,176 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Ciena by 53.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,051,625 shares of the communications equipment provider’s stock worth $947,554,000 after buying an additional 1,404,132 shares during the period. Atreides Management LP purchased a new position in shares of Ciena during the second quarter worth about $102,705,000. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Ciena by 2,174.2% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,143,855 shares of the communications equipment provider’s stock worth $166,625,000 after buying an additional 1,093,557 shares during the last quarter. 91.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CIEN has been the subject of several analyst reports. Rothschild & Co Redburn initiated coverage on Ciena in a research note on Friday, May 1st. They set a “neutral” rating and a $416.00 price objective for the company. UBS Group lifted their target price on Ciena from $285.00 to $508.00 and gave the company a “neutral” rating in a research note on Friday, June 5th. Northland Securities set a $450.00 target price on Ciena in a report on Friday, June 5th. Barclays upped their price target on Ciena from $372.00 to $607.00 and gave the stock an “overweight” rating in a research note on Friday, June 5th. Finally, Citigroup increased their price target on Ciena from $345.00 to $658.00 and gave the stock a “buy” rating in a report on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $530.56.

Insider Activity at Ciena

In other news, CFO Marc D. Graff sold 126 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $466.20, for a total transaction of $58,741.20. Following the sale, the chief financial officer owned 126,955 shares of the company’s stock, valued at $59,186,421. The trade was a 0.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Brodie Gage sold 1,200 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $570.65, for a total value of $684,780.00. Following the completion of the sale, the senior vice president owned 43,941 shares in the company, valued at approximately $25,074,931.65. This represents a 2.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 21,627 shares of company stock valued at $10,974,985 in the last ninety days. Company insiders own 0.58% of the company’s stock.

Ciena Price Performance

Shares of NYSE CIEN opened at $407.89 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.11 and a current ratio of 2.73. Ciena Corporation has a one year low of $83.20 and a one year high of $637.51. The firm has a market capitalization of $57.74 billion, a P/E ratio of 135.96 and a beta of 1.27. The company’s fifty day moving average is $487.72 and its two-hundred day moving average is $407.13.

Ciena (NYSE:CIEN) last announced its quarterly earnings results on Thursday, June 4th. The communications equipment provider reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.18. Ciena had a net margin of 7.87% and a return on equity of 18.15%. The business had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the firm posted $0.42 EPS. The business’s revenue was up 39.5% compared to the same quarter last year. Analysts forecast that Ciena Corporation will post 5.4 EPS for the current fiscal year.

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.