Ciena Corporation $CIEN Shares Bought by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. grew its holdings in Ciena Corporation (NYSE:CIEN) by 4.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 332,271 shares of the communications equipment provider’s stock after purchasing an additional 12,986 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.23% of Ciena worth $116,900,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Markowski Investments purchased a new position in Ciena in the 2nd quarter valued at approximately $28,000. Carolina Wealth Advisors LLC lifted its position in shares of Ciena by 57.8% during the second quarter. Carolina Wealth Advisors LLC now owns 71 shares of the communications equipment provider’s stock worth $35,000 after acquiring an additional 26 shares in the last quarter. Asset Dedication LLC lifted its position in shares of Ciena by 2,100.0% during the first quarter. Asset Dedication LLC now owns 88 shares of the communications equipment provider’s stock worth $34,000 after acquiring an additional 84 shares in the last quarter. Bogart Wealth LLC lifted its position in shares of Ciena by 635.7% during the first quarter. Bogart Wealth LLC now owns 103 shares of the communications equipment provider’s stock worth $40,000 after acquiring an additional 89 shares in the last quarter. Finally, Western Wealth Management LLC bought a new position in shares of Ciena in the first quarter worth $49,000. 91.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Ciena

In other news, Director Bruce Claflin sold 2,857 shares of Ciena stock in a transaction on Thursday, September 24th. The shares were sold at an average price of $355.91, for a total transaction of $1,016,834.87. Following the completion of the sale, the director directly owned 8,279 shares of the company’s stock, valued at approximately $2,946,578.89. The trade was a 25.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Gary Smith sold 2,952 shares of the company’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $330.18, for a total transaction of $974,691.36. Following the completion of the transaction, the chief executive officer owned 240,126 shares of the company’s stock, valued at $79,284,802.68. This trade represents a 1.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 36,014 shares of company stock worth $13,457,571. Company insiders own 0.58% of the company’s stock.

Ciena Stock Up 5.6%

CIEN stock opened at $361.11 on Thursday. The company has a current ratio of 3.80, a quick ratio of 3.17 and a debt-to-equity ratio of 1.06. The company’s 50 day moving average is $372.85 and its 200 day moving average is $439.35. The stock has a market cap of $51.21 billion, a price-to-earnings ratio of 80.60, a price-to-earnings-growth ratio of 4.75 and a beta of 1.28. Ciena Corporation has a 1-year low of $159.56 and a 1-year high of $637.51.

Ciena (NYSE:CIEN) last announced its earnings results on Thursday, September 3rd. The communications equipment provider reported $2.11 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.38. Ciena had a net margin of 10.87% and a return on equity of 25.33%. The business had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same period last year, the firm posted $0.35 earnings per share. Ciena’s quarterly revenue was up 37.0% on a year-over-year basis. Sell-side analysts predict that Ciena Corporation will post 6.00 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CIEN shares. Needham & Company LLC reiterated a “buy” rating and issued a $520.00 price target on shares of Ciena in a research report on Thursday, September 17th. Barclays boosted their price objective on Ciena from $475.00 to $548.00 and gave the company an “overweight” rating in a research note on Thursday, September 17th. CL King set a $347.00 price objective on Ciena in a report on Friday, September 4th. Evercore upgraded Ciena from an “in-line” rating to an “outperform” rating and set a $550.00 target price for the company in a research note on Monday, September 21st. Finally, JPMorgan Chase & Co. cut their target price on Ciena from $635.00 to $605.00 and set an “overweight” rating for the company in a research note on Friday, September 4th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $506.11.

Ciena Company Profile

Ciena Corporation (NYSE: CIEN) is a networking technology company that provides hardware, software, and services for communications networks. Its solutions help telecommunications carriers, cloud providers, enterprises, government organizations, and research institutions build, manage, and automate high-capacity networks.

The company’s portfolio includes optical networking systems, routing and switching platforms, network automation software, and network management tools. Ciena also offers consulting, implementation, maintenance, and professional services designed to support network planning, deployment, optimization, and ongoing operations.