Intrust Bank NA Sells 361 Shares of Ciena Co. (NYSE:CIEN)

Intrust Bank NA reduced its stake in shares of Ciena Co. (NYSE:CIEN) by 4.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,053 shares of the communications equipment provider’s stock after selling 361 shares during the quarter. Intrust Bank NA’s holdings in Ciena were worth $362,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Stanley Laman Group Ltd. grew its stake in shares of Ciena by 3.3% during the fourth 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. grew its stake in shares of Ciena by 7.6% during the fourth quarter. Watershed Asset Management L.L.C. now owns 5,929 shares of the communications equipment provider’s stock valued at $267,000 after buying an additional 418 shares during the last quarter. LHM Inc. bought a new position in shares of Ciena during the fourth quarter valued at about $767,000. John G Ullman & Associates Inc. grew its stake in shares of Ciena by 1.4% during the fourth quarter. John G Ullman & Associates Inc. now owns 14,600 shares of the communications equipment provider’s stock valued at $657,000 after buying an additional 200 shares during the last quarter. Finally, Calamos Advisors LLC grew its stake in shares of Ciena by 7.9% in the fourth quarter. Calamos Advisors LLC now owns 11,400 shares of the communications equipment provider’s stock worth $513,000 after purchasing an additional 839 shares during the last quarter. 91.99% of the stock is owned by institutional investors.

Insider Buying and Selling at Ciena

In other Ciena news, CEO Gary B. Smith sold 8,332 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $56.86, for a total transaction of $473,757.52. Following the sale, the chief executive officer now directly owns 415,674 shares in the company, valued at approximately $23,635,223.64. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Gary B. Smith sold 8,332 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $56.86, for a total transaction of $473,757.52. Following the transaction, the chief executive officer now directly owns 415,674 shares of the company’s stock, valued at approximately $23,635,223.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Gary B. Smith sold 4,166 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $44.80, for a total value of $186,636.80. Following the transaction, the chief executive officer now directly owns 385,109 shares in the company, valued at $17,252,883.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,351 shares of company stock worth $1,921,835. Insiders own 0.83% of the company’s stock.

Ciena Stock Performance

Ciena stock opened at $46.62 on Thursday. The company has a quick ratio of 3.12, a current ratio of 4.29 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $6.74 billion, a P/E ratio of 30.27, a PEG ratio of 2.14 and a beta of 0.99. The stock’s 50 day moving average is $50.33 and its 200 day moving average is $48.28. Ciena Co. has a twelve month low of $39.94 and a twelve month high of $63.24.

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

Analysts Set New Price Targets

Several analysts recently issued reports on CIEN shares. JPMorgan Chase & Co. raised their target price on Ciena from $56.00 to $67.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. Citigroup started coverage on Ciena in a research note on Friday, April 12th. They issued a “sell” rating and a $44.00 target price on the stock. Needham & Company LLC raised their target price on Ciena from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. StockNews.com raised Ciena from a “sell” rating to a “hold” rating in a research note on Friday, March 8th. Finally, BNP Paribas initiated coverage on Ciena in a research note on Thursday, April 11th. They issued an “outperform” rating and a $57.00 target price on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $58.79.

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.