Voya Investment Management LLC Has $10.09 Million Holdings in Ciena Corporation $CIEN

Voya Investment Management LLC trimmed its position in shares of Ciena Corporation (NYSE:CIEN) by 16.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 69,264 shares of the communications equipment provider’s stock after selling 13,628 shares during the quarter. Voya Investment Management LLC’s holdings in Ciena were worth $10,090,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. GAMMA Investing LLC grew its stake in shares of Ciena by 2.3% during the 3rd quarter. GAMMA Investing LLC now owns 4,071 shares of the communications equipment provider’s stock worth $593,000 after acquiring an additional 92 shares during the period. Wedmont Private Capital lifted its holdings in shares of Ciena by 4.5% during the 3rd quarter. Wedmont Private Capital now owns 2,981 shares of the communications equipment provider’s stock worth $452,000 after acquiring an additional 129 shares during the last quarter. Coldstream Capital Management Inc. boosted its holdings in shares of Ciena by 2.9% in the 2nd quarter. Coldstream Capital Management Inc. now owns 4,693 shares of the communications equipment provider’s stock worth $382,000 after purchasing an additional 132 shares in the last quarter. Bayforest Capital Ltd grew its position in Ciena by 34.7% during the first quarter. Bayforest Capital Ltd now owns 636 shares of the communications equipment provider’s stock valued at $38,000 after acquiring an additional 164 shares during the last quarter. Finally, Rafferty Asset Management LLC lifted its stake in Ciena by 2.3% in the second quarter. Rafferty Asset Management LLC now owns 8,353 shares of the communications equipment provider’s stock worth $679,000 after purchasing an additional 185 shares during the last quarter. 91.99% of the stock is owned by institutional investors.

Ciena Stock Performance

Ciena stock opened at $239.99 on Wednesday. The company’s 50-day moving average price is $197.08 and its 200-day moving average price is $136.13. The company has a quick ratio of 2.09, a current ratio of 2.73 and a debt-to-equity ratio of 0.56. The company has a market cap of $33.80 billion, a PE ratio of 282.34, a price-to-earnings-growth ratio of 1.38 and a beta of 1.17. Ciena Corporation has a twelve month low of $49.21 and a twelve month high of $248.00.

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

Analyst Upgrades and Downgrades

CIEN has been the subject of a number of recent analyst reports. Evercore ISI set a $240.00 price target on Ciena in a research report on Thursday, December 11th. Stifel Nicolaus set a $270.00 target price on shares of Ciena in a report on Thursday, December 11th. Weiss Ratings restated a “hold (c)” rating on shares of Ciena in a research note on Wednesday, October 8th. Rosenblatt Securities boosted their price target on Ciena from $175.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Finally, Argus raised their target price on shares of Ciena from $135.00 to $280.00 and gave the stock a “buy” rating in a report on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $237.50.

Insider Activity

In related news, SVP Jason Phipps sold 1,984 shares of Ciena stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $143.42, for a total transaction of $284,545.28. Following the completion of the sale, the senior vice president owned 80,244 shares in the company, valued at $11,508,594.48. This trade represents a 2.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Joseph Cumello sold 1,863 shares of the stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $141.14, for a total value of $262,943.82. Following the completion of the transaction, the senior vice president directly owned 43,531 shares in the company, valued at approximately $6,143,965.34. This trade represents a 4.10% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 47,412 shares of company stock valued at $8,877,100. 0.93% of the stock is currently owned by corporate insiders.

Ciena Company 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.