O Neil Global Advisors Inc. Invests $1.54 Million in Ciena Corporation $CIEN

O Neil Global Advisors Inc. acquired a new stake in shares of Ciena Corporation (NYSE:CIEN) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 10,565 shares of the communications equipment provider’s stock, valued at approximately $1,539,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CIEN. Assetmark Inc. raised its stake in Ciena by 50.4% in the third quarter. Assetmark Inc. now owns 200 shares of the communications equipment provider’s stock valued at $29,000 after buying an additional 67 shares during the last quarter. Global Retirement Partners LLC grew its stake in shares of Ciena by 11.1% during the third quarter. Global Retirement Partners LLC now owns 698 shares of the communications equipment provider’s stock worth $102,000 after acquiring an additional 70 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Ciena by 1.3% during the third quarter. Nisa Investment Advisors LLC now owns 6,475 shares of the communications equipment provider’s stock valued at $943,000 after acquiring an additional 80 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Ciena by 2.3% in the 3rd quarter. GAMMA Investing LLC now owns 4,071 shares of the communications equipment provider’s stock valued at $593,000 after purchasing an additional 92 shares during the last quarter. Finally, Clearstead Advisors LLC raised its position in shares of Ciena by 42.5% in the 3rd quarter. Clearstead Advisors LLC now owns 312 shares of the communications equipment provider’s stock valued at $45,000 after purchasing an additional 93 shares during the last quarter. 91.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Ciena news, CEO Gary B. Smith sold 83,552 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $229.44, for a total value of $19,170,170.88. Following the sale, the chief executive officer owned 307,885 shares in the company, valued at approximately $70,641,134.40. This represents a 21.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Thomas Michael Nevens sold 8,554 shares of Ciena stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $224.66, for a total transaction of $1,921,741.64. Following the transaction, the director directly owned 9,422 shares of the company’s stock, valued at approximately $2,116,746.52. This trade represents a 47.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 160,083 shares of company stock valued at $37,204,740 in the last three months. 0.58% of the stock is currently owned by company insiders.

Ciena Price Performance

NYSE:CIEN opened at $334.77 on Monday. The firm’s fifty day moving average is $253.11 and its two-hundred day moving average is $189.62. The firm has a market cap of $47.36 billion, a price-to-earnings ratio of 393.86, a PEG ratio of 1.88 and a beta of 1.13. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.09 and a current ratio of 2.73. Ciena Corporation has a one year low of $49.21 and a one year high of $340.27.

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

Wall Street Analyst Weigh In

CIEN has been the topic of several research analyst reports. B. Riley Financial reissued a “neutral” rating on shares of Ciena in a research report on Friday, December 12th. Argus boosted their price objective on shares of Ciena from $135.00 to $280.00 and gave the company a “buy” rating in a report on Friday, December 12th. Citigroup upped their target price on Ciena to $280.00 and gave the company a “buy” rating in a research report on Friday, December 12th. Needham & Company LLC lifted their price target on Ciena to $280.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Finally, Bank of America reissued a “neutral” rating and issued a $260.00 price objective on shares of Ciena in a report on Tuesday, January 20th. One 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. Based on data from MarketBeat.com, Ciena currently has an average rating of “Moderate Buy” and a consensus target price of $247.67.

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.