Quantinno Capital Management LP Increases Stock Position in Ciena Corporation $CIEN

Quantinno Capital Management LP raised its stake in shares of Ciena Corporation (NYSE:CIEN) by 3.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 103,914 shares of the communications equipment provider’s stock after purchasing an additional 3,429 shares during the period. Quantinno Capital Management LP’s holdings in Ciena were worth $40,343,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in CIEN. SmartHarvest Portfolios LLC increased its holdings in shares of Ciena by 1.8% in the first quarter. SmartHarvest Portfolios LLC now owns 1,142 shares of the communications equipment provider’s stock worth $443,000 after purchasing an additional 20 shares during the last quarter. Modera Wealth Management LLC boosted its stake in Ciena by 1.8% during the first quarter. Modera Wealth Management LLC now owns 1,685 shares of the communications equipment provider’s stock valued at $654,000 after buying an additional 29 shares during the last quarter. Whittier Trust Co. boosted its stake in Ciena by 9.5% during the first quarter. Whittier Trust Co. now owns 358 shares of the communications equipment provider’s stock valued at $139,000 after buying an additional 31 shares during the last quarter. Parallel Advisors LLC grew its holdings in Ciena by 0.8% during the 4th quarter. Parallel Advisors LLC now owns 5,107 shares of the communications equipment provider’s stock valued at $1,194,000 after buying an additional 43 shares in the last quarter. Finally, Transamerica Financial Advisors LLC grew its holdings in Ciena by 71.0% during the 4th quarter. Transamerica Financial Advisors LLC now owns 106 shares of the communications equipment provider’s stock valued at $25,000 after buying an additional 44 shares in the last quarter. Hedge funds and other institutional investors own 91.99% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CIEN. JPMorgan Chase & Co. upped their price objective on Ciena from $380.00 to $550.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th. Citigroup raised their target price on shares of Ciena from $345.00 to $658.00 and gave the company a “buy” rating in a report on Monday, May 18th. TD Cowen boosted their price target on shares of Ciena from $425.00 to $675.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Stifel Nicolaus set a $615.00 price target on shares of Ciena in a research note on Friday, May 29th. Finally, Rosenblatt Securities increased their price objective on shares of Ciena from $350.00 to $720.00 and gave the company a “buy” rating in a research report on Friday, June 5th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Ciena currently has an average rating of “Moderate Buy” and an average target price of $530.56.

Insider Activity at Ciena

In other Ciena news, SVP Brodie Gage sold 1,200 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $466.10, for a total transaction of $559,320.00. Following the transaction, the senior vice president owned 42,741 shares in the company, valued at $19,921,580.10. The trade was a 2.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jason Phipps sold 2,629 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $466.20, for a total transaction of $1,225,639.80. Following the completion of the sale, the senior vice president directly owned 62,382 shares in the company, valued at approximately $29,082,488.40. This represents a 4.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 18,675 shares of company stock worth $9,387,576 in the last ninety days. Corporate insiders own 0.58% of the company’s stock.

Ciena Trading Up 12.4%

Shares of CIEN stock opened at $371.37 on Friday. Ciena Corporation has a 1 year low of $84.41 and a 1 year high of $637.51. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.73 and a quick ratio of 2.11. The stock’s 50 day simple moving average is $461.58 and its two-hundred day simple moving average is $413.77. The company has a market cap of $52.57 billion, a PE ratio of 123.79 and a beta of 1.27.

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

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.