18,858 Shares of Ciena Corporation $CIEN Purchased by Calamos Wealth Management LLC

Calamos Wealth Management LLC purchased a new position in shares of Ciena Corporation (NYSE:CIEN) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 18,858 shares of the communications equipment provider’s stock, valued at approximately $6,635,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CIEN. Markowski Investments acquired a new position in Ciena in the second quarter worth approximately $28,000. Carolina Wealth Advisors LLC lifted its position in shares of Ciena by 57.8% during the 2nd quarter. Carolina Wealth Advisors LLC now owns 71 shares of the communications equipment provider’s stock worth $35,000 after purchasing an additional 26 shares during the last quarter. Asset Dedication LLC boosted its position in shares of Ciena by 2,100.0% in the first quarter. Asset Dedication LLC now owns 88 shares of the communications equipment provider’s stock valued at $34,000 after acquiring an additional 84 shares during the period. Western Wealth Management LLC bought a new stake in Ciena in the 1st quarter valued at $49,000. Finally, Nvwm LLC acquired a new stake in Ciena in the 3rd quarter worth $45,000. Hedge funds and other institutional investors own 91.99% of the company’s stock.

Insider Activity

In other news, Director Bruce Claflin sold 2,857 shares of the company’s stock in a transaction that occurred on Thursday, September 24th. The stock was sold at an average price of $355.91, for a total value of $1,016,834.87. Following the sale, the director directly owned 8,279 shares in the company, valued at approximately $2,946,578.89. This represents a 25.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Jason Phipps sold 2,629 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $355.19, for a total value of $933,794.51. Following the completion of the sale, the executive vice president owned 57,388 shares in the company, valued at approximately $20,383,643.72. This represents a 4.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 36,014 shares of company stock valued at $13,216,540. 0.58% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CIEN shares. CL King set a $347.00 price objective on shares of Ciena in a research report on Friday, September 4th. Rothschild & Co Redburn decreased their target price on Ciena from $538.43 to $406.81 and set a “neutral” rating on the stock in a research report on Monday, September 14th. Northland Securities set a $550.00 price target on Ciena and gave the company an “outperform” rating in a research note on Thursday, September 17th. Weiss Ratings cut Ciena from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 25th. Finally, Zacks Research upgraded Ciena from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 9th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $485.93.

Ciena Stock Performance

Ciena stock traded up $12.12 on Friday, hitting $242.93. The company’s stock had a trading volume of 4,717,091 shares, compared to its average volume of 3,292,244. Ciena Corporation has a one year low of $168.22 and a one year high of $637.51. The firm has a market cap of $34.45 billion, a P/E ratio of 54.23, a price-to-earnings-growth ratio of 2.28 and a beta of 1.33. The company has a quick ratio of 3.17, a current ratio of 3.80 and a debt-to-equity ratio of 1.06. The company has a fifty day moving average price of $350.63 and a 200-day moving average price of $402.53.

Ciena (NYSE:CIEN) last released its quarterly earnings data on Thursday, September 3rd. The communications equipment provider reported $2.11 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.38. The company had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.64 billion. Ciena had a net margin of 10.87% and a return on equity of 25.33%. The firm’s revenue for the quarter was up 37.0% compared to the same quarter last year. During the same period last year, the firm earned $0.35 EPS. On average, equities analysts anticipate that Ciena Corporation will post 6.00 earnings per share for the current year.

About Ciena

Ciena is a communications networking company that develops equipment, software and services used to build and manage telecommunications networks. Its offerings support the movement of data across fiber-optic, subsea and other network infrastructure.

The company’s products include optical transport systems, routing and switching equipment, and software for network automation and management. Ciena also provides consulting, implementation and support services to help customers plan, deploy and operate their networks.

Founded in 1992 and headquartered in Hanover, Maryland, Ciena serves communications service providers, governments, enterprises and other organizations around the world.