Sei Investments Co. raised its stake in shares of Ciena Corporation (NYSE:CIEN) by 26.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 406,905 shares of the communications equipment provider’s stock after buying an additional 84,207 shares during the period. Sei Investments Co.’s holdings in Ciena Corporation were worth $10,181,000 as of its most recent filing with the SEC.
Other large investors have also bought and sold shares of the company. Thompson Davis & CO. Inc. acquired a new stake in Ciena Corporation during the first quarter valued at approximately $106,000. Glen Harbor Capital Management LLC raised its stake in Ciena Corporation by 12.1% in the first quarter. Glen Harbor Capital Management LLC now owns 5,280 shares of the communications equipment provider’s stock valued at $125,000 after buying an additional 572 shares in the last quarter. Elkfork Partners LLC raised its stake in Ciena Corporation by 12.1% in the first quarter. Elkfork Partners LLC now owns 6,720 shares of the communications equipment provider’s stock valued at $159,000 after buying an additional 728 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in Ciena Corporation during the second quarter valued at approximately $159,000. Finally, Advisors Capital Management LLC acquired a new stake in Ciena Corporation during the first quarter valued at approximately $183,000.
Shares of Ciena Corporation (CIEN) opened at 23.99 on Friday. The stock has a market capitalization of $3.40 billion, a P/E ratio of 31.69 and a beta of 1.61. The stock has a 50 day moving average of $25.63 and a 200 day moving average of $24.51. Ciena Corporation has a 12-month low of $18.94 and a 12-month high of $27.98.
Ciena Corporation (NYSE:CIEN) last announced its earnings results on Thursday, June 1st. The communications equipment provider reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. The business had revenue of $707.02 million for the quarter, compared to analyst estimates of $694.84 million. Ciena Corporation had a net margin of 4.13% and a return on equity of 25.56%. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period last year, the firm posted $0.34 earnings per share. Equities research analysts anticipate that Ciena Corporation will post $1.77 EPS for the current fiscal year.
Several equities research analysts have recently commented on CIEN shares. TheStreet upgraded shares of Ciena Corporation from a “c+” rating to a “b” rating in a report on Monday, June 19th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $32.50 price objective (up previously from $29.00) on shares of Ciena Corporation in a research report on Friday, June 2nd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $32.00 price objective (up previously from $28.00) on shares of Ciena Corporation in a research report on Friday, June 2nd. Argus lifted their price objective on shares of Ciena Corporation from $27.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, June 2nd. Finally, Needham & Company LLC lifted their price objective on shares of Ciena Corporation from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Ciena Corporation presently has an average rating of “Buy” and a consensus price target of $30.19.
In other news, SVP Stephen B. Alexander sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $25.02, for a total transaction of $62,550.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP James E. Moylan, Jr. sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $22.75, for a total transaction of $45,500.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 68,689 shares of company stock worth $1,753,805. Insiders own 1.45% of the company’s stock.
Ciena Corporation Company Profile
Ciena Corporation is a network strategy and technology company, which provides solutions that enable a range of network operators to adopt communication architectures and deliver an array of services, relied upon by enterprise and consumer end users. It provides equipment, software and services that support the transport, switching, aggregation, service delivery and management of voice, video and data traffic on communications networks.
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