By otakuyassine3@gmail.com 
US Bancorp DE increased its stake in Ciena Co. (NYSE:CIEN – Free Report) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,459 shares of the communications equipment provider’s stock after buying an additional 152 shares during the quarter. US Bancorp DE’s holdings in Ciena were worth $887,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of CIEN. Versant Capital Management Inc grew its position in Ciena by 925.0% in the fourth quarter. Versant Capital Management Inc now owns 328 shares of the communications equipment provider’s stock valued at $28,000 after acquiring an additional 296 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of Ciena by 409.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 520 shares of the communications equipment provider’s stock valued at $44,000 after purchasing an additional 418 shares during the period. First Horizon Advisors Inc. grew its holdings in Ciena by 152.8% during the 3rd quarter. First Horizon Advisors Inc. now owns 847 shares of the communications equipment provider’s stock valued at $52,000 after purchasing an additional 512 shares in the last quarter. Kieckhefer Group LLC purchased a new stake in Ciena during the 4th quarter worth $59,000. Finally, UMB Bank n.a. lifted its holdings in Ciena by 59.2% in the 4th quarter. UMB Bank n.a. now owns 718 shares of the communications equipment provider’s stock worth $61,000 after buying an additional 267 shares in the last quarter. 91.99% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Ciena
In related news, SVP Brodie Gage sold 350 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $85.91, for a total value of $30,068.50. Following the completion of the sale, the senior vice president now owns 49,547 shares of the company’s stock, valued at approximately $4,256,582.77. The trade was a 0.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Bruce L. Claflin sold 16,912 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $84.96, for a total transaction of $1,436,843.52. Following the transaction, the director now directly owns 59,347 shares in the company, valued at approximately $5,042,121.12. The trade was a 22.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 63,442 shares of company stock valued at $5,337,764 in the last three months. 0.93% of the stock is currently owned by corporate insiders.
Ciena Stock Up 0.5 %
Ciena stock opened at $68.75 on Monday. Ciena Co. has a 52 week low of $43.30 and a 52 week high of $101.44. The stock has a market cap of $9.80 billion, a price-to-earnings ratio of 120.62, a PEG ratio of 1.54 and a beta of 0.91. The company’s 50-day moving average price is $84.29 and its two-hundred day moving average price is $73.14. The company has a current ratio of 3.55, a quick ratio of 2.72 and a debt-to-equity ratio of 0.54.
Ciena (NYSE:CIEN – Get Free Report) last announced its quarterly earnings data on Thursday, December 12th. The communications equipment provider reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.12). The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.10 billion. Ciena had a net margin of 2.09% and a return on equity of 4.72%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the company earned $0.56 EPS. On average, analysts expect that Ciena Co. will post 1.6 EPS for the current fiscal year.
Analyst Ratings Changes
A number of analysts have recently issued reports on CIEN shares. Northland Securities lifted their target price on Ciena from $46.00 to $60.00 and gave the stock a “market perform” rating in a research report on Friday, December 13th. Stifel Nicolaus restated a “buy” rating and set a $82.00 price objective (up from $75.00) on shares of Ciena in a report on Tuesday, December 10th. Bank of America upgraded Ciena from a “neutral” rating to a “buy” rating and increased their target price for the company from $70.00 to $95.00 in a research note on Friday, December 13th. Needham & Company LLC restated a “buy” rating and issued a $95.00 price target on shares of Ciena in a research note on Friday, January 10th. Finally, JPMorgan Chase & Co. raised shares of Ciena from a “neutral” rating to an “overweight” rating and upped their price target for the company from $84.00 to $88.00 in a report on Tuesday, January 28th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $77.62.
Check Out Our Latest Analysis on Ciena
Ciena Company Profile
Ciena Corporation provides hardware and software services for delivery of video, data, and voice traffic metro, aggregation, and access communications network worldwide. The company’s Networking Platforms segment offers convergence of coherent optical transport, open optical networking, optical transport network switching, IP routing, and switching services.
See Also
Want to see what other hedge funds are holding CIEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ciena Co. (NYSE:CIEN – Free Report).
Receive News & Ratings for Ciena Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Ciena and related companies with MarketBeat.com’s FREE daily email newsletter.