Barrow Hanley Mewhinney & Strauss LLC Raises Stock Holdings in Ciena Co. (NYSE:CIEN)

Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Ciena Co. (NYSE:CIEN) by 119.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,397,560 shares of the communications equipment provider’s stock after purchasing an additional 2,943,146 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC owned 3.76% of Ciena worth $260,054,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Ciena by 1,944.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,062,394 shares of the communications equipment provider’s stock worth $101,986,000 after purchasing an additional 1,961,513 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Ciena by 7,767.2% during the 2nd quarter. Pacer Advisors Inc. now owns 1,966,414 shares of the communications equipment provider’s stock valued at $94,742,000 after buying an additional 1,941,419 shares during the last quarter. Norges Bank acquired a new position in shares of Ciena in the 4th quarter valued at about $73,476,000. Swedbank AB purchased a new stake in shares of Ciena in the first quarter worth about $48,214,000. Finally, Rokos Capital Management LLP boosted its stake in shares of Ciena by 118.7% in the first quarter. Rokos Capital Management LLP now owns 1,524,332 shares of the communications equipment provider’s stock worth $75,378,000 after buying an additional 827,352 shares during the last quarter. Hedge funds and other institutional investors own 91.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CIEN. JPMorgan Chase & Co. decreased their price target on Ciena from $67.00 to $60.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. Stifel Nicolaus boosted their target price on shares of Ciena from $62.00 to $68.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Raymond James lowered shares of Ciena from a “strong-buy” rating to an “outperform” rating and dropped their price target for the company from $59.00 to $54.00 in a research report on Thursday, June 6th. Northland Securities reiterated a “market perform” rating and issued a $46.00 price objective on shares of Ciena in a research report on Tuesday, September 3rd. Finally, Barclays raised their target price on Ciena from $55.00 to $67.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $59.15.

Ciena Stock Performance

Shares of NYSE:CIEN opened at $58.73 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 4.06 and a quick ratio of 2.99. Ciena Co. has a 1 year low of $39.94 and a 1 year high of $63.24. The firm has a market capitalization of $8.44 billion, a PE ratio of 56.47, a P/E/G ratio of 6.86 and a beta of 0.94. The business’s 50 day moving average price is $52.66 and its 200-day moving average price is $49.77.

Ciena (NYSE:CIEN) last announced its earnings results on Wednesday, September 4th. The communications equipment provider reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.09. The company had revenue of $942.30 million for the quarter, compared to analysts’ expectations of $928.31 million. Ciena had a net margin of 3.44% and a return on equity of 5.98%. The firm’s quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.36 EPS. As a group, equities research analysts expect that Ciena Co. will post 1.15 earnings per share for the current fiscal year.

Insider Activity at Ciena

In other Ciena news, SVP Jason Phipps sold 2,712 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $48.29, for a total value of $130,962.48. Following the transaction, the senior vice president now directly owns 96,000 shares of the company’s stock, valued at approximately $4,635,840. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Ciena news, SVP Jason Phipps sold 2,712 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $48.29, for a total value of $130,962.48. Following the completion of the sale, the senior vice president now directly owns 96,000 shares of the company’s stock, valued at approximately $4,635,840. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP David M. Rothenstein sold 3,500 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $48.81, for a total transaction of $170,835.00. Following the transaction, the senior vice president now directly owns 212,421 shares in the company, valued at approximately $10,368,269.01. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,712 shares of company stock valued at $498,637. Corporate insiders own 0.83% of the company’s stock.

Ciena 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.