Masters Capital Management LLC Lowers Position in Ciena Co. (NYSE:CIEN)

Masters Capital Management LLC decreased its stake in shares of Ciena Co. (NYSE:CIEN) by 33.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 400,000 shares of the communications equipment provider’s stock after selling 200,000 shares during the quarter. Ciena comprises about 1.1% of Masters Capital Management LLC’s portfolio, making the stock its 29th largest holding. Masters Capital Management LLC owned approximately 0.28% of Ciena worth $19,272,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of CIEN. Riverwater Partners LLC raised its holdings in shares of Ciena by 0.9% during the 1st quarter. Riverwater Partners LLC now owns 26,281 shares of the communications equipment provider’s stock worth $1,300,000 after acquiring an additional 237 shares in the last quarter. Panagora Asset Management Inc. increased its position in Ciena by 4.6% in the second quarter. Panagora Asset Management Inc. now owns 5,404 shares of the communications equipment provider’s stock worth $260,000 after purchasing an additional 239 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in Ciena by 17.4% during the second quarter. Harbor Capital Advisors Inc. now owns 3,465 shares of the communications equipment provider’s stock valued at $167,000 after purchasing an additional 514 shares in the last quarter. Lumbard & Kellner LLC raised its stake in Ciena by 0.9% during the second quarter. Lumbard & Kellner LLC now owns 65,799 shares of the communications equipment provider’s stock valued at $3,170,000 after purchasing an additional 612 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Ciena by 2.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,862 shares of the communications equipment provider’s stock valued at $1,487,000 after purchasing an additional 632 shares during the last quarter. 91.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CIEN has been the topic of several recent research reports. Stifel Nicolaus upped their target price on shares of Ciena from $62.00 to $68.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Barclays upped their price objective on Ciena from $55.00 to $67.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. Morgan Stanley lifted their target price on Ciena from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, September 4th. Needham & Company LLC reissued a “buy” rating and set a $65.00 target price on shares of Ciena in a research report on Thursday, September 5th. Finally, Rosenblatt Securities lifted their price objective on shares of Ciena from $54.00 to $60.00 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $61.00.

Insider Transactions at Ciena

In other Ciena news, SVP David M. Rothenstein sold 3,500 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $56.24, for a total transaction of $196,840.00. Following the transaction, the senior vice president now directly owns 205,421 shares in the company, valued at approximately $11,552,877.04. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, SVP Jason Phipps sold 2,712 shares of the business’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 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 SEC, which is available at this hyperlink. Also, SVP David M. Rothenstein sold 3,500 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $56.24, for a total value of $196,840.00. Following the sale, the senior vice president now directly owns 205,421 shares in the company, valued at approximately $11,552,877.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,712 shares of company stock valued at $498,637. 0.83% of the stock is currently owned by corporate insiders.

Ciena Trading Up 5.0 %

Shares of CIEN opened at $61.68 on Tuesday. The firm has a market capitalization of $8.86 billion, a price-to-earnings ratio of 59.30, a PEG ratio of 6.86 and a beta of 0.94. 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 company has a 50-day moving average of $52.91 and a 200 day moving average of $49.74.

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

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.