LHM Inc. Increases Stock Holdings in Ciena Co. (NYSE:CIEN)

LHM Inc. lifted its stake in shares of Ciena Co. (NYSE:CIEN) by 64.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 83,725 shares of the communications equipment provider’s stock after buying an additional 32,668 shares during the quarter. Ciena accounts for approximately 1.7% of LHM Inc.’s holdings, making the stock its 11th largest holding. LHM Inc. owned about 0.06% of Ciena worth $4,034,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Kapitalo Investimentos Ltda acquired a new stake in Ciena during the 4th quarter valued at approximately $30,000. Register Financial Advisors LLC acquired a new stake in Ciena during the 1st quarter valued at approximately $33,000. Headlands Technologies LLC acquired a new stake in Ciena during the 1st quarter valued at approximately $40,000. Canton Hathaway LLC acquired a new stake in Ciena during the 2nd quarter valued at approximately $40,000. Finally, Covestor Ltd grew its stake in Ciena by 339.5% during the 1st quarter. Covestor Ltd now owns 1,213 shares of the communications equipment provider’s stock valued at $60,000 after purchasing an additional 937 shares in the last quarter. 91.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ciena

In other Ciena news, SVP David M. Rothenstein sold 3,500 shares of Ciena stock in a transaction on Monday, July 15th. The stock was sold at an average price of $48.81, for a total transaction of $170,835.00. Following the sale, the senior vice president now owns 212,421 shares of the company’s stock, valued at approximately $10,368,269.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.83% of the stock is owned by company insiders.

Ciena Trading Down 0.3 %

NYSE:CIEN opened at $61.60 on Tuesday. Ciena Co. has a 12-month low of $39.94 and a 12-month high of $63.24. The firm has a market capitalization of $8.85 billion, a P/E ratio of 59.23, a P/E/G ratio of 7.93 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. The business has a 50 day simple moving average of $54.04 and a 200 day simple moving average of $50.09.

Ciena (NYSE:CIEN) last announced its 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 for the quarter, compared to the consensus estimate of $928.31 million. Ciena had a return on equity of 5.98% and a net margin of 3.44%. The firm’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.36 EPS. Equities research analysts predict that Ciena Co. will post 1.15 EPS for the current year.

Analyst Upgrades and Downgrades

CIEN has been the subject of a number of recent analyst reports. Stifel Nicolaus raised their price objective on Ciena from $62.00 to $68.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. B. Riley lowered their price objective on Ciena from $68.00 to $66.00 and set a “buy” rating for the company in a research note on Friday, June 7th. Barclays lifted their target price on Ciena from $55.00 to $67.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. Needham & Company LLC reiterated a “buy” rating and issued a $65.00 target price on shares of Ciena in a research report on Thursday, September 5th. Finally, Northland Securities reiterated a “market perform” rating and issued a $46.00 target price on shares of Ciena in a research report on Tuesday, September 3rd. 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 MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $61.00.

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.