15,389 Shares in Ciena Co. (NYSE:CIEN) Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Ciena Co. (NYSE:CIEN) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,389 shares of the communications equipment provider’s stock, valued at approximately $1,308,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. UMB Bank n.a. grew its holdings in shares of Ciena by 424.4% in the 3rd quarter. UMB Bank n.a. now owns 451 shares of the communications equipment provider’s stock worth $28,000 after acquiring an additional 365 shares during the period. Versant Capital Management Inc boosted its position in Ciena by 925.0% during the fourth quarter. Versant Capital Management Inc now owns 328 shares of the communications equipment provider’s stock worth $28,000 after purchasing an additional 296 shares in the last quarter. First Horizon Advisors Inc. boosted its position in Ciena by 152.8% during the third quarter. First Horizon Advisors Inc. now owns 847 shares of the communications equipment provider’s stock worth $52,000 after purchasing an additional 512 shares in the last quarter. Kieckhefer Group LLC acquired a new stake in Ciena in the fourth quarter valued at $59,000. Finally, Blue Trust Inc. increased its position in shares of Ciena by 241.5% in the third quarter. Blue Trust Inc. now owns 1,424 shares of the communications equipment provider’s stock valued at $88,000 after buying an additional 1,007 shares in the last quarter. 91.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ciena

In other news, SVP Joseph Cumello sold 1,289 shares of Ciena stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $68.99, for a total value of $88,928.11. Following the transaction, the senior vice president now directly owns 39,486 shares of the company’s stock, valued at $2,724,139.14. The trade was a 3.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Bruce L. Claflin sold 16,912 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $84.96, for a total value of $1,436,843.52. Following the sale, the director now owns 59,347 shares of the company’s stock, valued at $5,042,121.12. The trade was a 22.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 57,581 shares of company stock worth $4,875,548 in the last quarter. 0.83% of the stock is owned by insiders.

Ciena Stock Performance

NYSE CIEN opened at $87.44 on Wednesday. The business’s 50-day moving average price is $84.78 and its 200 day moving average price is $69.26. 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 Co. has a twelve month low of $43.30 and a twelve month high of $101.44. The company has a market capitalization of $12.43 billion, a PE ratio of 153.40, a price-to-earnings-growth ratio of 1.66 and a beta of 0.88.

Ciena (NYSE:CIEN) 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). Ciena had a return on equity of 4.72% and a net margin of 2.09%. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the previous year, the company earned $0.56 earnings per share. The company’s revenue was down .5% on a year-over-year basis. On average, research analysts predict that Ciena Co. will post 1.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Bank of America upgraded shares of Ciena from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $70.00 to $95.00 in a research report on Friday, December 13th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $82.00 price target (up previously from $75.00) on shares of Ciena in a report on Tuesday, December 10th. Northland Securities raised their price objective on shares of Ciena from $46.00 to $60.00 and gave the stock a “market perform” rating in a research note on Friday, December 13th. Evercore ISI lowered Ciena from an “outperform” rating to an “in-line” rating and set a $65.00 target price on the stock. in a research note on Tuesday, October 15th. Finally, Rosenblatt Securities increased their target price on Ciena from $75.00 to $94.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Ciena presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.77.

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.