Ciena Co. (NYSE:CIEN) Shares Purchased by US Bancorp DE

US Bancorp DE boosted its stake in Ciena Co. (NYSE:CIEN) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,459 shares of the communications equipment provider’s stock after acquiring an additional 152 shares during the period. US Bancorp DE’s holdings in Ciena were worth $887,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. QRG Capital Management Inc. acquired a new stake in shares of Ciena in the 3rd quarter valued at about $289,000. Atria Investments Inc purchased a new stake in Ciena in the third quarter valued at approximately $1,988,000. Proficio Capital Partners LLC boosted its holdings in shares of Ciena by 35.5% in the third quarter. Proficio Capital Partners LLC now owns 28,506 shares of the communications equipment provider’s stock valued at $1,756,000 after acquiring an additional 7,473 shares during the period. Chartwell Investment Partners LLC grew its position in shares of Ciena by 97.5% during the third quarter. Chartwell Investment Partners LLC now owns 46,584 shares of the communications equipment provider’s stock worth $2,869,000 after acquiring an additional 23,000 shares during the last quarter. Finally, North Growth Management Ltd. increased its holdings in shares of Ciena by 0.4% in the 3rd quarter. North Growth Management Ltd. now owns 531,000 shares of the communications equipment provider’s stock valued at $32,677,000 after acquiring an additional 2,000 shares during the period. Institutional investors and hedge funds own 91.99% of the company’s stock.

Wall Street Analyst Weigh In

CIEN has been the subject of a number of recent research reports. Stifel Nicolaus reiterated a “buy” rating and set a $82.00 price target (up previously from $75.00) on shares of Ciena in a research note on Tuesday, December 10th. Needham & Company LLC reiterated a “buy” rating and set a $95.00 target price on shares of Ciena in a research note on Friday, January 10th. Northland Securities raised their price target on Ciena from $46.00 to $60.00 and gave the stock a “market perform” rating in a report on Friday, December 13th. Barclays upped their price objective on Ciena from $67.00 to $97.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Finally, Citigroup upped their price objective on shares of Ciena from $84.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.62.

Insider Buying and Selling

In other news, SVP Brodie Gage sold 350 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $85.91, for a total transaction of $30,068.50. Following the completion of the transaction, the senior vice president now owns 49,547 shares of the company’s stock, valued at $4,256,582.77. This represents a 0.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Gary B. Smith sold 13,600 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $83.66, for a total transaction of $1,137,776.00. Following the completion of the sale, the chief executive officer now directly owns 425,749 shares in the company, valued at $35,618,161.34. This represents a 3.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 63,442 shares of company stock worth $5,337,764 in the last ninety days. Insiders own 0.93% of the company’s stock.

Ciena Trading Up 0.5 %

Shares of CIEN stock opened at $68.75 on Monday. The stock has a market cap of $9.80 billion, a P/E ratio of 120.62, a P/E/G ratio of 1.54 and a beta of 0.91. The company has a quick ratio of 2.72, a current ratio of 3.55 and a debt-to-equity ratio of 0.54. Ciena Co. has a fifty-two week low of $43.30 and a fifty-two week high of $101.44. The business has a fifty day simple moving average of $84.29 and a 200-day simple moving average of $73.14.

Ciena (NYSE:CIEN) last posted its earnings results 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 net margin of 2.09% and a return on equity of 4.72%. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter last year, the business posted $0.56 earnings per share. The business’s revenue was down .5% compared to the same quarter last year. On average, analysts forecast that Ciena Co. will post 1.6 earnings per share for the current fiscal year.

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.