Ciena Co. (NYSE:CIEN) Stock Position Lifted by Jones Financial Companies Lllp

Jones Financial Companies Lllp grew its position in shares of Ciena Co. (NYSE:CIEN) by 643.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,192 shares of the communications equipment provider’s stock after buying an additional 1,897 shares during the period. Jones Financial Companies Lllp’s holdings in Ciena were worth $186,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. FMR LLC lifted its holdings in Ciena by 0.5% during the 3rd quarter. FMR LLC now owns 21,664,066 shares of the communications equipment provider’s stock worth $1,334,290,000 after buying an additional 108,407 shares during the last quarter. State Street Corp lifted its holdings in shares of Ciena by 1.2% in the 3rd quarter. State Street Corp now owns 4,439,478 shares of the communications equipment provider’s stock worth $273,427,000 after purchasing an additional 53,078 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Ciena by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,408,014 shares of the communications equipment provider’s stock worth $148,348,000 after purchasing an additional 33,074 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Ciena by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 955,516 shares of the communications equipment provider’s stock worth $58,850,000 after purchasing an additional 6,605 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in shares of Ciena in the 3rd quarter worth approximately $57,861,000. Institutional investors own 91.99% of the company’s stock.

Ciena Stock Up 2.5 %

Shares of CIEN stock opened at $63.84 on Friday. Ciena Co. has a 1 year low of $43.30 and a 1 year high of $101.44. The stock has a market cap of $9.10 billion, a PE ratio of 112.00, a price-to-earnings-growth ratio of 1.54 and a beta of 0.91. The business’s fifty day moving average is $82.30 and its 200-day moving average is $73.19. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.72 and a current ratio of 3.55.

Ciena (NYSE:CIEN) last issued its quarterly earnings results on Thursday, December 12th. The communications equipment provider reported $0.54 earnings per share (EPS) 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 firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter last year, the business posted $0.56 earnings per share. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. Equities analysts expect that Ciena Co. will post 1.6 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CIEN has been the topic of several recent research reports. Rosenblatt Securities cut their price target on Ciena from $94.00 to $79.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Stifel Nicolaus reissued 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. JPMorgan Chase & Co. raised Ciena from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $84.00 to $88.00 in a report on Tuesday, January 28th. Bank of America raised Ciena from a “neutral” rating to a “buy” rating and raised their price target for the stock from $70.00 to $95.00 in a report on Friday, December 13th. Finally, Barclays set a $100.00 price target on Ciena and gave the stock an “overweight” rating in a report on Wednesday. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $81.38.

Insider Activity

In related news, SVP Brodie Gage sold 350 shares of Ciena stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $85.91, for a total value of $30,068.50. Following the transaction, the senior vice president now directly owns 49,547 shares in the company, valued at $4,256,582.77. The trade was a 0.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP David M. Rothenstein sold 3,500 shares of Ciena stock in a transaction on Monday, December 16th. The stock was sold at an average price of $89.09, for a total value of $311,815.00. Following the completion of the transaction, the senior vice president now owns 192,997 shares in the company, valued at $17,194,102.73. The trade was a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 63,442 shares of company stock worth $5,337,764. 0.93% of the stock is owned by company insiders.

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.