Ciena Co. (NYSE:CIEN) Stake Lifted by Amundi

Amundi increased its stake in Ciena Co. (NYSE:CIEN) by 19.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,049 shares of the communications equipment provider’s stock after acquiring an additional 1,294 shares during the period. Amundi’s holdings in Ciena were worth $662,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC boosted its holdings in Ciena by 0.5% during the third 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 in the last quarter. State Street Corp boosted its holdings in Ciena by 1.2% during the third quarter. State Street Corp now owns 4,439,478 shares of the communications equipment provider’s stock worth $273,427,000 after buying an additional 53,078 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Ciena by 1.4% during the third quarter. Geode Capital Management LLC now owns 2,408,014 shares of the communications equipment provider’s stock worth $148,348,000 after buying an additional 33,074 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Ciena by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 959,831 shares of the communications equipment provider’s stock worth $81,403,000 after buying an additional 4,315 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in Ciena during the third quarter worth approximately $57,861,000. 91.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, SVP Brodie Gage sold 350 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $90.16, for a total value of $31,556.00. Following the completion of the sale, the senior vice president now directly owns 49,197 shares in the company, valued at approximately $4,435,601.52. The trade was a 0.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Jason Phipps sold 5,648 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $84.64, for a total value of $478,046.72. Following the completion of the sale, the senior vice president now owns 109,878 shares of the company’s stock, valued at approximately $9,300,073.92. This trade represents a 4.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,742 shares of company stock worth $5,469,173. Insiders own 0.93% of the company’s stock.

Ciena Trading Up 2.4 %

NYSE:CIEN opened at $65.84 on Thursday. The stock’s 50 day moving average price is $81.24 and its 200 day moving average price is $73.48. Ciena Co. has a 52 week low of $43.30 and a 52 week high of $101.44. The company has a market capitalization of $9.36 billion, a P/E ratio of 115.52, a P/E/G ratio of 1.54 and a beta of 0.91. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.72 and a current ratio of 3.55.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CIEN. Barclays set a $100.00 target price on shares of Ciena and gave the stock an “overweight” rating in a report on Wednesday, March 12th. Citigroup boosted their price target on shares of Ciena from $84.00 to $98.00 and gave the company a “buy” rating in a report on Friday, December 13th. Stifel Nicolaus restated a “buy” rating and set a $82.00 price target (up previously from $75.00) on shares of Ciena in a report on Tuesday, December 10th. JPMorgan Chase & Co. upgraded shares of Ciena from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $84.00 to $88.00 in a report on Tuesday, January 28th. Finally, Needham & Company LLC cut their price target on shares of Ciena from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Ciena presently has an average rating of “Moderate Buy” and an average target price of $81.38.

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.