Ciena Co. (NYSE:CIEN) Position Increased by Hsbc Holdings PLC

Hsbc Holdings PLC increased its stake in Ciena Co. (NYSE:CIEN) by 959.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,780 shares of the communications equipment provider’s stock after purchasing an additional 70,436 shares during the quarter. Hsbc Holdings PLC owned approximately 0.05% of Ciena worth $3,767,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC grew its stake in Ciena by 1,171.4% in the second quarter. SG Americas Securities LLC now owns 44,854 shares of the communications equipment provider’s stock valued at $2,161,000 after purchasing an additional 41,326 shares in the last quarter. First Hawaiian Bank acquired a new stake in shares of Ciena in the second quarter worth about $661,000. Bank of New York Mellon Corp boosted its stake in shares of Ciena by 13.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,499,035 shares of the communications equipment provider’s stock worth $72,223,000 after acquiring an additional 181,358 shares in the last quarter. Capital Fund Management S.A. increased its holdings in shares of Ciena by 67.3% during the 4th quarter. Capital Fund Management S.A. now owns 225,172 shares of the communications equipment provider’s stock valued at $10,135,000 after acquiring an additional 90,610 shares during the last quarter. Finally, Deepwater Asset Management LLC bought a new position in shares of Ciena in the 1st quarter valued at approximately $1,587,000. 91.99% of the stock is owned by hedge funds and other institutional investors.

Ciena Stock Down 1.9 %

Shares of CIEN stock opened at $60.53 on Wednesday. The stock has a market cap of $8.70 billion, a P/E ratio of 58.20, a price-to-earnings-growth ratio of 6.86 and a beta of 0.94. Ciena Co. has a one year low of $39.94 and a one year high of $63.24. The stock has a fifty day moving average price of $53.09 and a 200 day moving average price of $49.79. The company has a debt-to-equity ratio of 0.53, a current ratio of 4.06 and a quick ratio of 2.99.

Ciena (NYSE:CIEN) last issued its earnings results on Wednesday, September 4th. The communications equipment provider reported $0.35 EPS for the quarter, topping the consensus estimate of $0.26 by $0.09. The firm had revenue of $942.30 million during the quarter, compared to analysts’ expectations of $928.31 million. Ciena had a return on equity of 5.98% and a net margin of 3.44%. Ciena’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same period last year, the business earned $0.36 earnings per share. Analysts predict that Ciena Co. will post 1.15 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Jason Phipps sold 2,712 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $48.29, for a total value of $130,962.48. Following the completion of the transaction, the senior vice president now directly owns 96,000 shares of the company’s stock, valued at $4,635,840. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Ciena news, SVP Jason Phipps sold 2,712 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $48.29, for a total transaction of $130,962.48. Following the completion of the transaction, the senior vice president now directly owns 96,000 shares in the company, valued at $4,635,840. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP David M. Rothenstein sold 3,500 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $48.81, for a total value of $170,835.00. Following the transaction, the senior vice president now owns 212,421 shares of the company’s stock, valued at $10,368,269.01. The disclosure for this sale can be found here. Insiders sold a total of 9,712 shares of company stock valued at $498,637 over the last ninety days. 0.83% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on CIEN. Bank of America reaffirmed a “neutral” rating and set a $59.00 target price on shares of Ciena in a research report on Thursday, September 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $65.00 target price on shares of Ciena in a research report on Thursday, September 5th. Stifel Nicolaus upped their target price on Ciena from $62.00 to $68.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Barclays upped 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. Finally, JPMorgan Chase & Co. decreased their target price on Ciena from $67.00 to $60.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Ciena presently has a consensus rating of “Moderate Buy” and an average price target of $61.00.

About Ciena

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.