Morgan Stanley grew its position in Ciena Co. (NYSE:CIEN) by 59.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,305,965 shares of the communications equipment provider’s stock after acquiring an additional 489,275 shares during the period. Morgan Stanley owned about 0.83% of Ciena worth $40,799,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Commonwealth Equity Services LLC boosted its holdings in shares of Ciena by 8.2% during the 3rd quarter. Commonwealth Equity Services LLC now owns 21,569 shares of the communications equipment provider’s stock worth $673,000 after buying an additional 1,631 shares during the period. US Bancorp DE boosted its holdings in shares of Ciena by 19.3% during the 3rd quarter. US Bancorp DE now owns 13,562 shares of the communications equipment provider’s stock worth $424,000 after buying an additional 2,197 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its holdings in shares of Ciena by 23.4% during the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 11,600 shares of the communications equipment provider’s stock worth $362,000 after buying an additional 2,200 shares during the period. GSA Capital Partners LLP boosted its holdings in shares of Ciena by 10.3% during the 3rd quarter. GSA Capital Partners LLP now owns 27,101 shares of the communications equipment provider’s stock worth $847,000 after buying an additional 2,530 shares during the period. Finally, MetLife Investment Advisors LLC boosted its holdings in shares of Ciena by 1.7% during the 2nd quarter. MetLife Investment Advisors LLC now owns 155,448 shares of the communications equipment provider’s stock worth $4,121,000 after buying an additional 2,614 shares during the period. 96.94% of the stock is owned by institutional investors.
Several brokerages recently commented on CIEN. Zacks Investment Research reaffirmed a “hold” rating on shares of Ciena in a report on Monday, November 12th. Northland Securities set a $32.00 target price on shares of Ciena and gave the stock a “buy” rating in a report on Thursday, December 20th. BMO Capital Markets lifted their target price on shares of Ciena from $36.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, December 14th. TheStreet cut shares of Ciena from a “b” rating to a “c+” rating in a research note on Friday, December 14th. Finally, UBS Group set a $36.00 price objective on shares of Ciena and gave the stock a “hold” rating in a research note on Friday, December 14th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $35.39.
Shares of NYSE:CIEN opened at $36.67 on Friday. The company has a market capitalization of $5.72 billion, a PE ratio of 32.74, a PEG ratio of 1.63 and a beta of 0.98. The company has a quick ratio of 1.95, a current ratio of 2.22 and a debt-to-equity ratio of 0.36. Ciena Co. has a 12 month low of $20.71 and a 12 month high of $37.18.
Ciena (NYSE:CIEN) last issued its earnings results on Thursday, December 13th. The communications equipment provider reported $0.53 EPS for the quarter, beating the consensus estimate of $0.48 by $0.05. The company had revenue of $889.40 million during the quarter, compared to analysts’ expectations of $862.54 million. Ciena had a negative net margin of 11.14% and a positive return on equity of 9.31%. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.46 EPS. As a group, research analysts expect that Ciena Co. will post 1.44 EPS for the current year.
In related news, VP David M. Rothenstein sold 2,000 shares of Ciena stock in a transaction that occurred on Monday, October 15th. The shares were sold at an average price of $29.15, for a total transaction of $58,300.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Stephen B. Alexander sold 2,500 shares of Ciena stock in a transaction that occurred on Monday, October 15th. The shares were sold at an average price of $29.16, for a total transaction of $72,900.00. The disclosure for this sale can be found here. Insiders sold a total of 73,150 shares of company stock valued at $2,352,382 over the last 90 days. Corporate insiders own 1.38% of the company’s stock.
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Ciena Company Profile
Ciena Corporation provides hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of voice, video, and data traffic on communications networks worldwide. The company's Networking Platforms segment offers hardware networking solutions optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching.
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