Ciena Co. (NYSE:CIEN) Shares Bought by QS Investors LLC

QS Investors LLC lifted its position in Ciena Co. (NYSE:CIEN) by 9.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 49,731 shares of the communications equipment provider’s stock after buying an additional 4,199 shares during the period. QS Investors LLC’s holdings in Ciena were worth $2,830,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of CIEN. Spring Creek Capital LLC raised its position in shares of Ciena by 64.1% during the first quarter. Spring Creek Capital LLC now owns 7,634,591 shares of the communications equipment provider’s stock worth $417,765,000 after purchasing an additional 2,982,200 shares during the period. FMR LLC raised its position in Ciena by 28.7% during the second quarter. FMR LLC now owns 6,360,829 shares of the communications equipment provider’s stock valued at $361,867,000 after buying an additional 1,418,204 shares during the period. UBS Asset Management Americas Inc. raised its position in Ciena by 20.3% during the first quarter. UBS Asset Management Americas Inc. now owns 3,369,672 shares of the communications equipment provider’s stock valued at $184,388,000 after buying an additional 567,568 shares during the period. Alliancebernstein L.P. raised its position in Ciena by 28.1% during the second quarter. Alliancebernstein L.P. now owns 3,276,838 shares of the communications equipment provider’s stock valued at $186,419,000 after buying an additional 719,196 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Ciena by 43.5% during the second quarter. Bank of New York Mellon Corp now owns 2,652,756 shares of the communications equipment provider’s stock valued at $150,918,000 after buying an additional 804,544 shares during the period. 90.49% of the stock is currently owned by institutional investors.

CIEN has been the topic of several recent analyst reports. Colliers Securities reissued a “buy” rating and set a $70.00 price target on shares of Ciena in a research report on Friday, September 3rd. Barclays dropped their price target on Ciena from $68.00 to $66.00 and set an “overweight” rating on the stock in a research report on Friday, September 3rd. Finally, B. Riley lowered their target price on Ciena from $53.00 to $51.00 and set a “neutral” rating on the stock in a research note on Friday, September 3rd. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $61.27.

CIEN opened at $52.03 on Thursday. The company has a market cap of $8.06 billion, a PE ratio of 17.64, a price-to-earnings-growth ratio of 1.35 and a beta of 0.83. The stock has a 50-day moving average of $54.40 and a 200-day moving average of $55.15. Ciena Co. has a 52-week low of $38.03 and a 52-week high of $61.09. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.16 and a current ratio of 3.61.

Ciena (NYSE:CIEN) last announced its earnings results on Wednesday, September 1st. The communications equipment provider reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.13. Ciena had a return on equity of 13.32% and a net margin of 13.55%. The firm had revenue of $988.10 million during the quarter, compared to the consensus estimate of $969.41 million. During the same quarter in the prior year, the company earned $1.06 EPS. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. On average, research analysts predict that Ciena Co. will post 2.5 earnings per share for the current year.

In other news, CFO James E. Moylan, Jr. sold 2,000 shares of the stock in a transaction that occurred on Thursday, September 30th. The stock was sold at an average price of $51.60, for a total value of $103,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jason Phipps sold 3,069 shares of the stock in a transaction that occurred on Tuesday, September 21st. The stock was sold at an average price of $51.91, for a total value of $159,311.79. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,669 shares of company stock valued at $2,797,489. Insiders own 0.96% of the company’s stock.

Ciena Profile

Ciena Corp. engages in the provision of network and communication infrastructure. It operates through the following segments: Networking Platforms, Platform Software and Services, Blue Planet Automation Software and Services, and Global Services. The Networking Platforms segment consists of Converged Packet Optical and Packet Networking portfolios.

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Institutional Ownership by Quarter for Ciena (NYSE:CIEN)

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