Ciena Co. (NYSE:CIEN) Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. grew its holdings in Ciena Co. (NYSE:CIEN) by 9.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,998 shares of the communications equipment provider’s stock after buying an additional 1,489 shares during the period. Federated Hermes Inc.’s holdings in Ciena were worth $810,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Hsbc Holdings PLC increased its position in Ciena by 87.0% during the third quarter. Hsbc Holdings PLC now owns 50,597 shares of the communications equipment provider’s stock worth $2,407,000 after purchasing an additional 23,544 shares during the last quarter. DigitalBridge Group Inc. increased its position in Ciena by 34.4% during the third quarter. DigitalBridge Group Inc. now owns 352,727 shares of the communications equipment provider’s stock worth $16,670,000 after purchasing an additional 90,206 shares during the last quarter. HighTower Advisors LLC increased its position in Ciena by 2.2% during the third quarter. HighTower Advisors LLC now owns 17,585 shares of the communications equipment provider’s stock worth $833,000 after purchasing an additional 376 shares during the last quarter. Sowell Financial Services LLC acquired a new stake in Ciena during the third quarter worth about $483,000. Finally, Atreides Management LP acquired a new stake in Ciena during the third quarter worth about $77,883,000. 91.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CIEN shares. Evercore ISI raised their price objective on shares of Ciena from $57.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Needham & Company LLC raised their price objective on shares of Ciena from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. BNP Paribas began coverage on shares of Ciena in a research report on Thursday, April 11th. They set an “outperform” rating and a $57.00 price target for the company. JPMorgan Chase & Co. lifted their price target on shares of Ciena from $56.00 to $67.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. Finally, StockNews.com upgraded shares of Ciena from a “sell” rating to a “hold” rating in a research report on Friday, March 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $58.79.

Ciena Trading Up 0.8 %

NYSE CIEN opened at $46.62 on Thursday. The firm has a 50 day simple moving average of $50.33 and a 200-day simple moving average of $48.28. The company has a debt-to-equity ratio of 0.53, a quick ratio of 3.12 and a current ratio of 4.29. Ciena Co. has a one year low of $39.94 and a one year high of $63.24. The firm has a market cap of $6.74 billion, a price-to-earnings ratio of 30.27, a PEG ratio of 2.14 and a beta of 0.99.

Ciena (NYSE:CIEN) last posted its quarterly earnings data on Thursday, March 7th. The communications equipment provider reported $0.66 EPS for the quarter, beating the consensus estimate of $0.48 by $0.18. Ciena had a net margin of 5.22% and a return on equity of 9.92%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the firm posted $0.48 earnings per share. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. Equities research analysts anticipate that Ciena Co. will post 1.46 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Gary B. Smith sold 8,332 shares of Ciena stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $56.86, for a total value of $473,757.52. Following the completion of the transaction, the chief executive officer now owns 415,674 shares in the company, valued at $23,635,223.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Gary B. Smith sold 8,332 shares of Ciena stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $56.86, for a total value of $473,757.52. Following the completion of the transaction, the chief executive officer now owns 415,674 shares in the company, valued at $23,635,223.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Joseph Cumello sold 3,156 shares of Ciena stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $45.74, for a total transaction of $144,355.44. Following the completion of the transaction, the senior vice president now owns 51,171 shares of the company’s stock, valued at approximately $2,340,561.54. The disclosure for this sale can be found here. Insiders sold 36,351 shares of company stock worth $1,921,835 over the last 90 days. 0.83% of the stock is owned by 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.