Lmcg Investments LLC Sells 7,465 Shares of Ciena Corporation $CIEN

Lmcg Investments LLC lessened its holdings in shares of Ciena Corporation (NYSE:CIEN) by 4.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 146,634 shares of the communications equipment provider’s stock after selling 7,465 shares during the quarter. Lmcg Investments LLC owned approximately 0.10% of Ciena worth $11,926,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Ciena by 375.4% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,235,696 shares of the communications equipment provider’s stock valued at $100,499,000 after acquiring an additional 975,792 shares in the last quarter. Inspire Investing LLC raised its holdings in Ciena by 516.6% in the first quarter. Inspire Investing LLC now owns 18,719 shares of the communications equipment provider’s stock worth $1,131,000 after purchasing an additional 15,683 shares in the last quarter. Amundi raised its holdings in Ciena by 322.8% in the first quarter. Amundi now owns 34,035 shares of the communications equipment provider’s stock worth $1,912,000 after purchasing an additional 25,986 shares in the last quarter. Connective Portfolio Management LLC bought a new position in Ciena in the second quarter worth $651,000. Finally, Oliver Lagore Vanvalin Investment Group bought a new position in Ciena in the second quarter worth $180,000. Institutional investors own 91.99% of the company’s stock.

Ciena Price Performance

Shares of NYSE:CIEN opened at $156.04 on Friday. Ciena Corporation has a 1-year low of $49.21 and a 1-year high of $165.24. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.28 and a quick ratio of 2.52. The business has a fifty day moving average price of $118.21 and a 200-day moving average price of $89.39. The company has a market capitalization of $22.01 billion, a PE ratio of 160.87, a PEG ratio of 2.26 and a beta of 1.15.

Ciena (NYSE:CIEN) last issued its quarterly earnings results on Thursday, April 6th. The communications equipment provider reported $0.47 earnings per share for the quarter. Ciena had a return on equity of 6.62% and a net margin of 3.10%.The firm had revenue of $844.44 million during the quarter. As a group, equities analysts expect that Ciena Corporation will post 1.6 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Joseph Cumello sold 1,863 shares of the stock in a transaction on Friday, September 26th. The stock was sold at an average price of $141.14, for a total transaction of $262,943.82. Following the sale, the senior vice president directly owned 43,531 shares of the company’s stock, valued at $6,143,965.34. This trade represents a 4.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Brodie Gage sold 350 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $132.00, for a total value of $46,200.00. Following the sale, the senior vice president directly owned 42,918 shares in the company, valued at $5,665,176. This trade represents a 0.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,724 shares of company stock valued at $5,336,431. 0.93% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on CIEN shares. Argus increased their price objective on Ciena from $100.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, September 5th. Barclays increased their price objective on Ciena from $102.00 to $138.00 and gave the stock an “overweight” rating in a report on Friday, September 5th. UBS Group increased their price objective on Ciena from $78.00 to $120.00 and gave the stock a “neutral” rating in a report on Friday, September 5th. Evercore ISI increased their price objective on Ciena from $95.00 to $120.00 and gave the stock an “in-line” rating in a report on Thursday, September 4th. Finally, Needham & Company LLC increased their price objective on Ciena from $90.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, September 5th. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $130.23.

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.