10,330 Shares in Ciena Corporation $CIEN Purchased by Donoghue Forlines LLC

Donoghue Forlines LLC purchased a new position in shares of Ciena Corporation (NYSE:CIEN) during the fourth quarter, Holdings Channel reports. The firm purchased 10,330 shares of the communications equipment provider’s stock, valued at approximately $2,416,000. Ciena comprises about 0.7% of Donoghue Forlines LLC’s holdings, making the stock its 25th largest holding.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CIEN. Lone Pine Capital LLC acquired a new position in Ciena during the third quarter worth about $292,310,000. Atreides Management LP acquired a new position in Ciena during the second quarter worth about $102,705,000. JPMorgan Chase & Co. boosted its position in Ciena by 23.3% during the third quarter. JPMorgan Chase & Co. now owns 6,462,840 shares of the communications equipment provider’s stock worth $941,451,000 after acquiring an additional 1,219,787 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Ciena by 2,174.2% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,143,855 shares of the communications equipment provider’s stock worth $166,625,000 after acquiring an additional 1,093,557 shares during the last quarter. Finally, Balyasny Asset Management L.P. boosted its position in Ciena by 3,577.9% during the second quarter. Balyasny Asset Management L.P. now owns 1,032,393 shares of the communications equipment provider’s stock worth $83,965,000 after acquiring an additional 1,004,323 shares during the last quarter. 91.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CIEN. Stifel Nicolaus boosted their price target on shares of Ciena from $430.00 to $585.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. JPMorgan Chase & Co. boosted their price target on shares of Ciena from $380.00 to $550.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. Raymond James Financial restated an “outperform” rating and set a $320.00 price target on shares of Ciena in a research report on Thursday, March 5th. Weiss Ratings upgraded shares of Ciena from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, April 27th. Finally, Zacks Research upgraded shares of Ciena from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 13th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $367.56.

Insider Activity

In other news, SVP Jason Phipps sold 22,014 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $409.80, for a total value of $9,021,337.20. Following the sale, the senior vice president directly owned 68 shares of the company’s stock, valued at approximately $27,866.40. The trade was a 99.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gary B. Smith sold 2,952 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $537.74, for a total transaction of $1,587,408.48. Following the completion of the sale, the chief executive officer directly owned 275,461 shares in the company, valued at $148,126,398.14. This trade represents a 1.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 42,974 shares of company stock valued at $17,418,863. Company insiders own 0.58% of the company’s stock.

Ciena Stock Performance

NYSE:CIEN opened at $590.44 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.81 and a quick ratio of 2.14. The firm has a market capitalization of $83.49 billion, a price-to-earnings ratio of 376.08, a PEG ratio of 1.89 and a beta of 1.24. The company’s 50-day moving average is $450.05 and its two-hundred day moving average is $313.46. Ciena Corporation has a 1-year low of $70.77 and a 1-year high of $598.84.

Ciena (NYSE:CIEN) last released its quarterly earnings results on Thursday, March 5th. The communications equipment provider reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.18. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.40 billion. Ciena had a net margin of 4.47% and a return on equity of 12.09%. The business’s revenue was up 33.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 EPS. Analysts forecast that Ciena Corporation will post 5.12 EPS for the current year.

Ciena Profile

Ciena Corporation (NYSE: CIEN) is a global supplier of telecommunications networking equipment, software and services. The company develops high-capacity optical transport systems and packet-optical platforms that enable service providers, cloud operators and large enterprises to build, manage and scale their networks. Ciena’s product portfolio includes coherent optical solutions, packet networking platforms and a suite of network automation software designed to optimize bandwidth, reduce latency and simplify network operations.

In addition to hardware offerings, Ciena provides professional services and support, including network design, implementation and ongoing maintenance.