Ciena Co. (NYSE:CIEN) Shares Bought by Barrow Hanley Mewhinney & Strauss LLC

Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in Ciena Co. (NYSE:CIEN) by 0.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,236,920 shares of the communications equipment provider’s stock after purchasing an additional 17,447 shares during the quarter. Ciena accounts for approximately 1.5% of Barrow Hanley Mewhinney & Strauss LLC’s holdings, making the stock its 21st largest position. Barrow Hanley Mewhinney & Strauss LLC owned approximately 3.68% of Ciena worth $444,143,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Versant Capital Management Inc raised its holdings in Ciena by 925.0% during the fourth quarter. Versant Capital Management Inc now owns 328 shares of the communications equipment provider’s stock worth $28,000 after purchasing an additional 296 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Ciena by 328.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 364 shares of the communications equipment provider’s stock valued at $30,000 after purchasing an additional 279 shares during the period. Picton Mahoney Asset Management bought a new stake in shares of Ciena in the 4th quarter worth $41,000. Parkside Financial Bank & Trust lifted its holdings in shares of Ciena by 409.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 520 shares of the communications equipment provider’s stock valued at $44,000 after buying an additional 418 shares during the period. Finally, Kieckhefer Group LLC bought a new position in Ciena during the fourth quarter valued at about $59,000. 91.99% of the stock is owned by institutional investors and hedge funds.

Ciena Stock Down 2.2 %

CIEN stock opened at $61.50 on Friday. The company has a 50 day moving average of $78.74 and a two-hundred day moving average of $74.07. The company has a market cap of $8.74 billion, a price-to-earnings ratio of 107.90, a PEG ratio of 1.54 and a beta of 0.91. Ciena Co. has a 12-month low of $43.30 and a 12-month high of $101.44. The company has a quick ratio of 2.72, a current ratio of 3.55 and a debt-to-equity ratio of 0.54.

Insider Activity

In other Ciena news, SVP Brodie Gage sold 350 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $85.91, for a total transaction of $30,068.50. Following the transaction, the senior vice president now directly owns 49,547 shares of the company’s stock, valued at $4,256,582.77. This represents a 0.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Bruce L. Claflin sold 16,912 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $84.96, for a total value of $1,436,843.52. Following the completion of the sale, the director now directly owns 59,347 shares of the company’s stock, valued at $5,042,121.12. This represents a 22.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,560 shares of company stock worth $5,406,323 in the last three months. 0.93% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on CIEN. Rosenblatt Securities cut their price target on shares of Ciena from $94.00 to $79.00 and set a “neutral” rating for the company in a report on Friday, March 7th. JPMorgan Chase & Co. raised shares of Ciena from a “neutral” rating to an “overweight” rating and increased their target price for the company from $84.00 to $88.00 in a research note on Tuesday, January 28th. Northland Capmk upgraded shares of Ciena from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 12th. Citigroup increased their price objective on Ciena from $84.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, Needham & Company LLC decreased their target price on Ciena from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Ciena currently has an average rating of “Moderate Buy” and a consensus target price of $81.38.

Ciena 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.