Vanguard Personalized Indexing Management LLC Raises Position in Ciena Corporation $CIEN

Vanguard Personalized Indexing Management LLC grew its position in Ciena Corporation (NYSE:CIEN) by 17.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 19,669 shares of the communications equipment provider’s stock after buying an additional 2,920 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Ciena were worth $1,600,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CIEN. Bessemer Group Inc. raised its holdings in Ciena by 50.0% in the first quarter. Bessemer Group Inc. now owns 534 shares of the communications equipment provider’s stock worth $32,000 after buying an additional 178 shares during the last quarter. Bayforest Capital Ltd raised its holdings in shares of Ciena by 34.7% during the first quarter. Bayforest Capital Ltd now owns 636 shares of the communications equipment provider’s stock valued at $38,000 after purchasing an additional 164 shares during the last quarter. National Bank of Canada FI raised its holdings in shares of Ciena by 15.4% during the first quarter. National Bank of Canada FI now owns 1,147 shares of the communications equipment provider’s stock valued at $69,000 after purchasing an additional 153 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Ciena by 30.8% during the first quarter. Fifth Third Bancorp now owns 1,490 shares of the communications equipment provider’s stock valued at $90,000 after purchasing an additional 351 shares during the last quarter. Finally, Quarry LP raised its holdings in shares of Ciena by 65.6% during the first quarter. Quarry LP now owns 1,593 shares of the communications equipment provider’s stock valued at $96,000 after purchasing an additional 631 shares during the last quarter. 91.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CIEN. Zacks Research raised shares of Ciena from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 9th. BNP Paribas Exane raised shares of Ciena from a “neutral” rating to an “outperform” rating and set a $185.00 price objective for the company in a report on Monday, October 13th. Rosenblatt Securities raised shares of Ciena from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $127.50 to $175.00 in a report on Friday, September 26th. Weiss Ratings reissued a “hold (c)” rating on shares of Ciena in a report on Wednesday, October 8th. Finally, Argus boosted their price objective on shares of Ciena from $100.00 to $135.00 and gave the company a “buy” rating in a report on Friday, September 5th. Three analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $137.53.

Insider Buying and Selling at Ciena

In other Ciena news, SVP Joseph Cumello sold 1,863 shares of the company’s stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $141.14, for a total value of $262,943.82. Following the completion of the transaction, the senior vice president directly owned 43,531 shares in the company, valued at $6,143,965.34. This represents a 4.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Bruce L. Claflin sold 8,461 shares of the firm’s stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $140.12, for a total transaction of $1,185,555.32. Following the sale, the director owned 54,624 shares in the company, valued at $7,653,914.88. The trade was a 13.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,374 shares of company stock valued at $5,936,444. 0.93% of the stock is owned by corporate insiders.

Ciena Stock Performance

Shares of NYSE CIEN opened at $171.37 on Friday. The firm has a 50 day moving average of $125.66 and a 200 day moving average of $93.04. The company has a current ratio of 3.28, a quick ratio of 2.52 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $24.17 billion, a price-to-earnings ratio of 176.67, a price-to-earnings-growth ratio of 2.36 and a beta of 1.15. Ciena Corporation has a 12-month low of $49.21 and a 12-month high of $176.88.

Ciena (NYSE:CIEN) last announced its earnings results on Thursday, April 6th. The communications equipment provider reported $0.47 earnings per share (EPS) for the quarter. The company had revenue of $844.44 million during the quarter. Ciena had a net margin of 3.10% and a return on equity of 6.62%. On average, research analysts anticipate that Ciena Corporation will post 1.6 earnings per share for the current year.

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.