1,440 Shares in Ciena Corporation $CIEN Acquired by Tiemann Investment Advisors LLC

Tiemann Investment Advisors LLC purchased a new stake in shares of Ciena Corporation (NYSE:CIEN) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,440 shares of the communications equipment provider’s stock, valued at approximately $337,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Circle Wealth Management LLC grew its holdings in Ciena by 9.5% during the fourth quarter. Circle Wealth Management LLC now owns 13,467 shares of the communications equipment provider’s stock worth $3,150,000 after acquiring an additional 1,167 shares during the period. Quadrant Capital Group LLC grew its holdings in Ciena by 1.3% during the fourth quarter. Quadrant Capital Group LLC now owns 14,383 shares of the communications equipment provider’s stock worth $3,364,000 after acquiring an additional 186 shares during the period. Laurel Oak Wealth Management LLC acquired a new stake in Ciena during the fourth quarter worth about $422,000. Hollencrest Capital Management acquired a new stake in Ciena during the fourth quarter worth about $767,000. Finally, Federation des caisses Desjardins du Quebec grew its holdings in Ciena by 6.0% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 11,223 shares of the communications equipment provider’s stock worth $2,623,000 after acquiring an additional 635 shares during the period. Institutional investors and hedge funds own 91.99% of the company’s stock.

Insider Activity at Ciena

In other Ciena news, SVP Brodie Gage sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of $405.00, for a total transaction of $2,025,000.00. Following the completion of the transaction, the senior vice president owned 46,341 shares in the company, valued at $18,768,105. The trade was a 9.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Gary B. Smith sold 2,952 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $415.51, for a total transaction of $1,226,585.52. Following the transaction, the chief executive officer owned 281,365 shares of the company’s stock, valued at $116,909,971.15. This trade represents a 1.04% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 44,174 shares of company stock worth $19,502,359. Corporate insiders own 0.58% of the company’s stock.

Ciena Price Performance

Shares of CIEN stock opened at $445.32 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.73 and a quick ratio of 2.11. The firm’s 50-day moving average is $521.49 and its two-hundred day moving average is $363.71. Ciena Corporation has a 12 month low of $71.72 and a 12 month high of $637.51. The company has a market capitalization of $63.04 billion, a PE ratio of 148.44 and a beta of 1.24.

Ciena (NYSE:CIEN) last released its quarterly earnings results on Thursday, June 4th. The communications equipment provider reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.18. The business had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.50 billion. Ciena had a net margin of 7.87% and a return on equity of 18.15%. The business’s revenue was up 39.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.42 EPS. Analysts predict that Ciena Corporation will post 5.41 earnings per share for the current year.

Analyst Ratings Changes

CIEN has been the topic of several analyst reports. Wolfe Research restated an “outperform” rating and set a $375.00 price target on shares of Ciena in a research report on Thursday, March 5th. Argus set a $650.00 price target on shares of Ciena in a research report on Friday, June 5th. Stifel Nicolaus set a $615.00 price objective on shares of Ciena in a report on Friday, May 29th. Citigroup increased their price objective on shares of Ciena from $345.00 to $658.00 and gave the company a “buy” rating in a report on Monday, May 18th. Finally, Rothschild & Co Redburn began coverage on shares of Ciena in a report on Friday, May 1st. They set a “neutral” rating and a $416.00 price objective on the stock. Thirteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $530.56.

About Ciena

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.