Nissay Asset Management Corp Japan ADV Has $2.95 Million Stake in Ciena Co. (NYSE:CIEN)

Nissay Asset Management Corp Japan ADV increased its position in Ciena Co. (NYSE:CIEN) by 11.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 33,995 shares of the communications equipment provider’s stock after purchasing an additional 3,359 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Ciena were worth $2,946,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC boosted its stake in Ciena by 108.6% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 290 shares of the communications equipment provider’s stock worth $25,000 after purchasing an additional 151 shares during the period. Bessemer Group Inc. boosted its stake in Ciena by 73.7% in the 4th quarter. Bessemer Group Inc. now owns 356 shares of the communications equipment provider’s stock worth $30,000 after purchasing an additional 151 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Ciena by 328.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 364 shares of the communications equipment provider’s stock worth $30,000 after purchasing an additional 279 shares during the period. Atlas Capital Advisors Inc. boosted its stake in Ciena by 77.2% in the 4th quarter. Atlas Capital Advisors Inc. now owns 420 shares of the communications equipment provider’s stock worth $36,000 after purchasing an additional 183 shares during the period. Finally, Picton Mahoney Asset Management acquired a new position in Ciena in the 4th quarter worth approximately $41,000. Institutional investors and hedge funds own 91.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CIEN. Needham & Company LLC decreased their price objective on shares of Ciena from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Barclays set a $100.00 target price on shares of Ciena and gave the company an “overweight” rating in a research note on Wednesday, March 12th. Northland Capmk raised shares of Ciena from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 12th. Rosenblatt Securities decreased their target price on shares of Ciena from $73.00 to $65.00 and set a “neutral” rating for the company in a research note on Tuesday, April 22nd. Finally, B. Riley reissued a “buy” rating and set a $89.00 target price (down previously from $97.00) on shares of Ciena in a research note on Wednesday, March 12th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $77.62.

Insider Activity at Ciena

In related news, SVP Jason Phipps sold 18,888 shares of Ciena stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $59.88, for a total value of $1,131,013.44. Following the transaction, the senior vice president now owns 89,258 shares in the company, valued at $5,344,769.04. This trade represents a 17.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Brodie Gage sold 350 shares of Ciena stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $90.16, for a total transaction of $31,556.00. Following the completion of the transaction, the senior vice president now owns 49,197 shares in the company, valued at $4,435,601.52. This trade represents a 0.71% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,138 shares of company stock valued at $3,439,211. Insiders own 0.93% of the company’s stock.

Ciena Stock Up 1.8%

CIEN stock opened at $81.22 on Friday. The company has a current ratio of 3.55, a quick ratio of 2.72 and a debt-to-equity ratio of 0.54. Ciena Co. has a 1 year low of $44.69 and a 1 year high of $101.44. The company has a fifty day simple moving average of $65.40 and a 200 day simple moving average of $74.56. The firm has a market cap of $11.54 billion, a PE ratio of 142.49, a PEG ratio of 1.54 and a beta of 1.11.

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.