Ethic Inc. Raises Position in Ciena Corporation $CIEN

Ethic Inc. boosted its stake in Ciena Corporation (NYSE:CIEN) by 49.4% during the first quarter, HoldingsChannel reports. The institutional investor owned 12,809 shares of the communications equipment provider’s stock after buying an additional 4,238 shares during the quarter. Ethic Inc.’s holdings in Ciena were worth $788,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its stake in Ciena by 195.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,626,153 shares of the communications equipment provider’s stock valued at $392,345,000 after buying an additional 3,062,883 shares in the last quarter. Bank of America Corp DE lifted its stake in Ciena by 1.6% in the 4th quarter. Bank of America Corp DE now owns 3,227,020 shares of the communications equipment provider’s stock valued at $273,684,000 after buying an additional 49,996 shares in the last quarter. Polar Capital Holdings Plc lifted its stake in Ciena by 113.7% in the 4th quarter. Polar Capital Holdings Plc now owns 2,169,406 shares of the communications equipment provider’s stock valued at $183,987,000 after buying an additional 1,154,260 shares in the last quarter. Northern Trust Corp lifted its stake in Ciena by 26.2% in the 4th quarter. Northern Trust Corp now owns 1,238,284 shares of the communications equipment provider’s stock valued at $105,019,000 after buying an additional 257,197 shares in the last quarter. Finally, Nuveen LLC purchased a new position in Ciena in the 1st quarter valued at about $70,065,000. 91.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on CIEN. Evercore ISI reiterated a “mixed” rating on shares of Ciena in a report on Friday, June 6th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price objective on shares of Ciena in a report on Friday, June 6th. Northland Securities set a $100.00 price objective on shares of Ciena in a report on Monday, June 30th. Wolfe Research upgraded shares of Ciena to a “strong-buy” rating in a report on Tuesday, July 8th. Finally, B. Riley reiterated a “buy” rating and issued a $90.00 price objective (up previously from $89.00) on shares of Ciena in a report on Friday, June 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $85.54.

Ciena Stock Down 2.5%

Shares of NYSE CIEN opened at $86.5670 on Thursday. The firm has a market cap of $12.24 billion, a price-to-earnings ratio of 120.23, a PEG ratio of 1.99 and a beta of 1.11. The company has a quick ratio of 2.57, a current ratio of 3.40 and a debt-to-equity ratio of 0.55. Ciena Corporation has a 52-week low of $49.21 and a 52-week high of $101.44. The business’s 50 day moving average is $84.43 and its two-hundred day moving average is $76.75.

Ciena (NYSE:CIEN) last announced its earnings results on Thursday, June 5th. The communications equipment provider reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.08). The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Ciena had a net margin of 2.46% and a return on equity of 5.08%. The firm’s revenue for the quarter was up 23.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.27 EPS. Ciena has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Research analysts predict that Ciena Corporation will post 1.6 EPS for the current year.

Insider Transactions at Ciena

In other Ciena news, SVP Joseph Cumello sold 2,044 shares of the business’s stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $81.64, for a total value of $166,872.16. Following the sale, the senior vice president owned 47,198 shares of the company’s stock, valued at $3,853,244.72. The trade was a 4.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Brodie Gage sold 350 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $90.94, for a total value of $31,829.00. Following the completion of the sale, the senior vice president directly owned 43,268 shares in the company, valued at approximately $3,934,791.92. The trade was a 0.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,969 shares of company stock worth $2,694,781 in the last ninety days. 0.93% of the stock is owned by company insiders.

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.