6,059 Shares in Ciena Corporation $CIEN Acquired by Lombard Odier Asset Management Switzerland SA

Lombard Odier Asset Management Switzerland SA acquired a new stake in Ciena Corporation (NYSE:CIEN) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 6,059 shares of the communications equipment provider’s stock, valued at approximately $2,352,000.

A number of other institutional investors also recently modified their holdings of the stock. Bogart Wealth LLC raised its position in Ciena by 635.7% in the 1st quarter. Bogart Wealth LLC now owns 103 shares of the communications equipment provider’s stock worth $40,000 after purchasing an additional 89 shares during the last quarter. Transamerica Financial Advisors LLC lifted its holdings in Ciena by 71.0% during the 4th quarter. Transamerica Financial Advisors LLC now owns 106 shares of the communications equipment provider’s stock worth $25,000 after buying an additional 44 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in Ciena by 85.5% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 141 shares of the communications equipment provider’s stock valued at $55,000 after buying an additional 65 shares during the last quarter. Truvestments Capital LLC boosted its position in Ciena by 45.3% in the 4th quarter. Truvestments Capital LLC now owns 154 shares of the communications equipment provider’s stock valued at $36,000 after buying an additional 48 shares during the last quarter. Finally, Ascentis Independent Advisors acquired a new stake in shares of Ciena in the 1st quarter valued at $65,000. 91.99% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, SVP Brodie Gage sold 1,200 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $570.65, for a total value of $684,780.00. Following the completion of the transaction, the senior vice president directly owned 43,941 shares in the company, valued at approximately $25,074,931.65. This represents a 2.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Joseph Cumello sold 1,586 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $466.33, for a total value of $739,599.38. Following the completion of the transaction, the senior vice president directly owned 42,872 shares of the company’s stock, valued at $19,992,499.76. This represents a 3.57% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 21,627 shares of company stock worth $10,974,985. 0.58% of the stock is owned by company insiders.

Ciena Price Performance

Shares of CIEN opened at $389.93 on Monday. The company has a market cap of $55.19 billion, a price-to-earnings ratio of 129.98 and a beta of 1.27. Ciena Corporation has a 1-year low of $84.41 and a 1-year high of $637.51. The company’s fifty day simple moving average is $477.15 and its 200 day simple moving average is $410.54. The company has a current ratio of 2.73, a quick ratio of 2.11 and a debt-to-equity ratio of 0.53.

Ciena (NYSE:CIEN) last released its quarterly earnings data on Thursday, June 4th. The communications equipment provider reported $1.64 EPS for the quarter, beating the consensus estimate of $1.46 by $0.18. The firm 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 company’s quarterly revenue was up 39.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.42 earnings per share. On average, research analysts forecast that Ciena Corporation will post 5.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently weighed in on CIEN. Zacks Research upgraded shares of Ciena from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 2nd. Raymond James Financial lifted their target price on shares of Ciena from $320.00 to $530.00 and gave the stock an “outperform” rating in a report on Thursday, June 4th. Morgan Stanley upped their target price on shares of Ciena from $405.00 to $490.00 and gave the company an “equal weight” rating in a research report on Friday, June 5th. Stifel Nicolaus set a $615.00 price target on Ciena in a research note on Friday, May 29th. Finally, Needham & Company LLC restated a “buy” rating and issued a $600.00 price target on shares of Ciena in a research report on Tuesday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, Ciena has an average rating of “Moderate Buy” and an average 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.