Integrated Advisors Network LLC Acquires New Holdings in Ciena Corporation $CIEN

Integrated Advisors Network LLC bought a new stake in Ciena Corporation (NYSE:CIEN) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,790 shares of the communications equipment provider’s stock, valued at approximately $982,000.

Several other large investors have also modified their holdings of CIEN. Markowski Investments purchased a new position in shares of Ciena in the 2nd quarter valued at $28,000. Asset Dedication LLC lifted its position in Ciena by 2,100.0% in the first quarter. Asset Dedication LLC now owns 88 shares of the communications equipment provider’s stock valued at $34,000 after acquiring an additional 84 shares during the last quarter. Carolina Wealth Advisors LLC lifted its position in Ciena by 57.8% in the second quarter. Carolina Wealth Advisors LLC now owns 71 shares of the communications equipment provider’s stock valued at $35,000 after acquiring an additional 26 shares during the last quarter. Bogart Wealth LLC lifted its position in Ciena by 635.7% in the first quarter. Bogart Wealth LLC now owns 103 shares of the communications equipment provider’s stock valued at $40,000 after acquiring an additional 89 shares during the last quarter. Finally, Nvwm LLC purchased a new stake in Ciena in the third quarter valued at $45,000. Institutional investors and hedge funds own 91.99% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on CIEN. UBS Group decreased their price objective on shares of Ciena from $508.00 to $394.00 and set a “neutral” rating for the company in a research note on Friday, September 4th. Barclays lifted their target price on Ciena from $475.00 to $548.00 and gave the stock an “overweight” rating in a research report on Thursday, September 17th. Sanford C. Bernstein began coverage on Ciena in a report on Wednesday, September 30th. They issued an “outperform” rating and a $440.00 target price for the company. Wall Street Zen cut Ciena from a “buy” rating to a “hold” rating in a research report on Saturday, October 17th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $525.00 target price on shares of Ciena in a research report on Thursday, September 17th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $506.11.

Ciena Trading Down 10.7%

Shares of Ciena stock opened at $322.68 on Friday. The firm has a market cap of $45.76 billion, a price-to-earnings ratio of 72.03, a price-to-earnings-growth ratio of 5.02 and a beta of 1.28. Ciena Corporation has a 52-week low of $164.13 and a 52-week high of $637.51. The company’s 50-day simple moving average is $370.43 and its 200-day simple moving average is $438.46. The company has a quick ratio of 3.17, a current ratio of 3.80 and a debt-to-equity ratio of 1.06.

Ciena (NYSE:CIEN) last announced its quarterly earnings data on Thursday, September 3rd. The communications equipment provider reported $2.11 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.38. The firm had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.64 billion. Ciena had a net margin of 10.87% and a return on equity of 25.33%. The firm’s revenue was up 37.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.35 earnings per share. As a group, equities research analysts anticipate that Ciena Corporation will post 6.00 earnings per share for the current year.

Insider Activity at Ciena

In other news, Director Thomas Nevens sold 3,738 shares of the stock in a transaction that occurred on Wednesday, September 23rd. The stock was sold at an average price of $359.04, for a total transaction of $1,342,091.52. Following the completion of the transaction, the director directly owned 6,289 shares of the company’s stock, valued at approximately $2,258,002.56. This represents a 37.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Gary B. Smith sold 2,952 shares of the stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $330.18, for a total value of $974,691.36. Following the transaction, the chief executive officer directly owned 240,126 shares of the company’s stock, valued at approximately $79,284,802.68. This trade represents a 1.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 36,014 shares of company stock worth $13,457,571 in the last three months. 0.58% of the stock is currently owned by corporate insiders.

Ciena Company Profile

Ciena Corporation (NYSE: CIEN) is a networking technology company that provides hardware, software, and services for communications networks. Its solutions help telecommunications carriers, cloud providers, enterprises, government organizations, and research institutions build, manage, and automate high-capacity networks.

The company’s portfolio includes optical networking systems, routing and switching platforms, network automation software, and network management tools. Ciena also offers consulting, implementation, maintenance, and professional services designed to support network planning, deployment, optimization, and ongoing operations.