Campbell & CO Investment Adviser LLC Purchases 3,576 Shares of Ciena Corporation $CIEN

Campbell & CO Investment Adviser LLC boosted its holdings in shares of Ciena Corporation (NYSE:CIEN) by 22.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,179 shares of the communications equipment provider’s stock after buying an additional 3,576 shares during the period. Campbell & CO Investment Adviser LLC’s holdings in Ciena were worth $1,560,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. World Investment Advisors purchased a new stake in Ciena in the second quarter valued at approximately $253,000. Vaughan Nelson Investment Management L.P. grew its stake in Ciena by 375.4% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,235,696 shares of the communications equipment provider’s stock worth $100,499,000 after buying an additional 975,792 shares in the last quarter. Inspire Investing LLC increased its holdings in shares of Ciena by 516.6% in the 1st quarter. Inspire Investing LLC now owns 18,719 shares of the communications equipment provider’s stock worth $1,131,000 after buying an additional 15,683 shares during the last quarter. Amundi raised its position in shares of Ciena by 322.8% during the 1st quarter. Amundi now owns 34,035 shares of the communications equipment provider’s stock valued at $1,912,000 after buying an additional 25,986 shares in the last quarter. Finally, Connective Portfolio Management LLC purchased a new stake in shares of Ciena during the 2nd quarter valued at $651,000. 91.99% of the stock is currently owned by institutional investors.

Ciena Stock Down 0.9%

Shares of Ciena stock opened at $206.86 on Wednesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.52 and a current ratio of 3.28. Ciena Corporation has a 52-week low of $49.21 and a 52-week high of $214.17. The company’s 50 day moving average price is $157.90 and its 200-day moving average price is $109.03. The stock has a market capitalization of $29.18 billion, a price-to-earnings ratio of 213.26, a P/E/G ratio of 2.62 and a beta of 1.17.

Ciena (NYSE:CIEN) last posted its quarterly earnings results on Thursday, April 6th. The communications equipment provider reported $0.47 EPS for the quarter. The company had revenue of $844.44 million during the quarter. Ciena had a net margin of 3.10% and a return on equity of 6.62%. Equities research analysts forecast that Ciena Corporation will post 1.6 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Evercore ISI increased their target price on Ciena from $120.00 to $200.00 and gave the company an “in-line” rating in a research note on Monday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ciena in a research note on Wednesday, October 8th. Bank of America increased their price objective on Ciena from $135.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, September 17th. Argus raised their price objective on Ciena from $100.00 to $135.00 and gave the company a “buy” rating in a report on Friday, September 5th. Finally, Wall Street Zen downgraded Ciena from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Three analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Ciena currently has a consensus rating of “Moderate Buy” and an average target price of $153.20.

Insider Activity

In other Ciena news, SVP Brodie Gage sold 350 shares of the company’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $169.36, for a total transaction of $59,276.00. Following the completion of the transaction, the senior vice president owned 40,653 shares of the company’s stock, valued at $6,884,992.08. This represents a 0.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Joseph Cumello sold 1,863 shares of the stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $141.14, for a total value of $262,943.82. Following the completion of the sale, the senior vice president owned 43,531 shares of the company’s stock, valued at approximately $6,143,965.34. This trade represents a 4.10% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 52,174 shares of company stock valued at $7,231,504. 0.93% of the stock is currently owned by insiders.

Ciena Company 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.