Ciena Corporation $CIEN Shares Sold by Analog Century Management LP

Analog Century Management LP lessened its stake in Ciena Corporation (NYSE:CIEN) by 40.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 428,787 shares of the communications equipment provider’s stock after selling 288,954 shares during the quarter. Ciena accounts for about 4.9% of Analog Century Management LP’s portfolio, making the stock its 8th largest holding. Analog Century Management LP’s holdings in Ciena were worth $100,280,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Community Bank N.A. acquired a new position in Ciena in the 3rd quarter worth about $25,000. Transamerica Financial Advisors LLC raised its holdings in Ciena by 71.0% in the 4th quarter. Transamerica Financial Advisors LLC now owns 106 shares of the communications equipment provider’s stock worth $25,000 after purchasing an additional 44 shares during the period. Assetmark Inc. raised its holdings in Ciena by 50.4% in the 3rd quarter. Assetmark Inc. now owns 200 shares of the communications equipment provider’s stock worth $29,000 after purchasing an additional 67 shares during the period. Ameritas Advisory Services LLC raised its holdings in Ciena by 104.0% in the 3rd quarter. Ameritas Advisory Services LLC now owns 204 shares of the communications equipment provider’s stock worth $30,000 after purchasing an additional 104 shares during the period. Finally, Hilltop National Bank acquired a new position in Ciena in the 4th quarter worth about $35,000. Institutional investors and hedge funds own 91.99% of the company’s stock.

Insider Transactions at Ciena

In other news, SVP Brodie Gage sold 1,200 shares of Ciena stock in a transaction that occurred 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 sale, the senior vice president directly owned 43,941 shares of the company’s stock, valued at $25,074,931.65. The trade was a 2.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jason Phipps sold 22,014 shares of Ciena stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $409.80, for a total value of $9,021,337.20. Following the completion of the sale, the senior vice president directly owned 68 shares in the company, valued at $27,866.40. This represents a 99.69% 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 44,174 shares of company stock valued at $19,502,359 over the last ninety days. Insiders own 0.58% of the company’s stock.

Ciena Stock Performance

Shares of NYSE:CIEN opened at $445.32 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.73 and a quick ratio of 2.11. The business’s 50 day moving average price is $521.49 and its 200-day moving average price is $363.71. The firm has a market capitalization of $63.04 billion, a PE ratio of 148.44 and a beta of 1.24. Ciena Corporation has a 1 year low of $71.72 and a 1 year high of $637.51.

Ciena (NYSE:CIEN) last issued its quarterly earnings results on Thursday, June 4th. The communications equipment provider reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.18. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.50 billion. Ciena had a return on equity of 18.15% and a net margin of 7.87%.The business’s revenue was up 39.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.42 earnings per share. As a group, equities research analysts expect that Ciena Corporation will post 5.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Weiss Ratings raised Ciena from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, June 5th. Stifel Nicolaus set a $615.00 price target on Ciena in a report on Friday, May 29th. Morgan Stanley upped their price target on Ciena from $405.00 to $490.00 and gave the stock an “equal weight” rating in a report on Friday, June 5th. Evercore set a $330.00 price target on Ciena in a report on Thursday, February 19th. Finally, Rothschild & Co Redburn assumed coverage on Ciena in a report on Friday, May 1st. They issued a “neutral” rating and a $416.00 price target for the company. Thirteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $530.56.

Ciena Company Profile

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.