Walser Wealth Management Company A Ltd Liability Co Invests $1.22 Million in Ciena Corporation $CIEN

Walser Wealth Management Company A Ltd Liability Co acquired a new stake in Ciena Corporation (NYSE:CIEN) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 5,197 shares of the communications equipment provider’s stock, valued at approximately $1,215,000. Ciena accounts for 0.6% of Walser Wealth Management Company A Ltd Liability Co’s portfolio, making the stock its 21st biggest holding.

Several other hedge funds also recently bought and sold shares of CIEN. Virtu Financial LLC bought a new stake in Ciena during the 4th quarter worth approximately $259,000. Invesco Ltd. lifted its stake in Ciena by 22.6% in the 4th quarter. Invesco Ltd. now owns 1,518,841 shares of the communications equipment provider’s stock worth $355,211,000 after purchasing an additional 280,096 shares in the last quarter. Rare Wolf Capital LLC bought a new position in Ciena in the 4th quarter valued at $279,000. Corient Private Wealth LLC boosted its holdings in Ciena by 30,114.5% in the 4th quarter. Corient Private Wealth LLC now owns 2,870,677 shares of the communications equipment provider’s stock valued at $671,365,000 after purchasing an additional 2,861,176 shares during the period. Finally, Mercer Global Advisors Inc. ADV grew its position in shares of Ciena by 18.0% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 28,612 shares of the communications equipment provider’s stock valued at $6,691,000 after purchasing an additional 4,364 shares in the last quarter. Hedge funds and other institutional investors own 91.99% of the company’s stock.

Ciena Price Performance

CIEN stock opened at $428.02 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. Ciena Corporation has a one year low of $73.55 and a one year high of $637.51. The stock has a market cap of $60.59 billion, a PE ratio of 142.67 and a beta of 1.24. The firm has a 50 day simple moving average of $521.05 and a two-hundred day simple moving average of $371.61.

Ciena (NYSE:CIEN) last issued its quarterly earnings results on Thursday, June 4th. The communications equipment provider reported $1.64 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 net margin of 7.87% and a return on equity of 18.15%. The business’s revenue for the quarter was up 39.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.42 EPS. On average, analysts predict that Ciena Corporation will post 5.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Argus set a $650.00 price target on shares of Ciena in a report on Friday, June 5th. Northland Securities set a $450.00 price objective on Ciena in a research note on Friday, June 5th. Stifel Nicolaus set a $615.00 target price on Ciena in a research report on Friday, May 29th. Wolfe Research restated an “outperform” rating and set a $375.00 target price on shares of Ciena in a research report on Thursday, March 5th. Finally, Rosenblatt Securities upped their target price on Ciena from $350.00 to $720.00 and gave the stock a “buy” rating in a research note on Friday, June 5th. Thirteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $530.56.

Insider Buying and Selling

In related news, SVP Jason Phipps sold 22,014 shares of the company’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $409.80, for a total value of $9,021,337.20. Following the completion of the transaction, the senior vice president directly owned 68 shares in the company, valued at approximately $27,866.40. The trade was a 99.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gary B. Smith sold 2,952 shares of the stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $415.51, for a total value of $1,226,585.52. Following the completion of the transaction, the chief executive officer directly owned 281,365 shares in the company, valued at approximately $116,909,971.15. This represents a 1.04% 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. Over the last ninety days, insiders sold 45,374 shares of company stock worth $20,349,470. Corporate insiders own 0.58% of the company’s stock.

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.