Commerzbank Aktiengesellschaft FI decreased its holdings in shares of Ciena Corporation (NYSE:CIEN) by 6.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 22,154 shares of the communications equipment provider’s stock after selling 1,475 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Ciena Corporation were worth $554,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Swiss National Bank increased its position in Ciena Corporation by 1.1% during the 1st quarter. Swiss National Bank now owns 229,700 shares of the communications equipment provider’s stock valued at $5,423,000 after purchasing an additional 2,600 shares during the period. Vanguard Group Inc. increased its position in Ciena Corporation by 11.2% during the 1st quarter. Vanguard Group Inc. now owns 12,263,170 shares of the communications equipment provider’s stock valued at $289,534,000 after purchasing an additional 1,235,744 shares during the period. Legal & General Group Plc increased its position in Ciena Corporation by 31.4% during the 1st quarter. Legal & General Group Plc now owns 91,386 shares of the communications equipment provider’s stock valued at $2,159,000 after purchasing an additional 21,834 shares during the period. Dupont Capital Management Corp increased its position in Ciena Corporation by 150.1% during the 2nd quarter. Dupont Capital Management Corp now owns 72,528 shares of the communications equipment provider’s stock valued at $1,815,000 after purchasing an additional 43,528 shares during the period. Finally, Credit Agricole S A increased its position in Ciena Corporation by 325.3% during the 1st quarter. Credit Agricole S A now owns 30,523 shares of the communications equipment provider’s stock valued at $721,000 after purchasing an additional 23,346 shares during the period.
A number of research analysts have commented on the stock. Stifel Nicolaus raised shares of Ciena Corporation from a “hold” rating to a “buy” rating and raised their target price for the company from $24.00 to $28.00 in a research report on Monday, May 22nd. Instinet restated a “buy” rating and issued a $30.00 price target (up from $27.00) on shares of Ciena Corporation in a report on Saturday, June 3rd. ValuEngine upgraded shares of Ciena Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Nomura lowered their price target on shares of Ciena Corporation from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, September 1st. Finally, UBS AG restated a “buy” rating and issued a $31.00 price target (up from $29.00) on shares of Ciena Corporation in a report on Monday, June 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $29.79.
Shares of Ciena Corporation (CIEN) opened at 21.72 on Friday. The firm’s 50-day moving average is $24.25 and its 200 day moving average is $24.30. Ciena Corporation has a 52 week low of $18.94 and a 52 week high of $27.98. The firm has a market capitalization of $3.08 billion, a PE ratio of 28.69 and a beta of 1.68.
Ciena Corporation (NYSE:CIEN) last issued its quarterly earnings results on Thursday, August 31st. The communications equipment provider reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.02. Ciena Corporation had a return on equity of 25.53% and a net margin of 4.99%. The firm had revenue of $728.70 million during the quarter, compared to the consensus estimate of $726.81 million. During the same period last year, the company earned $0.42 earnings per share. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities analysts forecast that Ciena Corporation will post $1.74 earnings per share for the current year.
In other Ciena Corporation news, VP Andrew C. Petrik sold 1,258 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $24.44, for a total value of $30,745.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Scott Mcfeely sold 1,000 shares of the firm’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $25.70, for a total value of $25,700.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 79,108 shares of company stock valued at $1,988,997. Corporate insiders own 1.45% of the company’s stock.
Ciena Corporation Company Profile
Ciena Corporation is a network strategy and technology company, which provides solutions that enable a range of network operators to adopt communication architectures and deliver an array of services, relied upon by enterprise and consumer end users. It provides equipment, software and services that support the transport, switching, aggregation, service delivery and management of voice, video and data traffic on communications networks.
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