Ciena Corporation (CIEN) Shares Bought by Royal Bank of Canada

Royal Bank of Canada raised its stake in Ciena Corporation (NYSE:CIEN) by 500.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 327,854 shares of the communications equipment provider’s stock after acquiring an additional 273,255 shares during the period. Royal Bank of Canada owned 0.23% of Ciena Corporation worth $8,203,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CIEN. BlackRock Inc. boosted its stake in Ciena Corporation by 11,733.7% in the first quarter. BlackRock Inc. now owns 15,755,200 shares of the communications equipment provider’s stock valued at $371,979,000 after acquiring an additional 15,622,062 shares in the last quarter. Vanguard Group Inc. boosted its stake in Ciena Corporation by 11.2% in the first quarter. Vanguard Group Inc. now owns 12,263,170 shares of the communications equipment provider’s stock valued at $289,534,000 after acquiring an additional 1,235,744 shares in the last quarter. Artemis Investment Management LLP acquired a new position in Ciena Corporation in the second quarter valued at $28,400,000. FIL Ltd acquired a new position in Ciena Corporation in the second quarter valued at $23,010,000. Finally, Teachers Advisors LLC boosted its stake in Ciena Corporation by 21.1% in the first quarter. Teachers Advisors LLC now owns 4,900,040 shares of the communications equipment provider’s stock valued at $115,690,000 after acquiring an additional 853,793 shares in the last quarter.

Ciena Corporation (CIEN) opened at 21.42 on Thursday. Ciena Corporation has a one year low of $18.94 and a one year high of $27.98. The firm has a 50-day moving average of $21.89 and a 200-day moving average of $23.75. The stock has a market capitalization of $3.06 billion, a PE ratio of 23.44 and a beta of 1.69.

Ciena Corporation (NYSE:CIEN) last posted its earnings results on Thursday, August 31st. The communications equipment provider reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.02. The firm had revenue of $728.70 million during the quarter, compared to analyst estimates of $726.81 million. Ciena Corporation had a net margin of 4.99% and a return on equity of 25.53%. Ciena Corporation’s revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.42 EPS. On average, equities research analysts forecast that Ciena Corporation will post $1.74 earnings per share for the current year.

TRADEMARK VIOLATION WARNING: This piece of content was originally published by Sports Perspectives and is the sole property of of Sports Perspectives. If you are accessing this piece of content on another site, it was stolen and republished in violation of international copyright and trademark law. The correct version of this piece of content can be accessed at https://sportsperspectives.com/2017/10/19/ciena-corporation-cien-shares-bought-by-royal-bank-of-canada.html.

Several brokerages have recently weighed in on CIEN. B. Riley reiterated a “buy” rating and set a $34.25 target price on shares of Ciena Corporation in a research note on Tuesday, August 29th. Stifel Nicolaus reiterated a “buy” rating and set a $32.00 target price on shares of Ciena Corporation in a research note on Friday, July 21st. ValuEngine upgraded shares of Ciena Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Northland Securities reiterated a “buy” rating and set a $32.00 target price on shares of Ciena Corporation in a research note on Tuesday, July 4th. Finally, Nomura reiterated a “buy” rating and set a $28.00 target price on shares of Ciena Corporation in a research note on Wednesday, September 20th. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $29.53.

In other news, CEO Gary B. Smith sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $26.25, for a total value of $105,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP David M. Rothenstein sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $21.56, for a total transaction of $43,120.00. The disclosure for this sale can be found here. Insiders have sold a total of 92,310 shares of company stock valued at $2,105,084 over the last three months. 1.45% of the stock is currently owned by company insiders.

Ciena Corporation 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.

Want to see what other hedge funds are holding CIEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ciena Corporation (NYSE:CIEN).

Institutional Ownership by Quarter for Ciena Corporation (NYSE:CIEN)

Receive News & Ratings for Ciena Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ciena Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply