State Board of Administration of Florida Retirement System Has $2.25 Million Position in Ciena Corporation (CIEN)

State Board of Administration of Florida Retirement System increased its stake in shares of Ciena Corporation (NYSE:CIEN) by 23.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 102,209 shares of the communications equipment provider’s stock after purchasing an additional 19,711 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.07% of Ciena Corporation worth $2,246,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Capstone Asset Management Co. increased its position in Ciena Corporation by 1.3% during the 2nd quarter. Capstone Asset Management Co. now owns 10,490 shares of the communications equipment provider’s stock valued at $262,000 after buying an additional 130 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in Ciena Corporation by 7.3% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 51,973 shares of the communications equipment provider’s stock valued at $1,300,000 after buying an additional 3,536 shares in the last quarter. LS Investment Advisors LLC increased its position in Ciena Corporation by 18.8% during the 2nd quarter. LS Investment Advisors LLC now owns 11,212 shares of the communications equipment provider’s stock valued at $281,000 after buying an additional 1,777 shares in the last quarter. Nisa Investment Advisors LLC increased its position in Ciena Corporation by 1.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 10,740 shares of the communications equipment provider’s stock valued at $269,000 after buying an additional 200 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its position in Ciena Corporation by 3.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 37,000 shares of the communications equipment provider’s stock valued at $926,000 after buying an additional 1,300 shares in the last quarter.

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Ciena Corporation (CIEN) opened at $20.40 on Friday. The stock has a market capitalization of $2,830.94, a P/E ratio of 14.38, a price-to-earnings-growth ratio of 0.78 and a beta of 1.64. The company has a current ratio of 2.92, a quick ratio of 2.50 and a debt-to-equity ratio of 0.99. Ciena Corporation has a 1 year low of $19.40 and a 1 year high of $27.98.

Ciena Corporation (NYSE:CIEN) last issued its quarterly earnings results on Thursday, August 31st. The communications equipment provider reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.02. The company had revenue of $728.70 million for the quarter, compared to the consensus estimate of $726.81 million. Ciena Corporation had a return on equity of 25.53% and a net margin of 4.99%. Ciena Corporation’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.42 earnings per share. equities analysts forecast that Ciena Corporation will post 1.51 EPS for the current fiscal year.

CIEN has been the topic of several recent analyst reports. Stifel Nicolaus reaffirmed a “buy” rating on shares of Ciena Corporation in a research report on Friday, November 3rd. Citigroup Inc. raised Ciena Corporation from a “neutral” rating to a “buy” rating and upped their target price for the company from $23.87 to $29.00 in a research report on Wednesday, August 30th. BidaskClub lowered Ciena Corporation from a “sell” rating to a “strong sell” rating in a research report on Saturday, November 4th. Nomura reduced their target price on Ciena Corporation from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, September 1st. Finally, Zacks Investment Research lowered Ciena Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, October 31st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $29.53.

In other Ciena Corporation news, CEO Gary B. Smith sold 8,000 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $23.27, for a total transaction of $186,160.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP David M. Rothenstein sold 2,000 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $19.50, for a total value of $39,000.00. The disclosure for this sale can be found here. Insiders have sold 87,052 shares of company stock worth $1,880,078 in the last quarter. 1.45% of the stock is currently owned by company insiders.

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.

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

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