Analog Century Management LP Sells 123,230 Shares of Ciena Co. (NYSE:CIEN)

Analog Century Management LP cut its position in Ciena Co. (NYSE:CIEN - Free Report) by 16.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 632,802 shares of the communications equipment provider's stock after selling 123,230 shares during the period. Ciena makes up about 3.6% of Analog Century Management LP's investment portfolio, making the stock its 16th largest holding. Analog Century Management LP owned about 0.45% of Ciena worth $53,668,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Greenleaf Trust raised its stake in Ciena by 2.8% during the 4th quarter. Greenleaf Trust now owns 4,978 shares of the communications equipment provider's stock valued at $422,000 after buying an additional 136 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in shares of Ciena by 108.6% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 290 shares of the communications equipment provider's stock valued at $25,000 after buying an additional 151 shares during the period. Bessemer Group Inc. lifted its holdings in shares of Ciena by 73.7% during the 4th quarter. Bessemer Group Inc. now owns 356 shares of the communications equipment provider's stock valued at $30,000 after buying an additional 151 shares during the period. US Bancorp DE lifted its holdings in shares of Ciena by 1.5% during the 4th quarter. US Bancorp DE now owns 10,459 shares of the communications equipment provider's stock valued at $887,000 after buying an additional 152 shares during the period. Finally, Atlas Capital Advisors Inc. lifted its holdings in shares of Ciena by 77.2% during the 4th quarter. Atlas Capital Advisors Inc. now owns 420 shares of the communications equipment provider's stock valued at $36,000 after buying an additional 183 shares during the period. 91.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Ciena news, CEO Gary B. Smith sold 6,800 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $59.54, for a total transaction of $404,872.00. Following the completion of the transaction, the chief executive officer now owns 375,680 shares in the company, valued at $22,367,987.20. The trade was a 1.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Jason Phipps sold 18,888 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $59.88, for a total value of $1,131,013.44. Following the transaction, the senior vice president now owns 89,258 shares of the company's stock, valued at $5,344,769.04. This trade represents a 17.47 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 49,288 shares of company stock worth $3,299,980. Corporate insiders own 0.93% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CIEN shares. Needham & Company LLC decreased their target price on Ciena from $95.00 to $90.00 and set a "buy" rating on the stock in a report on Wednesday, March 12th. Barclays set a $100.00 target price on Ciena and gave the stock an "overweight" rating in a report on Wednesday, March 12th. Morgan Stanley decreased their price target on Ciena from $80.00 to $76.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 12th. Citigroup decreased their price target on Ciena from $98.00 to $75.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, Rosenblatt Securities decreased their price target on Ciena from $73.00 to $65.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Ciena currently has an average rating of "Moderate Buy" and an average price target of $77.62.

Ciena Trading Up 0.4 %

CIEN traded up $0.29 on Tuesday, hitting $66.77. The company had a trading volume of 503,263 shares, compared to its average volume of 2,490,431. The company has a market cap of $9.49 billion, a PE ratio of 117.14, a PEG ratio of 1.54 and a beta of 1.15. Ciena Co. has a 12-month low of $44.69 and a 12-month high of $101.44. The company has a quick ratio of 2.72, a current ratio of 3.55 and a debt-to-equity ratio of 0.54. The business's fifty day simple moving average is $65.62 and its 200 day simple moving average is $73.81.

About Ciena

Ciena Corporation provides hardware and software services for delivery of video, data, and voice traffic metro, aggregation, and access communications network worldwide. The company's Networking Platforms segment offers convergence of coherent optical transport, open optical networking, optical transport network switching, IP routing, and switching services.