Universal Beteiligungs und Servicegesellschaft mbH Makes New Investment in Ciena Corporation (NYSE:CIEN)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has acquired 18,818 shares of Ciena Corporation, amounting to approximately $1,137,000.
• Despite a revenue increase of 23.6% year-over-year, Ciena's earnings per share (EPS) of $0.42 fell short of analysts' estimates.
• Analysts have assigned a consensus rating of "Moderate Buy" to Ciena, with an average price target of $85.54.

Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Ciena Corporation (NYSE:CIEN - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 18,818 shares of the communications equipment provider's stock, valued at approximately $1,137,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Y Intercept Hong Kong Ltd acquired a new stake in Ciena during the 1st quarter worth $4,305,000. Allianz Asset Management GmbH raised its stake in Ciena by 44.7% during the 1st quarter. Allianz Asset Management GmbH now owns 103,437 shares of the communications equipment provider's stock worth $6,251,000 after acquiring an additional 31,947 shares in the last quarter. Forum Financial Management LP increased its stake in Ciena by 20.8% in the first quarter. Forum Financial Management LP now owns 3,684 shares of the communications equipment provider's stock valued at $223,000 after purchasing an additional 634 shares during the period. Tectonic Advisors LLC increased its stake in Ciena by 24.0% in the first quarter. Tectonic Advisors LLC now owns 91,547 shares of the communications equipment provider's stock valued at $5,532,000 after purchasing an additional 17,709 shares during the period. Finally, First Business Financial Services Inc. increased its stake in Ciena by 8.1% in the first quarter. First Business Financial Services Inc. now owns 24,301 shares of the communications equipment provider's stock valued at $1,469,000 after purchasing an additional 1,827 shares during the period. 91.99% of the stock is currently owned by institutional investors and hedge funds.

Ciena Stock Performance

Shares of NYSE:CIEN traded down $4.29 during midday trading on Friday, hitting $88.55. The stock had a trading volume of 2,151,918 shares, compared to its average volume of 1,962,251. The company has a market capitalization of $12.52 billion, a PE ratio of 122.99, a P/E/G ratio of 1.98 and a beta of 1.11. The stock has a 50 day moving average price of $80.75 and a two-hundred day moving average price of $76.11. The company has a current ratio of 3.40, a quick ratio of 2.57 and a debt-to-equity ratio of 0.55. Ciena Corporation has a 1 year low of $44.89 and a 1 year high of $101.44.

Ciena (NYSE:CIEN - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The communications equipment provider reported $0.42 EPS for the quarter, missing analysts' consensus estimates of $0.50 by ($0.08). The company had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $1.09 billion. Ciena had a return on equity of 5.08% and a net margin of 2.46%. The firm's quarterly revenue was up 23.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.27 EPS. As a group, equities analysts predict that Ciena Corporation will post 1.6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CIEN has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of Ciena from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Evercore ISI restated a "mixed" rating on shares of Ciena in a research note on Friday, June 6th. Northland Securities set a $100.00 price objective on shares of Ciena in a research note on Monday, June 30th. UBS Group lifted their price objective on shares of Ciena from $73.00 to $78.00 and gave the company a "neutral" rating in a research note on Friday, June 6th. Finally, Needham & Company LLC restated a "buy" rating and issued a $90.00 price objective on shares of Ciena in a research note on Friday, June 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $85.54.

Insider Activity

In related news, CEO Gary B. Smith sold 6,800 shares of the business's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $82.23, for a total transaction of $559,164.00. Following the sale, the chief executive officer owned 325,557 shares of the company's stock, valued at approximately $26,770,552.11. The trade was a 2.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP David M. Rothenstein sold 2,500 shares of the business's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $79.93, for a total transaction of $199,825.00. Following the sale, the senior vice president directly owned 202,370 shares in the company, valued at approximately $16,175,434.10. This represents a 1.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,469 shares of company stock valued at $2,817,891 in the last quarter. Insiders own 0.93% of the company's stock.

Ciena Company Profile

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.