Amanah Holdings Trust Takes Position in Ciena Corporation $CIEN

Amanah Holdings Trust bought a new position in shares of Ciena Corporation (NYSE:CIEN - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 200,000 shares of the communications equipment provider's stock, valued at approximately $46,774,000. Ciena comprises approximately 6.9% of Amanah Holdings Trust's portfolio, making the stock its 7th biggest holding. Amanah Holdings Trust owned 0.14% of Ciena as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. KBC Group NV raised its stake in shares of Ciena by 11.3% in the fourth quarter. KBC Group NV now owns 31,161 shares of the communications equipment provider's stock valued at $7,288,000 after acquiring an additional 3,156 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Ciena by 53.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 445,359 shares of the communications equipment provider's stock worth $104,156,000 after acquiring an additional 155,712 shares during the last quarter. FengHe Fund Management Pte. Ltd. grew its position in Ciena by 164.0% during the 4th quarter. FengHe Fund Management Pte. Ltd. now owns 660,988 shares of the communications equipment provider's stock worth $154,585,000 after acquiring an additional 410,588 shares during the last quarter. DNB Asset Management AS increased its holdings in Ciena by 1,095.8% during the 4th quarter. DNB Asset Management AS now owns 27,527 shares of the communications equipment provider's stock valued at $6,438,000 after purchasing an additional 25,225 shares in the last quarter. Finally, Peak Financial Advisors LLC increased its holdings in Ciena by 222.7% during the 4th quarter. Peak Financial Advisors LLC now owns 11,596 shares of the communications equipment provider's stock valued at $2,712,000 after purchasing an additional 8,003 shares in the last quarter. Institutional investors and hedge funds own 91.99% of the company's stock.

Insider Activity at Ciena

In other news, CEO Gary B. Smith sold 2,952 shares of the business's stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $415.51, for a total value of $1,226,585.52. Following the completion of the transaction, the chief executive officer owned 281,365 shares of the company's stock, valued at $116,909,971.15. The trade was a 1.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Brodie Gage sold 5,000 shares of the business's stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $405.00, for a total value of $2,025,000.00. Following the completion of the transaction, the senior vice president directly owned 46,341 shares of the company's stock, valued at approximately $18,768,105. The trade was a 9.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 45,374 shares of company stock worth $20,349,470. 0.58% of the stock is currently owned by company insiders.

Ciena Trading Down 2.0%

NYSE CIEN opened at $428.02 on Friday. Ciena Corporation has a 12 month low of $73.55 and a 12 month high of $637.51. The stock has a 50-day simple moving average of $521.05 and a 200 day simple moving average of $371.61. The company has a current ratio of 2.73, a quick ratio of 2.11 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $60.59 billion, a PE ratio of 142.67 and a beta of 1.24.

Ciena (NYSE:CIEN - Get Free Report) last issued its earnings results on Thursday, June 4th. The communications equipment provider reported $1.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.46 by $0.18. The firm had revenue of $1.57 billion for the quarter, compared to analysts' expectations of $1.50 billion. Ciena had a return on equity of 18.15% and a net margin of 7.87%.The company's revenue was up 39.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.42 earnings per share. Research analysts forecast that Ciena Corporation will post 5.4 EPS for the current year.

Wall Street Analyst Weigh In

CIEN has been the topic of a number of recent analyst reports. Northland Securities set a $450.00 price objective on Ciena in a research note on Friday, June 5th. TD Cowen raised their target price on Ciena from $425.00 to $675.00 and gave the company a "buy" rating in a research note on Friday, May 15th. Rosenblatt Securities lifted their price target on Ciena from $350.00 to $720.00 and gave the company a "buy" rating in a report on Friday, June 5th. Barclays lifted their price target on Ciena from $372.00 to $607.00 and gave the company an "overweight" rating in a report on Friday, June 5th. Finally, Citigroup increased their price objective on shares of Ciena from $345.00 to $658.00 and gave the stock a "buy" rating in a report on Monday, May 18th. Thirteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Ciena presently has a consensus rating of "Moderate Buy" and a consensus price target of $530.56.

About Ciena

Ciena Corporation NYSE: CIEN is a global supplier of telecommunications networking equipment, software and services. The company develops high-capacity optical transport systems and packet-optical platforms that enable service providers, cloud operators and large enterprises to build, manage and scale their networks. Ciena's product portfolio includes coherent optical solutions, packet networking platforms and a suite of network automation software designed to optimize bandwidth, reduce latency and simplify network operations.

In addition to hardware offerings, Ciena provides professional services and support, including network design, implementation and ongoing maintenance.

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