Ciena Corporation $CIEN Shares Bought by Analog Century Management LP

Key Points

• Analog Century Management LP increased its stake in Ciena Corporation by 33.0%, acquiring an additional 208,509 shares, bringing its total holdings to 841,311 shares, which constitutes approximately 4.1% of its portfolio.
• In the last quarter, insiders sold 32,969 shares of Ciena stock valued at nearly $2.7 million, with CEO Gary B. Smith selling 6,800 shares valued at over $559,000.
• Despite missing earnings expectations, Ciena reported a 23.6% year-over-year increase in revenue for the quarter, totaling $1.13 billion, compared to analysts' predictions of $1.09 billion.

Analog Century Management LP boosted its stake in Ciena Corporation (NYSE:CIEN - Free Report) by 33.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 841,311 shares of the communications equipment provider's stock after purchasing an additional 208,509 shares during the quarter. Ciena comprises 4.1% of Analog Century Management LP's portfolio, making the stock its 12th largest position. Analog Century Management LP owned about 0.59% of Ciena worth $50,840,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Bank of America Corp DE grew its stake in Ciena by 1.6% during the fourth quarter. Bank of America Corp DE now owns 3,227,020 shares of the communications equipment provider's stock worth $273,684,000 after buying an additional 49,996 shares during the period. Polar Capital Holdings Plc grew its stake in Ciena by 113.7% during the fourth quarter. Polar Capital Holdings Plc now owns 2,169,406 shares of the communications equipment provider's stock worth $183,987,000 after buying an additional 1,154,260 shares during the period. Northern Trust Corp grew its stake in Ciena by 26.2% during the fourth quarter. Northern Trust Corp now owns 1,238,284 shares of the communications equipment provider's stock worth $105,019,000 after buying an additional 257,197 shares during the period. Nuveen LLC purchased a new stake in Ciena during the first quarter worth approximately $70,065,000. Finally, Janus Henderson Group PLC grew its stake in Ciena by 971.7% during the fourth quarter. Janus Henderson Group PLC now owns 729,722 shares of the communications equipment provider's stock worth $61,891,000 after buying an additional 661,630 shares during the period. 91.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CIEN. Wall Street Zen downgraded shares of Ciena from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Ciena from $83.00 to $105.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. UBS Group boosted their price objective on shares of Ciena from $73.00 to $78.00 and gave the stock a "neutral" rating in a research note on Friday, June 6th. Needham & Company LLC reiterated a "buy" rating and set a $90.00 price objective on shares of Ciena in a research note on Friday, June 6th. Finally, Rosenblatt Securities boosted their target price on shares of Ciena from $78.00 to $100.00 and gave the stock a "neutral" rating in a research report on Friday. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $86.69.

Insider Activity at Ciena

In other Ciena news, SVP Brodie Gage sold 350 shares of the stock in a transaction on Friday, August 15th. The shares were sold at an average price of $90.94, for a total transaction of $31,829.00. Following the sale, the senior vice president directly owned 43,268 shares of the company's stock, valued at approximately $3,934,791.92. This represents a 0.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jason Phipps sold 2,325 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $80.50, for a total transaction of $187,162.50. Following the sale, the senior vice president directly owned 84,833 shares in the company, valued at $6,829,056.50. This trade represents a 2.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,969 shares of company stock valued at $2,694,781. Insiders own 0.93% of the company's stock.

Ciena Stock Down 0.6%

CIEN traded down $0.53 during trading on Tuesday, hitting $93.44. The company had a trading volume of 2,701,613 shares, compared to its average volume of 2,254,332. The company has a market cap of $13.21 billion, a PE ratio of 129.78, a P/E/G ratio of 2.10 and a beta of 1.16. The business has a 50-day moving average of $87.37 and a 200-day moving average of $76.74. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.40 and a quick ratio of 2.57. Ciena Corporation has a 1-year low of $49.21 and a 1-year high of $101.44.

Ciena (NYSE:CIEN - Get Free Report) last posted its quarterly earnings results on Thursday, June 5th. The communications equipment provider reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.08). The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.09 billion. Ciena had a net margin of 2.46% and a return on equity of 5.08%. The company's revenue was up 23.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.27 earnings per share. Ciena has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, analysts forecast that Ciena Corporation will post 1.6 earnings per share for the current year.

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.