Charles Schwab Investment Management Inc. Sells 7,026 Shares of Ciena Corporation $CIEN

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Ciena Corporation by 0.7%, selling 7,026 shares and now holding approximately 952,805 shares worth $57.6 million.
• Several other institutional investors increased their stakes in Ciena, with Price T Rowe Associates growing by 195.9%, boosting their holdings to 4.6 million shares valued at $392 million.
• Ciena's recent earnings report showed a revenue increase of 23.6% year-over-year; however, it missed earnings per share estimates, reporting $0.42 instead of the expected $0.50.

Charles Schwab Investment Management Inc. cut its holdings in shares of Ciena Corporation (NYSE:CIEN - Free Report) by 0.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 952,805 shares of the communications equipment provider's stock after selling 7,026 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.67% of Ciena worth $57,578,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in CIEN. Bessemer Group Inc. grew its position in Ciena by 73.7% in the 4th quarter. Bessemer Group Inc. now owns 356 shares of the communications equipment provider's stock worth $30,000 after purchasing an additional 151 shares in the last quarter. Bayforest Capital Ltd grew its position in Ciena by 34.7% in the 1st quarter. Bayforest Capital Ltd now owns 636 shares of the communications equipment provider's stock worth $38,000 after purchasing an additional 164 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in Ciena by 66.7% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 640 shares of the communications equipment provider's stock worth $39,000 after purchasing an additional 256 shares in the last quarter. Orion Capital Management LLC bought a new stake in Ciena in the 4th quarter worth about $42,000. Finally, AdvisorNet Financial Inc grew its position in Ciena by 9,162.5% in the 1st quarter. AdvisorNet Financial Inc now owns 741 shares of the communications equipment provider's stock worth $45,000 after purchasing an additional 733 shares in the last quarter. 91.99% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Morgan Stanley reaffirmed an "underweight" rating and issued a $70.00 price objective (down from $73.00) on shares of Ciena in a research report on Tuesday, July 8th. B. Riley reaffirmed a "buy" rating and issued a $90.00 price objective (up from $89.00) on shares of Ciena in a research report on Friday, June 6th. Evercore ISI reiterated a "mixed" rating on shares of Ciena in a research note on Friday, June 6th. Wall Street Zen upgraded shares of Ciena from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $90.00 target price on shares of Ciena in a research note on Friday, June 6th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $85.54.

Insider Activity

In other Ciena news, CEO Gary B. Smith sold 6,800 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $90.54, for a total value of $615,672.00. Following the sale, the chief executive officer directly owned 311,957 shares in the company, valued at $28,244,586.78. This represents a 2.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Joseph Cumello sold 2,044 shares of the stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $81.64, for a total transaction of $166,872.16. Following the completion of the sale, the senior vice president owned 47,198 shares in the company, valued at $3,853,244.72. This represents a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,969 shares of company stock valued at $2,694,781. 0.93% of the stock is owned by company insiders.

Ciena Stock Performance

Shares of CIEN stock traded down $2.7170 during trading on Tuesday, reaching $89.2130. 759,105 shares of the company's stock traded hands, compared to its average volume of 2,265,958. The company has a market capitalization of $12.61 billion, a P/E ratio of 123.90, a PEG ratio of 2.03 and a beta of 1.11. The company has a current ratio of 3.40, a quick ratio of 2.57 and a debt-to-equity ratio of 0.55. The firm's 50-day moving average is $83.82 and its 200 day moving average is $76.59. 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 announced its quarterly earnings results 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). Ciena had a net margin of 2.46% and a return on equity of 5.08%. The business had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $1.09 billion. During the same quarter in the previous year, the company posted $0.27 earnings per share. The business's quarterly revenue was up 23.6% compared to the same quarter last year. Ciena has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities research analysts expect that Ciena Corporation will post 1.6 EPS for the current year.

Ciena 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.