Fort Washington Investment Advisors Inc. OH Raises Position in Ciena Co. (NYSE:CIEN)

Fort Washington Investment Advisors Inc. OH boosted its position in Ciena Co. (NYSE:CIEN - Free Report) by 14.7% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 262,973 shares of the communications equipment provider's stock after purchasing an additional 33,666 shares during the period. Fort Washington Investment Advisors Inc. OH owned about 0.19% of Ciena worth $15,891,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CIEN. Annis Gardner Whiting Capital Advisors LLC grew its position 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 acquiring an additional 151 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Ciena by 328.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 364 shares of the communications equipment provider's stock valued at $30,000 after acquiring an additional 279 shares during the period. Bessemer Group Inc. grew its position 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 acquiring an additional 151 shares during the period. Atlas Capital Advisors Inc. grew its position 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 acquiring an additional 183 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its position in shares of Ciena by 66.7% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 640 shares of the communications equipment provider's stock valued at $39,000 after acquiring an additional 256 shares during the period. 91.99% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CIEN has been the subject of several analyst reports. Morgan Stanley raised their price objective on shares of Ciena from $44.00 to $73.00 and gave the stock an "equal weight" rating in a report on Friday, June 6th. JPMorgan Chase & Co. raised their price objective on shares of Ciena from $76.00 to $86.00 and gave the stock an "overweight" rating in a report on Tuesday, May 27th. B. Riley reaffirmed a "buy" rating and issued a $90.00 price objective (up from $89.00) on shares of Ciena in a report on Friday, June 6th. Needham & Company LLC reaffirmed a "buy" rating and issued a $90.00 price objective on shares of Ciena in a report on Friday, June 6th. Finally, UBS Group raised their price objective on shares of Ciena from $73.00 to $78.00 and gave the stock a "neutral" rating in a report on Friday, June 6th. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Ciena currently has an average rating of "Moderate Buy" and a consensus price target of $83.15.

Insider Activity

In related news, SVP Brodie Gage sold 350 shares of Ciena stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $78.67, for a total value of $27,534.50. Following the transaction, the senior vice president now owns 46,233 shares in the company, valued at $3,637,150.11. This trade represents a 0.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jason Phipps sold 18,888 shares of Ciena stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $59.88, for a total transaction of $1,131,013.44. Following the completion of the transaction, the senior vice president now owns 89,258 shares in the company, valued at approximately $5,344,769.04. The trade was a 17.47% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,988 shares of company stock worth $2,988,095. 0.93% of the stock is currently owned by corporate insiders.

Ciena Price Performance

NYSE:CIEN traded up $1.58 during trading hours on Monday, hitting $73.74. The stock had a trading volume of 1,854,255 shares, compared to its average volume of 2,085,254. The company has a 50 day simple moving average of $72.06 and a two-hundred day simple moving average of $76.09. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.55 and a quick ratio of 2.72. Ciena Co. has a one year low of $44.89 and a one year high of $101.44. The firm has a market capitalization of $10.42 billion, a price-to-earnings ratio of 129.37, a P/E/G ratio of 1.54 and a beta of 1.12.

Ciena (NYSE:CIEN - Get Free Report) last posted its quarterly earnings data on Thursday, June 5th. The communications equipment provider reported $0.42 earnings per share for the quarter, missing the consensus estimate 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 net margin of 2.09% and a return on equity of 4.72%. The business's quarterly revenue was up 23.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.27 EPS. Research analysts forecast that Ciena Co. will post 1.6 earnings per share for the current fiscal 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.