Ciena Corporation (NYSE:CIEN) Shares Bought by Penserra Capital Management LLC

Penserra Capital Management LLC grew its holdings in shares of Ciena Corporation (NYSE:CIEN - Free Report) by 9.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 40,391 shares of the communications equipment provider's stock after acquiring an additional 3,441 shares during the quarter. Penserra Capital Management LLC's holdings in Ciena were worth $2,440,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Annis Gardner Whiting Capital Advisors LLC boosted its position in 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 worth $25,000 after acquiring an additional 151 shares during the period. Bessemer Group Inc. boosted its position in Ciena by 73.7% during the 4th quarter. Bessemer Group Inc. now owns 356 shares of the communications equipment provider's stock worth $30,000 after acquiring an additional 151 shares during the period. US Bancorp DE boosted its position in Ciena by 1.5% during the 4th quarter. US Bancorp DE now owns 10,459 shares of the communications equipment provider's stock worth $887,000 after acquiring an additional 152 shares during the period. State of Alaska Department of Revenue raised its stake in shares of Ciena by 1.1% in the 1st quarter. State of Alaska Department of Revenue now owns 16,649 shares of the communications equipment provider's stock worth $1,006,000 after buying an additional 180 shares in the last quarter. Finally, Atlas Capital Advisors Inc. raised its stake in shares of Ciena by 77.2% in the 4th quarter. Atlas Capital Advisors Inc. now owns 420 shares of the communications equipment provider's stock worth $36,000 after buying an additional 183 shares in the last quarter. Institutional investors and hedge funds own 91.99% of the company's stock.

Ciena Trading Down 1.6%

Shares of NYSE CIEN opened at $80.11 on Tuesday. Ciena Corporation has a 12 month low of $44.89 and a 12 month high of $101.44. The company has a market cap of $11.33 billion, a price-to-earnings ratio of 111.26, a P/E/G ratio of 1.82 and a beta of 1.11. The company has a quick ratio of 2.57, a current ratio of 3.40 and a debt-to-equity ratio of 0.55. The business has a fifty day simple moving average of $77.31 and a 200-day simple moving average of $76.02.

Ciena (NYSE:CIEN - Get Free Report) last announced its earnings results on Thursday, June 5th. The communications equipment provider reported $0.42 EPS 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 2.46% and a return on equity of 5.08%. The company's revenue for the quarter 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. Sell-side analysts predict that Ciena Corporation will post 1.6 EPS for the current year.

Insider Transactions at Ciena

In related news, SVP Joseph Cumello sold 2,044 shares of the stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $81.64, for a total value of $166,872.16. Following the completion of the sale, the senior vice president directly owned 47,198 shares of the company's stock, valued at approximately $3,853,244.72. This represents a 4.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP David M. Rothenstein sold 2,500 shares of the stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $79.93, for a total value of $199,825.00. Following the completion of the sale, the senior vice president directly owned 202,370 shares of the company's stock, valued at approximately $16,175,434.10. This represents a 1.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,919 shares of company stock worth $3,115,199. 0.93% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently commented on CIEN. Barclays set a $100.00 price objective on Ciena and gave the stock an "overweight" rating in a research note on Wednesday, March 12th. Northland Capmk raised Ciena from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 12th. Rosenblatt Securities boosted their price objective on Ciena from $65.00 to $85.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 3rd. Morgan Stanley boosted their price objective on Ciena from $44.00 to $73.00 and gave the stock an "equal weight" rating in a research note on Friday, June 6th. Finally, B. Riley reissued a "buy" rating and issued a $90.00 price objective (up previously from $89.00) on shares of Ciena in a research note on Friday, June 6th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Ciena presently has a consensus rating of "Moderate Buy" and a consensus target price of $84.31.

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.

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