Cramer Rosenthal Mcglynn LLC Has $24.11 Million Stake in Ciena Corporation $CIEN

Key Points

• Cramer Rosenthal Mcglynn LLC reduced its stake in Ciena Corporation by 6.5%, selling 27,653 shares, which reflects its overall holdings amounting to approximately $24.1 million.
• Ciena's latest quarterly earnings reported an EPS of $0.42, missing estimates, but showed a year-over-year revenue increase of 23.6% to $1.13 billion.
• Analysts have given Ciena a consensus rating of "Moderate Buy" with a price target averaging around $85.54, indicating varying levels of investor confidence.

Cramer Rosenthal Mcglynn LLC cut its position in Ciena Corporation (NYSE:CIEN - Free Report) by 6.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 398,973 shares of the communications equipment provider's stock after selling 27,653 shares during the period. Ciena accounts for about 1.7% of Cramer Rosenthal Mcglynn LLC's investment portfolio, making the stock its 25th biggest position. Cramer Rosenthal Mcglynn LLC owned 0.28% of Ciena worth $24,110,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quantitative Investment Management LLC acquired a new position in Ciena in the first quarter valued at about $1,377,000. Jump Financial LLC acquired a new position in Ciena in the first quarter valued at about $9,691,000. AlphaQuest LLC boosted its position in Ciena by 450.6% in the first quarter. AlphaQuest LLC now owns 6,150 shares of the communications equipment provider's stock valued at $372,000 after buying an additional 5,033 shares in the last quarter. Kestra Advisory Services LLC raised its stake in shares of Ciena by 224.2% in the first quarter. Kestra Advisory Services LLC now owns 15,304 shares of the communications equipment provider's stock worth $925,000 after acquiring an additional 10,583 shares during the last quarter. Finally, Titan Global Capital Management USA LLC bought a new position in shares of Ciena in the first quarter worth about $6,671,000. 91.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Ciena

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

Analyst Ratings Changes

CIEN has been the subject of a number of research analyst reports. UBS Group boosted their target price 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. 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 note on Friday. Northland Securities set a $100.00 target price on shares of Ciena in a research note on Monday, June 30th. Wolfe Research raised shares of Ciena to a "strong-buy" rating in a research note on Tuesday, July 8th. Finally, Morgan Stanley reaffirmed an "underweight" rating and issued a $70.00 target price (down from $73.00) on shares of Ciena in a research note on Tuesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $86.69.

Ciena Stock Down 4.1%

Shares of CIEN stock traded down $4.04 during trading hours on Friday, hitting $93.85. 2,230,612 shares of the company were exchanged, compared to its average volume of 2,251,697. The business has a 50 day moving average of $86.61 and a two-hundred day moving average of $76.83. The company has a current ratio of 3.40, a quick ratio of 2.57 and a debt-to-equity ratio of 0.55. Ciena Corporation has a 52 week low of $49.21 and a 52 week high of $101.44. The company has a market capitalization of $13.27 billion, a PE ratio of 130.35, a PEG ratio of 2.07 and a beta of 1.11.

Ciena (NYSE:CIEN - Get Free Report) last issued its quarterly earnings data 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). Ciena had a return on equity of 5.08% and a net margin of 2.46%.The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the company earned $0.27 EPS. The firm's revenue was up 23.6% on a year-over-year basis. Ciena has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Analysts anticipate that Ciena Corporation will post 1.6 earnings per share for the current fiscal year.

About Ciena

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.