EverSource Wealth Advisors LLC Purchases 3,502 Shares of Ciena Corporation $CIEN

Key Points

• EverSource Wealth Advisors LLC increased its stake in Ciena Corporation by 19.0% in the first quarter, owning 21,973 shares valued at approximately $1.33 million as of the latest SEC filing.
• Institutional investors and hedge funds own a substantial 91.99% of Ciena's stock, reflecting strong confidence in the company's prospects.
• Ciena Corporation's recent earnings report showed a revenue increase of 23.6% year-over-year, but its earnings per share of $0.42 missed analysts' estimates by $0.08.

EverSource Wealth Advisors LLC raised its stake in shares of Ciena Corporation (NYSE:CIEN - Free Report) by 19.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,973 shares of the communications equipment provider's stock after purchasing an additional 3,502 shares during the quarter. EverSource Wealth Advisors LLC's holdings in Ciena were worth $1,328,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Bessemer Group Inc. boosted its holdings in Ciena by 73.7% during the fourth quarter. Bessemer Group Inc. now owns 356 shares of the communications equipment provider's stock valued at $30,000 after purchasing an additional 151 shares in the last quarter. Bayforest Capital Ltd boosted its holdings in Ciena by 34.7% during the first quarter. Bayforest Capital Ltd now owns 636 shares of the communications equipment provider's stock valued at $38,000 after purchasing an additional 164 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in Ciena by 66.7% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 640 shares of the communications equipment provider's stock valued at $39,000 after purchasing an additional 256 shares in the last quarter. Orion Capital Management LLC acquired a new stake in Ciena during the fourth quarter valued at approximately $42,000. Finally, AdvisorNet Financial Inc boosted its holdings in Ciena by 9,162.5% during the first quarter. AdvisorNet Financial Inc now owns 741 shares of the communications equipment provider's stock valued at $45,000 after purchasing an additional 733 shares in the last quarter. 91.99% of the stock is owned by institutional investors and hedge funds.

Ciena Trading Up 0.9%

NYSE:CIEN traded up $0.8150 during trading hours on Thursday, hitting $87.4550. 349,091 shares of the stock were exchanged, compared to its average volume of 2,256,985. The company's 50 day moving average is $84.43 and its two-hundred day moving average is $76.75. The company has a market capitalization of $12.36 billion, a P/E ratio of 121.20, a price-to-earnings-growth ratio of 1.99 and a beta of 1.11. Ciena Corporation has a twelve month low of $49.21 and a twelve month high of $101.44. The company has a quick ratio of 2.57, a current ratio of 3.40 and a debt-to-equity ratio of 0.55.

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

Insider Buying and Selling at Ciena

In other Ciena news, CEO Gary B. Smith sold 6,800 shares of the company's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $90.54, for a total transaction of $615,672.00. Following the completion of the sale, the chief executive officer owned 311,957 shares in the company, valued at approximately $28,244,586.78. The trade was a 2.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Jason Phipps sold 2,325 shares of the company's 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 sale, the senior vice president owned 84,833 shares of the company's stock, valued at $6,829,056.50. The trade was a 2.67% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,969 shares of company stock worth $2,694,781. 0.93% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CIEN. Needham & Company LLC reaffirmed a "buy" rating and set a $90.00 price objective on shares of Ciena in a report on Friday, June 6th. Wolfe Research raised Ciena to a "strong-buy" rating in a report on Tuesday, July 8th. Wall Street Zen raised Ciena from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. Rosenblatt Securities boosted their target price on Ciena from $65.00 to $85.00 and gave the stock a "neutral" rating in a report on Tuesday, June 3rd. Finally, JPMorgan Chase & Co. boosted their target price on Ciena from $83.00 to $105.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $85.54.

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.