FORA Capital LLC Takes $2.58 Million Position in Ciena Corporation $CIEN

Key Points

• FORA Capital LLC has acquired 42,767 shares of Ciena Corporation valued at approximately $2.58 million during the 1st quarter.
• Various institutional investors have increased their stakes in Ciena, with notable growth from Hsbc Holdings PLC increasing its position by 321.6% in the 4th quarter.
• Ciena reported earnings of $0.42 per share, missing estimates, but its quarterly revenue rose by 23.6% compared to the previous year.

FORA Capital LLC acquired a new position in Ciena Corporation (NYSE:CIEN - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 42,767 shares of the communications equipment provider's stock, valued at approximately $2,584,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in CIEN. Bessemer Group Inc. lifted its stake in shares of Ciena by 50.0% in the 1st quarter. Bessemer Group Inc. now owns 534 shares of the communications equipment provider's stock valued at $32,000 after purchasing an additional 178 shares during the period. Bayforest Capital Ltd lifted its stake in shares of Ciena by 34.7% in the 1st 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 during the period. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Ciena by 66.7% in the 1st 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 during the period. Orion Capital Management LLC bought a new position in Ciena during the 4th quarter valued at approximately $42,000. Finally, AdvisorNet Financial Inc increased its position in Ciena by 9,162.5% during the 1st quarter. AdvisorNet Financial Inc now owns 741 shares of the communications equipment provider's stock valued at $45,000 after buying an additional 733 shares in the last quarter. Hedge funds and other institutional investors own 91.99% of the company's stock.

Ciena Stock Performance

Shares of CIEN traded down $4.04 during trading hours on Friday, hitting $93.85. The stock had a trading volume of 2,230,646 shares, compared to its average volume of 1,676,162. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.40 and a quick ratio of 2.57. Ciena Corporation has a 12 month low of $49.21 and a 12 month high of $101.44. The firm has a market capitalization of $13.27 billion, a PE ratio of 130.35, a PEG ratio of 2.10 and a beta of 1.11. The stock has a fifty day moving average price of $87.00 and a 200 day moving average price of $76.79.

Ciena (NYSE:CIEN - Get Free Report) last released its earnings results 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 2.46% and a return on equity of 5.08%. Ciena's revenue for the quarter was up 23.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.27 earnings per share. Ciena has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Analysts anticipate that Ciena Corporation will post 1.6 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on CIEN. Evercore ISI reaffirmed a "mixed" rating on shares of Ciena in a research report on Friday, June 6th. B. Riley reaffirmed a "buy" rating and set a $90.00 price objective (up previously from $89.00) on shares of Ciena in a research report on Friday, June 6th. Rosenblatt Securities raised their price objective on Ciena from $78.00 to $100.00 and gave the company a "neutral" rating in a research report on Friday. Wolfe Research raised Ciena to a "strong-buy" rating in a report on Tuesday, July 8th. Finally, Wall Street Zen lowered Ciena from a "buy" rating to a "hold" rating in a report on Friday, August 22nd. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $86.69.

Insider Transactions at Ciena

In related news, SVP Brodie Gage sold 350 shares of the business's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $90.94, for a total value of $31,829.00. Following the sale, the senior vice president directly owned 43,268 shares in the company, valued at approximately $3,934,791.92. The trade was a 0.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Joseph Cumello sold 2,044 shares of the business's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $81.64, for a total value of $166,872.16. Following the sale, the senior vice president directly owned 47,198 shares in the company, valued at $3,853,244.72. The trade was a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,969 shares of company stock valued at $2,694,781 over the last three months. Corporate insiders own 0.93% of the company's stock.

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.