Hel Ved Capital Management Ltd Purchases 40,145 Shares of Ciena Corporation $CIEN

Key Points

• Hel Ved Capital Management increased its Ciena stake by 134.1% in the fourth quarter, buying 40,145 additional shares and bringing its total to 70,085 shares valued at about $16.4 million.
• Institutional ownership remains very high, with 91.99% of Ciena shares held by institutions and hedge funds. Several other firms also added or established large positions in the stock.
• Ciena reported strong quarterly results, posting earnings of $1.64 per share on revenue of $1.57 billion, both above analyst expectations. Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $530.56.

Hel Ved Capital Management Ltd lifted its position in shares of Ciena Corporation (NYSE:CIEN - Free Report) by 134.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,085 shares of the communications equipment provider's stock after purchasing an additional 40,145 shares during the period. Ciena comprises 4.4% of Hel Ved Capital Management Ltd's portfolio, making the stock its 5th largest position. Hel Ved Capital Management Ltd's holdings in Ciena were worth $16,391,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in CIEN. Elyxium Wealth LLC acquired a new position in shares of Ciena during the fourth quarter worth $2,747,810,000. Lone Pine Capital LLC acquired a new position in shares of Ciena during the third quarter worth $292,310,000. Atreides Management LP acquired a new position in shares of Ciena during the second quarter worth $102,705,000. JPMorgan Chase & Co. lifted its position in shares of Ciena by 23.3% during the third quarter. JPMorgan Chase & Co. now owns 6,462,840 shares of the communications equipment provider's stock worth $941,451,000 after purchasing an additional 1,219,787 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Ciena by 2,174.2% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,143,855 shares of the communications equipment provider's stock worth $166,625,000 after purchasing an additional 1,093,557 shares in the last quarter. 91.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Jason Phipps sold 22,014 shares of the business's stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $409.80, for a total transaction of $9,021,337.20. Following the completion of the transaction, the senior vice president owned 68 shares of the company's stock, valued at approximately $27,866.40. The trade was a 99.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Brodie Gage sold 5,000 shares of the business's stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $405.00, for a total transaction of $2,025,000.00. Following the transaction, the senior vice president directly owned 46,341 shares of the company's stock, valued at approximately $18,768,105. This trade represents a 9.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 44,174 shares of company stock valued at $19,502,359. 0.58% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CIEN has been the topic of a number of recent research reports. B. Riley Financial boosted their target price on shares of Ciena from $283.00 to $531.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 2nd. Raymond James Financial lifted their price target on shares of Ciena from $320.00 to $530.00 and gave the stock an "outperform" rating in a research note on Thursday, June 4th. Weiss Ratings upgraded shares of Ciena from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, June 5th. Evercore set a $330.00 price target on shares of Ciena in a research note on Thursday, February 19th. Finally, UBS Group lifted their price target on shares of Ciena from $285.00 to $508.00 and gave the stock a "neutral" rating in a research note on Friday, June 5th. Thirteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $530.56.

Ciena Stock Up 0.0%

CIEN stock opened at $445.32 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.73 and a quick ratio of 2.11. Ciena Corporation has a 1-year low of $71.72 and a 1-year high of $637.51. The firm has a fifty day moving average price of $521.49 and a two-hundred day moving average price of $363.71. The firm has a market cap of $63.04 billion, a price-to-earnings ratio of 148.44 and a beta of 1.24.

Ciena (NYSE:CIEN - Get Free Report) last released its earnings results on Thursday, June 4th. The communications equipment provider reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.18. Ciena had a net margin of 7.87% and a return on equity of 18.15%. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the previous year, the firm earned $0.42 earnings per share. The firm's revenue for the quarter was up 39.5% compared to the same quarter last year. Research analysts predict that Ciena Corporation will post 5.41 EPS for the current year.

Ciena Company Profile

Ciena Corporation NYSE: CIEN is a global supplier of telecommunications networking equipment, software and services. The company develops high-capacity optical transport systems and packet-optical platforms that enable service providers, cloud operators and large enterprises to build, manage and scale their networks. Ciena's product portfolio includes coherent optical solutions, packet networking platforms and a suite of network automation software designed to optimize bandwidth, reduce latency and simplify network operations.

In addition to hardware offerings, Ciena provides professional services and support, including network design, implementation and ongoing maintenance.

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