Impax Asset Management Group plc Has $9.06 Million Holdings in Ciena Corporation (NYSE:CIEN)

Impax Asset Management Group plc raised its holdings in Ciena Corporation (NYSE:CIEN - Free Report) by 15.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 149,914 shares of the communications equipment provider's stock after buying an additional 19,500 shares during the quarter. Impax Asset Management Group plc owned 0.11% of Ciena worth $9,059,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. US Bancorp DE grew 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 last quarter. Jones Financial Companies Lllp grew its holdings in Ciena by 643.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,192 shares of the communications equipment provider's stock worth $186,000 after acquiring an additional 1,897 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Ciena by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 959,831 shares of the communications equipment provider's stock worth $81,403,000 after acquiring an additional 4,315 shares during the last quarter. Atria Investments Inc grew its holdings in Ciena by 28.7% during the 4th quarter. Atria Investments Inc now owns 41,557 shares of the communications equipment provider's stock worth $3,524,000 after acquiring an additional 9,274 shares during the last quarter. Finally, M&T Bank Corp grew its holdings in Ciena by 5.2% during the 4th quarter. M&T Bank Corp now owns 8,400 shares of the communications equipment provider's stock worth $712,000 after acquiring an additional 412 shares during the last quarter. Institutional investors own 91.99% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on CIEN shares. Evercore ISI restated a "mixed" rating on shares of Ciena in a research report on Friday, June 6th. Wall Street Zen raised Ciena from a "hold" rating to a "buy" rating in a research note on Saturday. UBS Group upped their price target on Ciena from $73.00 to $78.00 and gave the company a "neutral" rating in a research note on Friday, June 6th. Rosenblatt Securities upped their target price on shares of Ciena from $65.00 to $85.00 and gave the company a "neutral" rating in a research report on Tuesday, June 3rd. Finally, Citigroup cut their target price on shares of Ciena from $98.00 to $75.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $84.31.

Insiders Place Their Bets

In other news, SVP Joseph Cumello sold 2,044 shares of Ciena stock in a transaction that occurred on Friday, June 27th. The shares were 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. This trade represents a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP David M. Rothenstein sold 2,500 shares of Ciena stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $79.93, for a total transaction of $199,825.00. Following the completion of the sale, the senior vice president owned 202,370 shares in the company, valued at $16,175,434.10. The trade was a 1.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,919 shares of company stock worth $3,115,199 in the last 90 days. Company insiders own 0.93% of the company's stock.

Ciena Stock Down 1.7%

Shares of NYSE CIEN traded down $1.39 during mid-day trading on Monday, reaching $80.00. 210,222 shares of the company's stock were exchanged, compared to its average volume of 2,112,814. The company has a current ratio of 3.40, a quick ratio of 2.57 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $11.31 billion, a price-to-earnings ratio of 111.72, a PEG ratio of 1.82 and a beta of 1.11. The business has a fifty day simple moving average of $77.04 and a 200 day simple moving average of $76.07. Ciena Corporation has a twelve month low of $44.89 and a twelve month high of $101.44.

Ciena (NYSE:CIEN - Get Free Report) last issued its quarterly earnings data on Thursday, June 5th. The communications equipment provider reported $0.42 EPS for the quarter, missing analysts' consensus estimates 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 analyst estimates of $1.09 billion. During the same quarter in the previous year, the business earned $0.27 earnings per share. The company's revenue was up 23.6% on a year-over-year basis. As a group, equities analysts expect that Ciena Corporation will post 1.6 EPS for the current fiscal year.

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.