Lmcg Investments LLC Has $23 Million Holdings in Ciena Corporation $CIEN

Key Points

• Lmcg Investments LLC cut its Ciena position by 42.8% in the first quarter, though it still held 59,248 shares valued at about $23.0 million. Ciena remains a meaningful holding for the fund, making up about 1.4% of its portfolio.
• Ciena reported strong quarterly results, with earnings of $1.64 per share beating estimates and revenue of $1.57 billion topping forecasts. Revenue jumped 39.5% year over year, and analysts expect the company to earn 5.4 EPS for the full fiscal year.
• Analyst sentiment remains constructive, with several firms raising price targets and the stock carrying a consensus rating of Moderate Buy. The average price target now stands at about $530.56, while some commentary warns that the stock’s rapid run-up has created valuation concerns.

Lmcg Investments LLC cut its position in shares of Ciena Corporation (NYSE:CIEN - Free Report) by 42.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,248 shares of the communications equipment provider's stock after selling 44,352 shares during the period. Ciena comprises about 1.4% of Lmcg Investments LLC's investment portfolio, making the stock its 17th largest position. Lmcg Investments LLC's holdings in Ciena were worth $23,002,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Elyxium Wealth LLC bought a new stake in Ciena in the 4th quarter valued at $2,747,810,000. State Street Corp lifted its holdings in shares of Ciena by 17.2% during the 4th quarter. State Street Corp now owns 5,102,409 shares of the communications equipment provider's stock worth $1,193,300,000 after acquiring an additional 750,128 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Ciena by 53.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,051,625 shares of the communications equipment provider's stock valued at $947,554,000 after acquiring an additional 1,404,132 shares in the last quarter. Bank of America Corp DE increased its stake in Ciena by 10.4% in the second quarter. Bank of America Corp DE now owns 3,495,795 shares of the communications equipment provider's stock valued at $284,313,000 after acquiring an additional 329,821 shares during the period. Finally, Corient Private Wealth LLC raised its position in Ciena by 30,114.5% in the fourth quarter. Corient Private Wealth LLC now owns 2,870,677 shares of the communications equipment provider's stock worth $671,365,000 after purchasing an additional 2,861,176 shares in the last quarter. 91.99% of the stock is owned by institutional investors.

Ciena Trading Down 3.6%

CIEN opened at $418.27 on Wednesday. Ciena Corporation has a 1-year low of $76.89 and a 1-year high of $637.51. The stock has a market capitalization of $59.21 billion, a PE ratio of 139.42 and a beta of 1.27. The company has a current ratio of 2.73, a quick ratio of 2.11 and a debt-to-equity ratio of 0.53. The firm has a 50-day moving average price of $510.15 and a two-hundred day moving average price of $393.93.

Ciena (NYSE:CIEN - Get Free Report) last released its quarterly earnings results on Thursday, June 4th. The communications equipment provider reported $1.64 EPS for the quarter, beating the consensus estimate of $1.46 by $0.18. The business had revenue of $1.57 billion for the quarter, compared to analysts' expectations of $1.50 billion. Ciena had a net margin of 7.87% and a return on equity of 18.15%. Ciena's revenue was up 39.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.42 earnings per share. As a group, equities analysts anticipate that Ciena Corporation will post 5.4 earnings per share for the current fiscal year.

Insider Transactions at Ciena

In other Ciena news, SVP Joseph Cumello sold 1,586 shares of the stock in a transaction on Friday, June 26th. The stock was sold at an average price of $466.33, for a total value of $739,599.38. Following the transaction, the senior vice president directly owned 42,872 shares in the company, valued at approximately $19,992,499.76. This trade represents a 3.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Brodie Gage sold 1,200 shares of Ciena stock in a transaction on Monday, June 15th. The shares were sold at an average price of $466.10, for a total value of $559,320.00. Following the completion of the sale, the senior vice president directly owned 42,741 shares of the company's stock, valued at $19,921,580.10. This trade represents a 2.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 22,827 shares of company stock worth $11,541,133 in the last quarter. 0.58% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CIEN shares. Morgan Stanley lifted their price objective on Ciena from $405.00 to $490.00 and gave the company an "equal weight" rating in a report on Friday, June 5th. Barclays raised their target price on Ciena from $372.00 to $607.00 and gave the stock an "overweight" rating in a research report on Friday, June 5th. Zacks Research raised Ciena from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 2nd. Needham & Company LLC reiterated a "buy" rating and set a $600.00 price objective on shares of Ciena in a research note on Tuesday, June 23rd. Finally, Bank of America lifted their price objective on Ciena from $550.00 to $660.00 and gave the company a "buy" rating in a report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, Ciena currently has a consensus rating of "Moderate Buy" and an average price target of $530.56.

Ciena News Roundup

Here are the key news stories impacting Ciena this week:

• Positive Sentiment: Ciena’s Blue Planet AI proof of concept with Telefónica Deutschland is being highlighted as a potential catalyst for software growth and enterprise 5G network-slicing opportunities, reinforcing its role in AI-driven network automation. How AI-Driven 5G Network Slicing Positions Ciena for Long-Term Growth
• Positive Sentiment: Several recent articles continue to frame CIEN as an AI infrastructure beneficiary and a growth stock, suggesting investors still see upside tied to demand for networking gear and automation software. Ciena: Successfully Riding The AI-Powered Wave
• Positive Sentiment: Ciena was also included in lists of top-ranked July growth stocks, with AI demand cited as a supportive backdrop for the shares. 5 Top-Ranked Growth Stocks to Buy for July After a Mixed June
• Neutral Sentiment: Ciena named new supply chain and product technology chiefs, a leadership update that may help execution over time but is not an immediate earnings catalyst. Ciena (CIEN) Names New Supply Chain and Product Technology Chiefs
• Neutral Sentiment: CEO Gary B. Smith and CFO Marc Graff disclosed small share sales under pre-arranged 10b5-1 plans; the transactions are worth watching, but they do not necessarily point to a fundamental change in outlook. Ciena Insider Trades
• Negative Sentiment: Some recent commentary warns that after a strong year-to-date run, CIEN may be facing valuation concerns, which can weigh on the stock even when the business outlook remains constructive. Ciena (CIEN) Growth Index Entry Puts Its Valuation Back In Focus

Ciena 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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