Raymond James Financial Inc. Buys 5,682 Shares of Ciena Corporation $CIEN

Key Points

• Raymond James Financial Inc. increased its stake in Ciena Corporation by 1.2%, acquiring an additional 5,682 shares and holding a total of 488,162 shares, valued at approximately $29.5 million.
• Ciena reported a 23.6% year-over-year revenue increase to $1.13 billion for the recent quarter, although earnings per share fell short of analysts' expectations.
• Several institutional investors have significantly increased their holdings in Ciena, with institutional ownership now at 91.99%, reflecting continued interest from the investment community.

Raymond James Financial Inc. lifted its stake in Ciena Corporation (NYSE:CIEN - Free Report) by 1.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 488,162 shares of the communications equipment provider's stock after buying an additional 5,682 shares during the period. Raymond James Financial Inc. owned about 0.34% of Ciena worth $29,500,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Orion Capital Management LLC acquired a new position in Ciena in the fourth quarter worth about $42,000. Bessemer Group Inc. raised its position in Ciena by 50.0% in the first quarter. Bessemer Group Inc. now owns 534 shares of the communications equipment provider's stock worth $32,000 after purchasing an additional 178 shares in the last quarter. Bayforest Capital Ltd raised its position in Ciena by 34.7% in the first quarter. Bayforest Capital Ltd now owns 636 shares of the communications equipment provider's stock worth $38,000 after purchasing an additional 164 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in Ciena by 66.7% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 640 shares of the communications equipment provider's stock worth $39,000 after purchasing an additional 256 shares in the last quarter. Finally, AdvisorNet Financial Inc raised its position in Ciena by 9,162.5% in the first quarter. AdvisorNet Financial Inc now owns 741 shares of the communications equipment provider's stock worth $45,000 after purchasing an additional 733 shares in the last quarter. Institutional investors own 91.99% of the company's stock.

Ciena Price Performance

Shares of CIEN stock traded down $4.15 during trading hours on Friday, reaching $93.74. 1,196,224 shares of the company were exchanged, compared to its average volume of 2,244,958. Ciena Corporation has a fifty-two week low of $49.21 and a fifty-two week high of $101.44. The stock's fifty day moving average is $86.61 and its two-hundred day moving average is $76.83. The company has a market cap of $13.25 billion, a price-to-earnings ratio of 130.25, a P/E/G ratio of 2.07 and a beta of 1.11. 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 (NYSE:CIEN - Get Free Report) last announced its earnings results on Thursday, June 5th. The communications equipment provider reported $0.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.08). The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.09 billion. Ciena had a return on equity of 5.08% and a net margin of 2.46%.Ciena's revenue for the quarter was up 23.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.27 earnings per share. Ciena has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Sell-side analysts forecast that Ciena Corporation will post 1.6 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Joseph Cumello sold 2,044 shares of the business's stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $81.64, for a total transaction of $166,872.16. Following the completion of the transaction, the senior vice president owned 47,198 shares in the company, valued at approximately $3,853,244.72. The trade was a 4.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jason Phipps sold 2,325 shares of the business's stock in a transaction that occurred 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 transaction, the senior vice president owned 84,833 shares of the company's stock, valued at approximately $6,829,056.50. This represents a 2.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,969 shares of company stock worth $2,694,781 in the last ninety days. Company insiders own 0.93% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CIEN. Wall Street Zen lowered shares of Ciena from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. Northland Securities set a $100.00 price target on shares of Ciena in a research report on Monday, June 30th. B. Riley reaffirmed a "buy" rating and set a $90.00 price objective (up from $89.00) on shares of Ciena in a research note on Friday, June 6th. Evercore ISI reaffirmed a "mixed" rating on shares of Ciena in a research note on Friday, June 6th. Finally, Morgan Stanley reaffirmed an "underweight" rating and set a $70.00 price objective (down from $73.00) on shares of Ciena in a research note on Tuesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $86.69.

Ciena Company 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.