Rothschild Investment LLC Has $1.78 Million Stock Position in Ciena Co. (NYSE:CIEN)

Rothschild Investment LLC raised its holdings in Ciena Co. (NYSE:CIEN - Free Report) by 38.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 29,453 shares of the communications equipment provider's stock after buying an additional 8,189 shares during the period. Rothschild Investment LLC's holdings in Ciena were worth $1,780,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CIEN. Vanguard Group Inc. grew its stake in Ciena by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 15,316,640 shares of the communications equipment provider's stock valued at $1,299,004,000 after purchasing an additional 139,941 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Ciena by 0.3% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,236,920 shares of the communications equipment provider's stock valued at $444,143,000 after buying an additional 17,447 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Ciena by 195.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,626,153 shares of the communications equipment provider's stock valued at $392,345,000 after buying an additional 3,062,883 shares in the last quarter. Bank of America Corp DE increased its holdings in Ciena by 1.6% during the fourth quarter. Bank of America Corp DE now owns 3,227,020 shares of the communications equipment provider's stock worth $273,684,000 after buying an additional 49,996 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Ciena by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 2,419,947 shares of the communications equipment provider's stock worth $205,301,000 after acquiring an additional 11,933 shares in the last quarter. 91.99% of the stock is owned by institutional investors.

Insider Transactions at Ciena

In other news, SVP Brodie Gage sold 350 shares of the business's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $78.67, for a total transaction of $27,534.50. Following the completion of the transaction, the senior vice president now owns 46,233 shares of the company's stock, valued at approximately $3,637,150.11. The trade was a 0.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gary B. Smith sold 6,800 shares of Ciena stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $79.89, for a total value of $543,252.00. Following the completion of the transaction, the chief executive officer now owns 362,080 shares in the company, valued at approximately $28,926,571.20. This represents a 1.84% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,788 shares of company stock valued at $3,431,319. 0.93% of the stock is owned by corporate insiders.

Ciena Price Performance

Ciena stock traded up $1.55 during mid-day trading on Tuesday, reaching $83.30. 2,690,205 shares of the company were exchanged, compared to its average volume of 2,034,468. The firm has a market cap of $11.84 billion, a PE ratio of 146.13, a PEG ratio of 1.54 and a beta of 1.11. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.55 and a quick ratio of 2.72. The company has a fifty day simple moving average of $68.73 and a 200-day simple moving average of $75.65. Ciena Co. has a 12 month low of $44.69 and a 12 month high of $101.44.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CIEN. Citigroup decreased their price objective on shares of Ciena from $98.00 to $75.00 and set a "buy" rating for the company in a research report on Monday, April 14th. JPMorgan Chase & Co. lifted their price target on Ciena from $76.00 to $86.00 and gave the stock an "overweight" rating in a report on Tuesday, May 27th. Needham & Company LLC lowered their price target on Ciena from $95.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, March 12th. Barclays set a $100.00 price objective on Ciena and gave the company an "overweight" rating in a research report on Wednesday, March 12th. Finally, B. Riley reissued a "buy" rating and set a $89.00 target price (down from $97.00) on shares of Ciena in a report on Wednesday, March 12th. Four 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 company. According to data from MarketBeat, Ciena has a consensus rating of "Moderate Buy" and a consensus target price of $81.23.

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.