Titan Global Capital Management USA LLC Buys Shares of 110,395 Ciena Corporation $CIEN

Key Points

• Titan Global Capital Management USA LLC purchased 110,395 shares of Ciena Corporation, valuing the investment at approximately $6.67 million, making it the firm's 20th largest position.
• Ciena reported a revenue of $1.13 billion for the latest quarter, exceeding analysts' expectations, although its earnings per share fell short at $0.42.
• Institutional investors hold 91.99% of Ciena's stock, with several firms increasing their stakes significantly in the first quarter, indicating strong institutional confidence in the company.

Titan Global Capital Management USA LLC bought a new stake in Ciena Corporation (NYSE:CIEN - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 110,395 shares of the communications equipment provider's stock, valued at approximately $6,671,000. Ciena comprises approximately 1.4% of Titan Global Capital Management USA LLC's investment portfolio, making the stock its 20th biggest position. Titan Global Capital Management USA LLC owned 0.08% of Ciena as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. EntryPoint Capital LLC increased its stake in shares of Ciena by 125.8% in the first quarter. EntryPoint Capital LLC now owns 10,770 shares of the communications equipment provider's stock valued at $651,000 after buying an additional 6,001 shares during the period. Hsbc Holdings PLC boosted its position in shares of Ciena by 153.2% during the first quarter. Hsbc Holdings PLC now owns 49,184 shares of the communications equipment provider's stock valued at $2,941,000 after buying an additional 29,758 shares during the last quarter. Raymond James Financial Inc. boosted its position in shares of Ciena by 1.2% during the first quarter. Raymond James Financial Inc. now owns 488,162 shares of the communications equipment provider's stock valued at $29,500,000 after buying an additional 5,682 shares during the last quarter. American Century Companies Inc. lifted its holdings in Ciena by 9.5% during the first quarter. American Century Companies Inc. now owns 48,976 shares of the communications equipment provider's stock worth $2,960,000 after acquiring an additional 4,265 shares during the period. Finally, Ethic Inc. lifted its holdings in Ciena by 49.4% during the first quarter. Ethic Inc. now owns 12,809 shares of the communications equipment provider's stock worth $788,000 after acquiring an additional 4,238 shares during the period. Institutional investors and hedge funds own 91.99% of the company's stock.

Ciena Trading Up 0.8%

CIEN opened at $87.3120 on Friday. The stock has a market cap of $12.34 billion, a PE ratio of 121.27, a PEG ratio of 1.94 and a beta of 1.11. The company has a quick ratio of 2.57, a current ratio of 3.40 and a debt-to-equity ratio of 0.55. The business has a 50 day moving average of $84.70 and a 200-day moving average of $76.76. Ciena Corporation has a 52 week low of $49.21 and a 52 week high of $101.44.

Ciena (NYSE:CIEN - Get Free Report) last posted its quarterly earnings data on Thursday, June 5th. The communications equipment provider reported $0.42 earnings per share for the quarter, missing analysts' consensus estimates of $0.50 by ($0.08). Ciena had a net margin of 2.46% and a return on equity of 5.08%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period last year, the business earned $0.27 EPS. The firm's quarterly revenue was up 23.6% on a year-over-year basis. Ciena has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities research analysts predict that Ciena Corporation will post 1.6 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CIEN has been the topic of several research reports. UBS Group boosted their target price on Ciena from $73.00 to $78.00 and gave the company a "neutral" rating in a research note on Friday, June 6th. Morgan Stanley restated an "underweight" rating and issued a $70.00 target price (down from $73.00) on shares of Ciena in a research note on Tuesday, July 8th. Needham & Company LLC reissued a "buy" rating and issued a $90.00 price target on shares of Ciena in a research note on Friday, June 6th. Wolfe Research upgraded Ciena to a "strong-buy" rating in a research report on Tuesday, July 8th. Finally, Evercore ISI restated a "mixed" rating on shares of Ciena in a research report on Friday, June 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $85.54.

Insider Transactions at Ciena

In other Ciena news, SVP Brodie Gage sold 350 shares of the business's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $90.94, for a total transaction of $31,829.00. Following the completion of the sale, the senior vice president owned 43,268 shares of the company's stock, valued at approximately $3,934,791.92. The trade was a 0.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Joseph Cumello sold 2,044 shares of the business's stock in a transaction dated 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 of the company's stock, valued at $3,853,244.72. This represents a 4.15% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,969 shares of company stock worth $2,694,781. 0.93% of the stock is currently owned by insiders.

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.

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