18,858 Shares of Ciena Corporation $CIEN Bought by Calamos Wealth Management LLC

Calamos Wealth Management LLC bought a new position in shares of Ciena Corporation (NYSE:CIEN) in the third quarter, Holdings Channel reports. The institutional investor bought 18,858 shares of the communications equipment provider’s stock, valued at approximately $6,635,000.

A number of other hedge funds have also made changes to their positions in CIEN. Swiss National Bank boosted its holdings in shares of Ciena by 7.0% in the 1st quarter. Swiss National Bank now owns 413,332 shares of the communications equipment provider’s stock worth $160,468,000 after acquiring an additional 26,900 shares in the last quarter. Wealth High Governance Capital Ltda bought a new stake in Ciena during the 1st quarter worth approximately $10,883,000. Fifth Third Bancorp increased its holdings in Ciena by 983.2% during the 1st quarter. Fifth Third Bancorp now owns 17,168 shares of the communications equipment provider’s stock valued at $6,665,000 after purchasing an additional 15,583 shares in the last quarter. Plato Investment Management Ltd acquired a new stake in Ciena during the 2nd quarter valued at $2,124,000. Finally, Groupe la Francaise acquired a new stake in Ciena during the 2nd quarter valued at $11,911,000. Institutional investors and hedge funds own 91.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CIEN. Needham & Company LLC reiterated a “buy” rating and issued a $520.00 price objective on shares of Ciena in a research report on Thursday, September 17th. Barclays increased their target price on Ciena from $475.00 to $548.00 and gave the stock an “overweight” rating in a report on Thursday, September 17th. Bank of America restated a “buy” rating and issued a $550.00 target price (down from $660.00) on shares of Ciena in a research note on Thursday, August 20th. CL King set a $347.00 price target on Ciena in a report on Friday, September 4th. Finally, UBS Group reduced their price target on shares of Ciena from $508.00 to $394.00 and set a “neutral” rating on the stock in a research report on Friday, September 4th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $485.93.

Insider Buying and Selling

In other news, CFO Marc D. Graff sold 97 shares of the company’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $355.19, for a total transaction of $34,453.43. Following the transaction, the chief financial officer owned 107,136 shares of the company’s stock, valued at $38,053,635.84. This represents a 0.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jason Phipps sold 2,629 shares of the firm’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $355.19, for a total value of $933,794.51. Following the completion of the transaction, the executive vice president owned 57,388 shares in the company, valued at approximately $20,383,643.72. This represents a 4.38% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 36,014 shares of company stock worth $13,216,540. 0.58% of the stock is currently owned by company insiders.

Ciena Price Performance

Shares of CIEN traded up $12.12 during mid-day trading on Friday, hitting $242.93. 4,717,091 shares of the company traded hands, compared to its average volume of 3,292,244. The company has a current ratio of 3.80, a quick ratio of 3.17 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $34.45 billion, a price-to-earnings ratio of 54.23, a PEG ratio of 2.28 and a beta of 1.33. The business has a 50-day moving average of $350.63 and a 200 day moving average of $402.53. Ciena Corporation has a one year low of $168.22 and a one year high of $637.51.

Ciena (NYSE:CIEN) last posted its quarterly earnings data on Thursday, September 3rd. The communications equipment provider reported $2.11 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.38. Ciena had a net margin of 10.87% and a return on equity of 25.33%. The firm had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter in the previous year, the company posted $0.35 EPS. Ciena’s revenue was up 37.0% on a year-over-year basis. As a group, equities analysts expect that Ciena Corporation will post 6.00 earnings per share for the current fiscal year.

Ciena Company Profile

Ciena is a communications networking company that develops equipment, software and services used to build and manage telecommunications networks. Its offerings support the movement of data across fiber-optic, subsea and other network infrastructure.

The company’s products include optical transport systems, routing and switching equipment, and software for network automation and management. Ciena also provides consulting, implementation and support services to help customers plan, deploy and operate their networks.

Founded in 1992 and headquartered in Hanover, Maryland, Ciena serves communications service providers, governments, enterprises and other organizations around the world.