Barrow Hanley Mewhinney & Strauss LLC decreased its stake in shares of Ciena Co. (NYSE:CIEN) by 1.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,498,187 shares of the communications equipment provider’s stock after selling 18,321 shares during the period. Barrow Hanley Mewhinney & Strauss LLC owned 0.96% of Ciena worth $50,803,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of CIEN. Advisor Group Inc. lifted its position in Ciena by 3.6% during the 4th quarter. Advisor Group Inc. now owns 12,838 shares of the communications equipment provider’s stock valued at $436,000 after purchasing an additional 444 shares during the period. PNC Financial Services Group Inc. lifted its position in Ciena by 2.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 33,554 shares of the communications equipment provider’s stock valued at $1,139,000 after purchasing an additional 723 shares during the period. Oregon Public Employees Retirement Fund lifted its position in Ciena by 1.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 56,279 shares of the communications equipment provider’s stock valued at $1,908,000 after purchasing an additional 761 shares during the period. Huntington National Bank acquired a new position in Ciena during the 4th quarter valued at about $29,000. Finally, Neuburgh Advisers LLC lifted its position in Ciena by 6.6% during the 4th quarter. Neuburgh Advisers LLC now owns 13,968 shares of the communications equipment provider’s stock valued at $474,000 after purchasing an additional 864 shares during the period. Institutional investors and hedge funds own 93.07% of the company’s stock.

In related news, SVP Jason Phipps sold 1,022 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $38.26, for a total transaction of $39,101.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gary B. Smith sold 9,600 shares of the stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $37.25, for a total value of $357,600.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 199,422 shares of company stock valued at $7,845,059. 1.20% of the stock is owned by company insiders.

Shares of NYSE:CIEN opened at $37.15 on Thursday. The company has a market capitalization of $5.82 billion, a P/E ratio of 33.17, a PEG ratio of 1.46 and a beta of 1.06. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.52 and a current ratio of 2.98. Ciena Co. has a fifty-two week low of $22.99 and a fifty-two week high of $45.70.

Ciena (NYSE:CIEN) last posted its earnings results on Tuesday, March 5th. The communications equipment provider reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. Ciena had a return on equity of 10.73% and a net margin of 5.03%. The business had revenue of $778.53 million during the quarter, compared to analysts’ expectations of $761.62 million. During the same period in the prior year, the business earned $0.15 EPS. Ciena’s revenue for the quarter was up 20.5% compared to the same quarter last year. On average, analysts forecast that Ciena Co. will post 1.53 EPS for the current fiscal year.

A number of research firms have issued reports on CIEN. Piper Jaffray Companies upped their target price on shares of Ciena to $41.00 and gave the company a “neutral” rating in a research report on Tuesday, March 5th. Argus restated an “average” rating and set a $53.00 target price on shares of Ciena in a research report on Wednesday, March 6th. Citigroup upped their target price on shares of Ciena to $50.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Nomura upped their target price on shares of Ciena from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Finally, BMO Capital Markets upped their target price on shares of Ciena from $42.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. Ten equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $41.96.

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Ciena Profile

Ciena Corp. engages in the provision of network and communication infrastructure. It operates through the following segments: Converged Packet Optical; Packet Networking; Optical Transport; and Software and Services. The Converged Packet Optical segment develops and sells optical processors, switching systems, and operating system software.

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Institutional Ownership by Quarter for Ciena (NYSE:CIEN)

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