AT Bancorp trimmed its stake in Ciena Co. (NYSE:CIEN) by 7.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 70,962 shares of the communications equipment provider’s stock after selling 5,826 shares during the period. AT Bancorp’s holdings in Ciena were worth $1,485,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Ciena by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 12,466,282 shares of the communications equipment provider’s stock worth $311,906,000 after purchasing an additional 203,112 shares during the period. California Public Employees Retirement System boosted its stake in Ciena by 3.8% during the 2nd quarter. California Public Employees Retirement System now owns 304,070 shares of the communications equipment provider’s stock worth $7,608,000 after purchasing an additional 11,100 shares during the period. Advisor Group Inc. boosted its stake in Ciena by 6.4% during the 2nd quarter. Advisor Group Inc. now owns 10,011 shares of the communications equipment provider’s stock worth $151,000 after purchasing an additional 604 shares during the period. Parametric Portfolio Associates LLC boosted its stake in Ciena by 15.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 187,277 shares of the communications equipment provider’s stock worth $4,686,000 after purchasing an additional 25,663 shares during the period. Finally, Teachers Retirement System of The State of Kentucky boosted its stake in Ciena by 17.2% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 28,002 shares of the communications equipment provider’s stock worth $701,000 after purchasing an additional 4,100 shares during the period.

Shares of Ciena Co. (NYSE:CIEN) opened at $22.70 on Wednesday. Ciena Co. has a 52 week low of $19.40 and a 52 week high of $27.98. The company has a market cap of $3,260.00, a price-to-earnings ratio of 3.28, a PEG ratio of 1.41 and a beta of 1.67. The company has a quick ratio of 1.68, a current ratio of 1.93 and a debt-to-equity ratio of 0.27.

Ciena (NYSE:CIEN) last released its earnings results on Thursday, December 7th. The communications equipment provider reported $0.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.04). Ciena had a return on equity of 18.32% and a net margin of 45.04%. The firm had revenue of $744.40 million during the quarter, compared to analyst estimates of $736.91 million. During the same quarter last year, the business posted $0.44 EPS. The firm’s revenue was up 3.9% on a year-over-year basis. equities research analysts expect that Ciena Co. will post 1 earnings per share for the current fiscal year.

Ciena announced that its Board of Directors has approved a stock buyback plan on Thursday, December 7th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the communications equipment provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

In related news, CEO Gary B. Smith sold 6,000 shares of the firm’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $20.09, for a total value of $120,540.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Rick Hamilton sold 2,526 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $21.40, for a total transaction of $54,056.40. The disclosure for this sale can be found here. Insiders sold a total of 218,743 shares of company stock valued at $4,646,981 in the last 90 days. Company insiders own 1.45% of the company’s stock.

A number of analysts recently weighed in on CIEN shares. Zacks Investment Research cut shares of Ciena from a “hold” rating to a “sell” rating in a research note on Wednesday, November 15th. B. Riley decreased their price target on shares of Ciena from $30.50 to $28.00 and set a “buy” rating for the company in a research note on Tuesday, December 5th. BidaskClub cut shares of Ciena from a “sell” rating to a “strong sell” rating in a research note on Saturday, November 4th. Goldman Sachs Group upgraded shares of Ciena from a “neutral” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Monday, January 15th. Finally, William Blair reiterated a “buy” rating on shares of Ciena in a research note on Monday, November 13th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twenty have assigned a buy rating to the company. Ciena has a consensus rating of “Buy” and an average target price of $28.48.

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Ciena Profile

Ciena Corporation is a network strategy and technology company, which provides solutions that enable a range of network operators to adopt communication architectures and deliver an array of services, relied upon by enterprise and consumer end users. It provides equipment, software and services that support the transport, switching, aggregation, service delivery and management of voice, video and data traffic on communications networks.

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Institutional Ownership by Quarter for Ciena (NYSE:CIEN)

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