Macquarie Group Ltd. increased its holdings in shares of Ciena Co. (NYSE:CIEN) by 5.1% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 151,073 shares of the communications equipment provider’s stock after purchasing an additional 7,324 shares during the quarter. Macquarie Group Ltd.’s holdings in Ciena were worth $4,005,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Point72 Asset Management L.P. increased its position in Ciena by 36.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,054,600 shares of the communications equipment provider’s stock worth $27,957,000 after purchasing an additional 280,693 shares in the last quarter. Capital Fund Management S.A. increased its position in Ciena by 42.3% during the 2nd quarter. Capital Fund Management S.A. now owns 96,750 shares of the communications equipment provider’s stock worth $2,565,000 after purchasing an additional 28,763 shares in the last quarter. OppenheimerFunds Inc. increased its position in Ciena by 12.7% during the 2nd quarter. OppenheimerFunds Inc. now owns 34,120 shares of the communications equipment provider’s stock worth $905,000 after purchasing an additional 3,843 shares in the last quarter. Federated Investors Inc. PA increased its position in Ciena by 47.2% during the 2nd quarter. Federated Investors Inc. PA now owns 174,993 shares of the communications equipment provider’s stock worth $4,639,000 after purchasing an additional 56,105 shares in the last quarter. Finally, Cortina Asset Management LLC acquired a new stake in Ciena during the 2nd quarter worth approximately $216,000.

CIEN has been the subject of a number of research analyst reports. ValuEngine raised shares of Ciena from a “hold” rating to a “buy” rating in a research report on Friday, August 17th. Loop Capital restated a “buy” rating and issued a $36.00 price target on shares of Ciena in a report on Thursday, August 30th. Deutsche Bank upped their price target on Ciena from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Friday, August 31st. B. Riley upped their price target on Ciena from $31.50 to $36.00 and gave the stock a “buy” rating in a report on Friday, August 31st. Finally, Zacks Investment Research upgraded Ciena from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a report on Wednesday, September 5th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and seventeen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $32.57.

Ciena stock opened at $30.89 on Thursday. The company has a market cap of $4.47 billion, a PE ratio of 29.83, a price-to-earnings-growth ratio of 1.85 and a beta of 1.36. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.97 and a quick ratio of 1.76. Ciena Co. has a 52 week low of $19.40 and a 52 week high of $32.33.

Ciena (NYSE:CIEN) last released its earnings results on Thursday, August 30th. The communications equipment provider reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.12. The company had revenue of $818.82 million during the quarter, compared to analysts’ expectations of $792.28 million. Ciena had a return on equity of 8.56% and a net margin of 25.56%. The business’s revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.51 EPS. analysts forecast that Ciena Co. will post 1.09 earnings per share for the current year.

In other news, SVP James E. Moylan, Jr. sold 2,000 shares of the stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $31.75, for a total transaction of $63,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gary B. Smith sold 8,000 shares of the stock in a transaction that occurred on Thursday, July 12th. The shares were sold at an average price of $27.30, for a total value of $218,400.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 67,312 shares of company stock valued at $1,948,590. Company insiders own 1.38% of the company’s stock.

Ciena Company Profile

Ciena Corporation provides hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of voice, video, and data traffic on communications networks worldwide. The company's Networking Platforms segment offers hardware networking solutions optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching.

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Institutional Ownership by Quarter for Ciena (NYSE:CIEN)

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