Ciena Co. (NYSE:CIEN) Shares Bought by FDx Advisors Inc.


Share on StockTwits

FDx Advisors Inc. boosted its position in shares of Ciena Co. (NYSE:CIEN) by 17.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,475 shares of the communications equipment provider’s stock after buying an additional 1,411 shares during the quarter. FDx Advisors Inc.’s holdings in Ciena were worth $518,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Harbour Capital Advisors LLC grew its position in Ciena by 2.2% during the first quarter. Harbour Capital Advisors LLC now owns 43,273 shares of the communications equipment provider’s stock valued at $2,368,000 after buying an additional 915 shares during the period. HighPoint Advisor Group LLC lifted its holdings in Ciena by 5.9% during the first quarter. HighPoint Advisor Group LLC now owns 8,959 shares of the communications equipment provider’s stock valued at $506,000 after purchasing an additional 500 shares in the last quarter. Hohimer Wealth Management LLC lifted its holdings in Ciena by 19.9% during the first quarter. Hohimer Wealth Management LLC now owns 54,667 shares of the communications equipment provider’s stock valued at $2,991,000 after purchasing an additional 9,087 shares in the last quarter. Carroll Financial Associates Inc. lifted its holdings in Ciena by 1,153.8% during the first quarter. Carroll Financial Associates Inc. now owns 489 shares of the communications equipment provider’s stock valued at $26,000 after purchasing an additional 450 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC purchased a new position in Ciena during the fourth quarter valued at $258,000. Institutional investors own 83.98% of the company’s stock.

Shares of CIEN opened at $54.17 on Wednesday. Ciena Co. has a 1-year low of $38.03 and a 1-year high of $61.51. The stock has a market cap of $8.40 billion, a PE ratio of 23.35, a P/E/G ratio of 1.41 and a beta of 0.85. The firm has a 50-day simple moving average of $54.60 and a two-hundred day simple moving average of $49.93. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.43 and a quick ratio of 2.98.

Ciena (NYSE:CIEN) last announced its quarterly earnings results on Wednesday, March 3rd. The communications equipment provider reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.07. Ciena had a net margin of 10.23% and a return on equity of 17.41%. The business had revenue of $757.10 million during the quarter, compared to analysts’ expectations of $750.24 million. During the same period last year, the business earned $0.52 earnings per share. The business’s revenue for the quarter was down 9.1% on a year-over-year basis. As a group, sell-side analysts expect that Ciena Co. will post 2.36 earnings per share for the current fiscal year.

Several equities analysts have issued reports on the stock. Citigroup increased their price objective on shares of Ciena from $55.00 to $65.00 in a report on Thursday, February 25th. Colliers Securities reaffirmed a “buy” rating and set a $58.00 price objective on shares of Ciena in a report on Friday, March 5th. Rosenblatt Securities increased their price objective on shares of Ciena from $45.00 to $50.00 and gave the company a “neutral” rating in a report on Monday, March 8th. Bank of America raised shares of Ciena from a “neutral” rating to a “buy” rating and raised their price target for the stock from $49.00 to $65.00 in a research note on Thursday, January 21st. Finally, Raymond James raised their price target on shares of Ciena from $52.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, March 4th. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $59.08.

In related news, SVP Rick Hamilton sold 9,678 shares of Ciena stock in a transaction that occurred on Friday, February 5th. The shares were sold at an average price of $55.28, for a total value of $534,999.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Andrew C. Petrik sold 1,000 shares of Ciena stock in a transaction that occurred on Thursday, April 15th. The shares were sold at an average price of $56.25, for a total transaction of $56,250.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,190 shares of company stock valued at $2,448,902. Company insiders own 0.95% of the company’s stock.

Ciena Company Profile

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

Featured Story: What sectors are represented in the Hang Seng index?

Want to see what other hedge funds are holding CIEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ciena Co. (NYSE:CIEN).

Institutional Ownership by Quarter for Ciena (NYSE:CIEN)

Receive News & Ratings for Ciena Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ciena and related companies with MarketBeat.com's FREE daily email newsletter.