Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Ciena Co. (NYSE:CIEN) by 6.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 23,403 shares of the communications equipment provider’s stock after buying an additional 1,457 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Ciena were worth $929,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of CIEN. Steward Partners Investment Advisory LLC grew its holdings in shares of Ciena by 64.3% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 562 shares of the communications equipment provider’s stock valued at $30,000 after acquiring an additional 220 shares in the last quarter. Toronto Dominion Bank purchased a new position in Ciena in the second quarter valued at about $34,000. Copper Rock Capital Partners LLC acquired a new position in Ciena in the 3rd quarter worth about $34,000. Global Retirement Partners LLC raised its stake in shares of Ciena by 39.6% during the 3rd quarter. Global Retirement Partners LLC now owns 942 shares of the communications equipment provider’s stock worth $37,000 after purchasing an additional 267 shares in the last quarter. Finally, CSat Investment Advisory L.P. lifted its holdings in shares of Ciena by 47.0% during the 2nd quarter. CSat Investment Advisory L.P. now owns 744 shares of the communications equipment provider’s stock valued at $40,000 after buying an additional 238 shares during the last quarter. 81.63% of the stock is owned by institutional investors.

NYSE:CIEN opened at $42.10 on Friday. The firm’s 50-day moving average is $41.51 and its 200-day moving average is $49.70. The company has a market cap of $6.50 billion, a price-to-earnings ratio of 17.47, a PEG ratio of 1.19 and a beta of 0.83. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.06 and a current ratio of 3.56. Ciena Co. has a 52-week low of $30.58 and a 52-week high of $61.51.

Ciena (NYSE:CIEN) last issued its quarterly earnings results on Thursday, September 3rd. The communications equipment provider reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.23. Ciena had a return on equity of 17.93% and a net margin of 10.26%. The firm had revenue of $976.70 million for the quarter, compared to analyst estimates of $974.49 million. During the same period in the previous year, the company posted $0.71 earnings per share. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. Equities analysts predict that Ciena Co. will post 2.62 EPS for the current year.

CIEN has been the topic of several recent research reports. Citigroup reduced their target price on shares of Ciena from $65.00 to $55.00 and set a “buy” rating for the company in a research note on Friday, September 4th. Barclays decreased their price objective on shares of Ciena from $67.00 to $54.00 and set an “overweight” rating for the company in a report on Friday, September 4th. B. Riley cut their target price on Ciena from $50.00 to $46.00 in a report on Friday, September 4th. Zacks Investment Research downgraded Ciena from a “hold” rating to a “sell” rating and set a $41.00 price target for the company. in a research note on Thursday, September 24th. Finally, Wolfe Research began coverage on Ciena in a research note on Friday, July 24th. They issued an “outperform” rating on the stock. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and seventeen have assigned a buy rating to the stock. Ciena currently has an average rating of “Buy” and an average price target of $53.14.

In other Ciena news, SVP Stephen B. Alexander sold 2,500 shares of the business’s stock in a transaction on Monday, November 16th. The stock was sold at an average price of $43.76, for a total value of $109,400.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Gary B. Smith sold 4,250 shares of Ciena stock in a transaction dated Tuesday, September 29th. The shares were sold at an average price of $40.07, for a total value of $170,297.50. The disclosure for this sale can be found here. Insiders sold 33,595 shares of company stock valued at $1,444,784 over the last 90 days. 1.20% of the stock is currently owned by corporate insiders.

Ciena Company Profile

Ciena Corporation provides network hardware, software, and services that support the transport, 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 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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