Ciena Corporation $CIEN Shares Acquired by SBI Securities Co. Ltd.

SBI Securities Co. Ltd. lifted its stake in shares of Ciena Corporation (NYSE:CIEN) by 410.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,052 shares of the communications equipment provider’s stock after buying an additional 1,650 shares during the quarter. SBI Securities Co. Ltd.’s holdings in Ciena were worth $480,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in CIEN. Lone Pine Capital LLC acquired a new stake in shares of Ciena during the third quarter worth approximately $292,310,000. Atreides Management LP acquired a new stake in shares of Ciena during the second quarter worth approximately $102,705,000. JPMorgan Chase & Co. grew its position in shares of Ciena by 23.3% during the third quarter. JPMorgan Chase & Co. now owns 6,462,840 shares of the communications equipment provider’s stock worth $941,451,000 after buying an additional 1,219,787 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Ciena by 2,174.2% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,143,855 shares of the communications equipment provider’s stock worth $166,625,000 after buying an additional 1,093,557 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its position in shares of Ciena by 3,577.9% during the second quarter. Balyasny Asset Management L.P. now owns 1,032,393 shares of the communications equipment provider’s stock worth $83,965,000 after buying an additional 1,004,323 shares in the last quarter. Institutional investors and hedge funds own 91.99% of the company’s stock.

Ciena Stock Performance

Shares of CIEN opened at $546.61 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.81 and a quick ratio of 2.14. The stock has a market capitalization of $77.29 billion, a PE ratio of 348.16, a price-to-earnings-growth ratio of 1.76 and a beta of 1.24. Ciena Corporation has a 12-month low of $70.77 and a 12-month high of $583.78. The business’s fifty day moving average price is $427.16 and its 200 day moving average price is $299.27.

Ciena (NYSE:CIEN) last posted its earnings results on Thursday, March 5th. The communications equipment provider reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.18. The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Ciena had a return on equity of 12.09% and a net margin of 4.47%.The firm’s quarterly revenue was up 33.1% compared to the same quarter last year. During the same period last year, the business posted $0.64 earnings per share. Equities research analysts forecast that Ciena Corporation will post 5.12 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CIEN. Barclays raised their price objective on Ciena from $279.00 to $372.00 and gave the stock an “overweight” rating in a research note on Friday, March 6th. Bank of America raised their price objective on Ciena from $355.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Citigroup raised their price objective on Ciena from $280.00 to $345.00 and gave the stock a “buy” rating in a research note on Friday, March 6th. Rothschild & Co Redburn began coverage on Ciena in a research note on Friday, May 1st. They set a “neutral” rating and a $416.00 price objective on the stock. Finally, Weiss Ratings upgraded Ciena from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $367.56.

Insider Buying and Selling at Ciena

In other Ciena news, SVP Brodie Gage sold 1,200 shares of the firm’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $471.79, for a total value of $566,148.00. Following the sale, the senior vice president directly owned 45,141 shares in the company, valued at approximately $21,297,072.39. This trade represents a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gary B. Smith sold 2,952 shares of the firm’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $537.74, for a total value of $1,587,408.48. Following the completion of the sale, the chief executive officer owned 275,461 shares in the company, valued at $148,126,398.14. The trade was a 1.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 42,974 shares of company stock worth $17,418,863. 0.58% of the stock is owned by insiders.

Ciena Profile

Ciena Corporation (NYSE: CIEN) is a global supplier of telecommunications networking equipment, software and services. The company develops high-capacity optical transport systems and packet-optical platforms that enable service providers, cloud operators and large enterprises to build, manage and scale their networks. Ciena’s product portfolio includes coherent optical solutions, packet networking platforms and a suite of network automation software designed to optimize bandwidth, reduce latency and simplify network operations.

In addition to hardware offerings, Ciena provides professional services and support, including network design, implementation and ongoing maintenance.