Ciena Corporation $CIEN Shares Sold by SkyOak Wealth LLC

SkyOak Wealth LLC lessened its position in shares of Ciena Corporation (NYSE:CIEN) by 20.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,675 shares of the communications equipment provider’s stock after selling 1,475 shares during the quarter. SkyOak Wealth LLC’s holdings in Ciena were worth $2,203,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CIEN. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Ciena by 10.7% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 321,825 shares of the communications equipment provider’s stock worth $124,942,000 after purchasing an additional 31,098 shares during the last quarter. Resona Asset Management Co. Ltd. boosted its position in Ciena by 4.9% in the first quarter. Resona Asset Management Co. Ltd. now owns 42,648 shares of the communications equipment provider’s stock valued at $16,372,000 after buying an additional 1,993 shares during the last quarter. Cvfg LLC acquired a new position in Ciena in the 1st quarter worth approximately $5,363,000. Flatrock Wealth Partners LLC acquired a new position in Ciena in the 1st quarter worth approximately $1,945,000. Finally, Resonant Capital Advisors LLC increased its holdings in Ciena by 19.3% in the 1st quarter. Resonant Capital Advisors LLC now owns 1,077 shares of the communications equipment provider’s stock worth $418,000 after buying an additional 174 shares during the period. 91.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Gary B. Smith sold 2,952 shares of Ciena stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $468.83, for a total value of $1,383,986.16. Following the completion of the transaction, the chief executive officer owned 254,886 shares in the company, valued at $119,498,203.38. The trade was a 1.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jason Phipps sold 2,629 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $466.20, for a total value of $1,225,639.80. Following the completion of the transaction, the senior vice president directly owned 62,382 shares of the company’s stock, valued at $29,082,488.40. The trade was a 4.04% decrease in their position. 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 sold 22,827 shares of company stock worth $11,541,133. 0.58% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have commented on the stock. Raymond James Financial lifted their price objective on shares of Ciena from $320.00 to $530.00 and gave the company an “outperform” rating in a research note on Thursday, June 4th. Stifel Nicolaus set a $615.00 price objective on shares of Ciena in a research note on Friday, May 29th. Rothschild & Co Redburn started coverage on shares of Ciena in a research note on Friday, May 1st. They issued a “neutral” rating and a $416.00 price objective on the stock. Barclays raised their target price on shares of Ciena from $372.00 to $607.00 and gave the stock an “overweight” rating in a report on Friday, June 5th. Finally, Needham & Company LLC restated a “buy” rating and set a $600.00 target price on shares of Ciena in a research report on Tuesday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $530.56.

Ciena Stock Performance

Shares of NYSE CIEN opened at $461.13 on Friday. The company’s fifty day moving average price is $508.61 and its 200 day moving average price is $397.18. Ciena Corporation has a 1 year low of $76.89 and a 1 year high of $637.51. The company has a market capitalization of $65.27 billion, a PE ratio of 153.71 and a beta of 1.27. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.11 and a current ratio of 2.73.

Ciena (NYSE:CIEN) last released its quarterly earnings data on Thursday, June 4th. The communications equipment provider reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.18. The company had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Ciena had a net margin of 7.87% and a return on equity of 18.15%. The firm’s revenue for the quarter was up 39.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.42 earnings per share. On average, research analysts predict that Ciena Corporation will post 5.4 earnings per share for the current year.

Key Headlines Impacting Ciena

Here are the key news stories impacting Ciena this week:

• Positive Sentiment: Ciena and Telefónica Deutschland said they are using AI agents to speed up 5G network slicing, highlighting Ciena’s role in helping carriers automate and monetize advanced network services. Ciena and Telefónica Deutschland Use AI Agents to Speed Up 5G Network Slicing
• Positive Sentiment: Ciena unveiled a 1.6 Tb/s coherent pluggable solution aimed at hyperscale cloud providers, a sign the company is expanding its data-center and high-bandwidth connectivity portfolio. Ciena Unveils 1.6 Tb/s Coherent Pluggable Solution for Hyperscale Cloud Providers’ Capacity Surge
• Positive Sentiment: Blue Planet introduced Configuration and Change Management, which supports Ciena’s software-led automation strategy and could strengthen its enterprise and service-provider offerings. Ciena Corporation (CIEN)’s Blue Planet Division Introduced Blue Planet Configuration and Change Management
• Neutral Sentiment: A Zacks roundup highlighted CIEN as one of several liquid, efficient stocks with growth potential, reinforcing a generally constructive view but without new company-specific catalysts. Bet on 4 Top-Performing Liquid Stocks to Maximize Portfolio Returns
• Neutral Sentiment: Coverage on how Ciena is scaling its data-center connectivity portfolio adds visibility to its growth strategy, though it does not appear to be a direct earnings or guidance update. How is Ciena Scaling Its Data Center Connectivity Portfolio?
• Negative Sentiment: Recent insider sale headlines from Jason Phipps and CEO Gary Smith may create some caution, although the reported share sales were relatively small and are not necessarily a bearish signal on fundamentals. Jason Phipps Sells 2,629 Shares of Ciena (NYSE:CIEN) Stock Gary Smith Sells 2,952 Shares of Ciena (NYSE:CIEN) Stock

Ciena Company 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.