Ciena Corporation $CIEN Stock Acquired by Vontobel Holding Ltd.

Vontobel Holding Ltd. lifted its holdings in Ciena Corporation (NYSE:CIEN) by 8.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 31,473 shares of the communications equipment provider’s stock after buying an additional 2,387 shares during the quarter. Vontobel Holding Ltd.’s holdings in Ciena were worth $11,073,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. TD Waterhouse Canada Inc. raised its holdings in Ciena by 1.7% during the third quarter. TD Waterhouse Canada Inc. now owns 13,964 shares of the communications equipment provider’s stock worth $5,306,000 after purchasing an additional 231 shares in the last quarter. Shelton Wealth Management LLC purchased a new position in Ciena in the 3rd quarter worth about $267,000. Pension & Wealth Management Advisors Inc. acquired a new stake in shares of Ciena during the third quarter valued at approximately $659,000. V Square Quantitative Management LLC raised its stake in Ciena by 34.7% during the 3rd quarter. V Square Quantitative Management LLC now owns 1,483 shares of the communications equipment provider’s stock valued at $522,000 after purchasing an additional 382 shares during the period. Finally, AdvisorNet Financial Inc lifted its stake in Ciena by 20.2% in the 3rd quarter. AdvisorNet Financial Inc now owns 601 shares of the communications equipment provider’s stock worth $216,000 after acquiring an additional 101 shares in the last quarter. Institutional investors and hedge funds own 91.99% of the company’s stock.

Ciena Price Performance

NYSE CIEN opened at $331.73 on Friday. The company has a quick ratio of 3.17, a current ratio of 3.80 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $47.04 billion, a PE ratio of 74.05, a price-to-earnings-growth ratio of 4.62 and a beta of 1.28. The company has a 50 day moving average price of $376.08 and a two-hundred day moving average price of $440.27. Ciena Corporation has a 12-month low of $159.56 and a 12-month high of $637.51.

Ciena (NYSE:CIEN) last announced its quarterly earnings results on Thursday, September 3rd. The communications equipment provider reported $2.11 EPS for the quarter, topping the consensus estimate of $1.73 by $0.38. The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.64 billion. Ciena had a net margin of 10.87% and a return on equity of 25.33%. Ciena’s quarterly revenue was up 37.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.35 EPS. As a group, equities analysts predict that Ciena Corporation will post 6.00 earnings per share for the current fiscal year.

Insider Transactions at Ciena

In other Ciena news, CFO Marc D. Graff sold 97 shares of the firm’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $355.19, for a total transaction of $34,453.43. Following the transaction, the chief financial officer directly owned 107,136 shares in the company, valued at $38,053,635.84. This trade represents a 0.09% decrease in their ownership of the stock. The transaction was disclosed in a filing 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, Director Bruce Claflin sold 2,857 shares of the business’s stock in a transaction dated Thursday, September 24th. The stock was sold at an average price of $355.91, for a total value of $1,016,834.87. Following the completion of the sale, the director directly owned 8,279 shares of the company’s stock, valued at $2,946,578.89. This represents a 25.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 31,862 shares of company stock valued at $12,017,320 in the last three months. 0.58% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CIEN. Wall Street Zen lowered shares of Ciena from a “buy” rating to a “hold” rating in a research note on Saturday. Raymond James Financial reiterated an “outperform” rating and set a $600.00 price objective on shares of Ciena in a report on Thursday, September 3rd. Evercore upgraded Ciena from an “in-line” rating to an “outperform” rating and set a $550.00 price objective for the company in a report on Monday, September 21st. Zacks Research raised Ciena from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 9th. Finally, Bank of America restated a “buy” rating on shares of Ciena in a research note on Thursday, August 20th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $506.11.

Ciena Company Profile

Ciena Corporation is a networking technology company that provides communications infrastructure, software and services for telecommunications providers, cloud operators, enterprises, governments and research institutions. Its solutions are designed to help organizations build, manage and automate high-capacity networks that support applications such as cloud computing, broadband connectivity, data center interconnection and 5G services.

The company’s portfolio includes optical networking systems and coherent optical technologies, routing and switching platforms, broadband access solutions, network management software and professional services.