Ciena Corporation $CIEN Stock: Robeco Institutional Asset Management B.V. Grows Stake

Robeco Institutional Asset Management B.V. boosted its position in Ciena Corporation (NYSE:CIEN) by 4.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 332,271 shares of the communications equipment provider’s stock after buying an additional 12,986 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Ciena were worth $116,900,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of New York Mellon Corp bought a new position in Ciena during the second quarter valued at approximately $404,948,000. Hsbc Holdings PLC lifted its holdings in shares of Ciena by 309.8% in the 1st quarter. Hsbc Holdings PLC now owns 223,203 shares of the communications equipment provider’s stock worth $86,509,000 after acquiring an additional 168,736 shares during the last quarter. E20 Capital Ltd bought a new stake in shares of Ciena in the 1st quarter worth approximately $41,676,000. Ardmore Road Asset Management LP bought a new stake in shares of Ciena in the 1st quarter worth approximately $35,329,000. Finally, Nykredit A S purchased a new stake in shares of Ciena in the 2nd quarter valued at $33,013,000. Hedge funds and other institutional investors own 91.99% of the company’s stock.

Ciena Price Performance

CIEN stock opened at $361.11 on Thursday. The firm’s 50-day moving average price is $372.85 and its two-hundred day moving average price is $439.35. Ciena Corporation has a 12-month low of $159.56 and a 12-month high of $637.51. The stock has a market capitalization of $51.21 billion, a price-to-earnings ratio of 80.60, a PEG ratio of 4.75 and a beta of 1.28. The company has a current ratio of 3.80, a quick ratio of 3.17 and a debt-to-equity ratio of 1.06.

Ciena (NYSE:CIEN) last posted its earnings results on Thursday, September 3rd. The communications equipment provider reported $2.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.38. The company had revenue of $1.67 billion during 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 revenue for the quarter was up 37.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.35 earnings per share. As a group, equities analysts predict that Ciena Corporation will post 6.00 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CIEN shares. B. Riley Financial reduced their target price on shares of Ciena from $516.00 to $413.00 and set a “neutral” rating on the stock in a report on Monday, August 31st. Citigroup reiterated a “buy” rating on shares of Ciena in a research report on Friday, September 4th. JPMorgan Chase & Co. lowered their price target on shares of Ciena from $635.00 to $605.00 and set an “overweight” rating for the company in a research note on Friday, September 4th. Barclays upped their price target on shares of Ciena from $475.00 to $548.00 and gave the company an “overweight” rating in a research report on Thursday, September 17th. Finally, Bank of America restated a “buy” rating on shares of Ciena in a research report on Thursday, August 20th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $506.11.

Insider Buying and Selling at Ciena

In other news, Director Bruce Claflin sold 2,857 shares of Ciena stock in a transaction that occurred on 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 sale, the director directly owned 8,279 shares in the company, valued at approximately $2,946,578.89. This trade represents a 25.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gary Smith sold 2,952 shares of Ciena stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $330.18, for a total value of $974,691.36. Following the completion of the sale, the chief executive officer owned 240,126 shares in the company, valued at approximately $79,284,802.68. This represents a 1.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 36,014 shares of company stock worth $13,457,571 over the last three months. 0.58% of the stock is owned by corporate insiders.

Ciena Company Profile

Ciena Corporation (NYSE: CIEN) is a networking technology company that provides hardware, software, and services for communications networks. Its solutions help telecommunications carriers, cloud providers, enterprises, government organizations, and research institutions build, manage, and automate high-capacity networks.

The company’s portfolio includes optical networking systems, routing and switching platforms, network automation software, and network management tools. Ciena also offers consulting, implementation, maintenance, and professional services designed to support network planning, deployment, optimization, and ongoing operations.