Rothschild Asset Management Inc. Buys 67,117 Shares of Ciena Corporation (CIEN)
Rothschild Asset Management Inc. boosted its stake in shares of Ciena Corporation (NYSE:CIEN) by 6.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,177,386 shares of the communications equipment provider’s stock after buying an additional 67,117 shares during the quarter. Rothschild Asset Management Inc. owned approximately 0.83% of Ciena Corporation worth $25,867,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Ciena Corporation by 11.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,085 shares of the communications equipment provider’s stock valued at $127,000 after purchasing an additional 517 shares during the period. Fortaleza Asset Management Inc. bought a new stake in Ciena Corporation in the 2nd quarter valued at about $134,000. Advisor Group Inc. increased its position in Ciena Corporation by 6.4% in the 2nd quarter. Advisor Group Inc. now owns 10,011 shares of the communications equipment provider’s stock valued at $151,000 after buying an additional 604 shares in the last quarter. Howe & Rusling Inc. bought a new stake in Ciena Corporation in the 3rd quarter valued at about $158,000. Finally, Acadian Asset Management LLC bought a new stake in Ciena Corporation in the 2nd quarter valued at about $159,000.
Ciena Corporation (NYSE:CIEN) traded up $0.32 during trading hours on Thursday, hitting $20.84. The company’s stock had a trading volume of 1,602,200 shares, compared to its average volume of 3,087,240. The stock has a market capitalization of $3,020.00, a P/E ratio of 14.87, a P/E/G ratio of 0.80 and a beta of 1.64. Ciena Corporation has a 12-month low of $19.40 and a 12-month high of $27.98. The company has a current ratio of 2.92, a quick ratio of 2.50 and a debt-to-equity ratio of 0.99.
Ciena Corporation (NYSE:CIEN) last issued its quarterly earnings data on Thursday, August 31st. The communications equipment provider reported $0.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.02. Ciena Corporation had a return on equity of 25.53% and a net margin of 4.99%. The company had revenue of $728.70 million for the quarter, compared to the consensus estimate of $726.81 million. During the same quarter last year, the business posted $0.42 earnings per share. The firm’s revenue was up 8.7% compared to the same quarter last year. equities analysts forecast that Ciena Corporation will post 1.51 earnings per share for the current year.
A number of analysts recently commented on CIEN shares. Zacks Investment Research lowered Ciena Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, November 15th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $30.00 target price on shares of Ciena Corporation in a research report on Friday, September 1st. BidaskClub lowered Ciena Corporation from a “sell” rating to a “strong sell” rating in a research report on Saturday, November 4th. William Blair reissued a “buy” rating on shares of Ciena Corporation in a report on Thursday, August 3rd. Finally, Citigroup Inc. raised Ciena Corporation from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $23.87 to $29.00 in a report on Wednesday, August 30th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. Ciena Corporation has an average rating of “Buy” and a consensus price target of $29.53.
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In related news, VP Andrew C. Petrik sold 1,251 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $21.60, for a total value of $27,021.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP James Frodsham sold 2,000 shares of the stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $22.00, for a total value of $44,000.00. The disclosure for this sale can be found here. Insiders sold 89,052 shares of company stock worth $1,899,418 in the last quarter. 1.45% of the stock is currently owned by company insiders.
About Ciena Corporation
Ciena Corporation is a network strategy and technology company, which provides solutions that enable a range of network operators to adopt communication architectures and deliver an array of services, relied upon by enterprise and consumer end users. It provides equipment, software and services that support the transport, switching, aggregation, service delivery and management of voice, video and data traffic on communications networks.
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