Cetera Advisors LLC Acquires Shares of 6,269 Ciena Co. (CIEN)

Cetera Advisors LLC acquired a new stake in Ciena Co. (NYSE:CIEN) during the 1st quarter, HoldingsChannel.com reports. The fund acquired 6,269 shares of the communications equipment provider’s stock, valued at approximately $235,000.

Other large investors have also added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund raised its position in Ciena by 3,337.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,908,421 shares of the communications equipment provider’s stock valued at $56,000 after purchasing an additional 1,852,903 shares during the last quarter. Norges Bank bought a new position in Ciena in the fourth quarter valued at about $59,613,000. BlackRock Inc. raised its position in Ciena by 9.6% in the fourth quarter. BlackRock Inc. now owns 17,899,503 shares of the communications equipment provider’s stock valued at $606,974,000 after purchasing an additional 1,561,445 shares during the last quarter. Wedge Capital Management L L P NC raised its position in Ciena by 4,444.8% in the first quarter. Wedge Capital Management L L P NC now owns 1,040,039 shares of the communications equipment provider’s stock valued at $38,835,000 after purchasing an additional 1,017,155 shares during the last quarter. Finally, Sadoff Investment Management LLC bought a new position in Ciena in the fourth quarter valued at about $31,984,000. 94.44% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director Thomas Michael Nevens sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $34.24, for a total transaction of $239,680.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP James E. Moylan, Jr. sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $33.37, for a total value of $66,740.00. The disclosure for this sale can be found here. Insiders have sold 188,174 shares of company stock valued at $7,264,959 in the last ninety days. 1.20% of the stock is currently owned by insiders.



Several equities analysts have commented on CIEN shares. Jefferies Financial Group increased their target price on Ciena from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, January 22nd. ValuEngine upgraded Ciena from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, January 22nd. Bank of America downgraded Ciena from a “buy” rating to a “neutral” rating and set a $42.00 target price for the company. in a research report on Wednesday, January 30th. They noted that the move was a valuation call. Zacks Investment Research upgraded Ciena from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research report on Tuesday, February 5th. Finally, Piper Jaffray Companies raised their price objective on Ciena to $41.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Ciena currently has an average rating of “Buy” and a consensus target price of $42.13.

NYSE CIEN opened at $34.86 on Wednesday. Ciena Co. has a one year low of $22.99 and a one year high of $45.70. The company has a market cap of $5.40 billion, a P/E ratio of 31.13, a price-to-earnings-growth ratio of 1.35 and a beta of 1.02. The company has a quick ratio of 2.52, a current ratio of 2.98 and a debt-to-equity ratio of 0.33.

Ciena (NYSE:CIEN) last released its earnings results on Tuesday, March 5th. The communications equipment provider reported $0.27 EPS for the quarter, topping the consensus estimate of $0.21 by $0.06. Ciena had a return on equity of 10.73% and a net margin of 5.03%. The business had revenue of $778.53 million during the quarter, compared to analysts’ expectations of $761.62 million. During the same quarter last year, the firm posted $0.15 earnings per share. The firm’s revenue was up 20.5% on a year-over-year basis. As a group, research analysts predict that Ciena Co. will post 1.53 EPS for the current fiscal year.

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Ciena Company Profile

Ciena Corporation provides network hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of video, data, and voice traffic on communications networks worldwide. The company's Networking Platforms segment offers hardware networking solutions optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching.

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Institutional Ownership by Quarter for Ciena (NYSE:CIEN)

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