Duality Advisers LP Acquires Shares of 31,306 Ciena Co. (NYSE:CIEN)

Duality Advisers LP bought a new position in Ciena Co. (NYSE:CIEN) in the 2nd quarter, according to its most recent disclosure with the SEC. The firm bought 31,306 shares of the communications equipment provider’s stock, valued at approximately $1,696,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC lifted its stake in shares of Ciena by 605.3% in the 1st quarter. FMR LLC now owns 1,249,825 shares of the communications equipment provider’s stock valued at $46,669,000 after purchasing an additional 1,072,632 shares during the period. Advisors Asset Management Inc. lifted its position in Ciena by 191.3% during the fourth quarter. Advisors Asset Management Inc. now owns 4,996 shares of the communications equipment provider’s stock valued at $213,000 after buying an additional 3,281 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of Ciena by 66.4% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 27,302 shares of the communications equipment provider’s stock valued at $1,175,000 after buying an additional 10,892 shares in the last quarter. Macquarie Group Ltd. grew its position in shares of Ciena by 309.3% in the 4th quarter. Macquarie Group Ltd. now owns 539,602 shares of the communications equipment provider’s stock worth $23,035,000 after buying an additional 407,764 shares during the period. Finally, Norges Bank purchased a new stake in shares of Ciena in the 4th quarter worth about $86,193,000. 88.44% of the stock is currently owned by hedge funds and other institutional investors.

NYSE CIEN opened at $59.51 on Friday. The company has a 50-day moving average price of $54.50 and a 200-day moving average price of $47.00. Ciena Co. has a 52 week low of $30.58 and a 52 week high of $59.82. The company has a quick ratio of 2.83, a current ratio of 3.28 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $9.13 billion, a P/E ratio of 29.03, a PEG ratio of 1.43 and a beta of 0.89.

Ciena (NYSE:CIEN) last announced its earnings results on Thursday, June 4th. The communications equipment provider reported $0.76 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.27. The business had revenue of $894.00 million during the quarter, compared to analysts’ expectations of $889.42 million. Ciena had a net margin of 8.78% and a return on equity of 16.18%. The firm’s revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.48 earnings per share. As a group, equities research analysts anticipate that Ciena Co. will post 2.6 EPS for the current year.

A number of equities research analysts have weighed in on CIEN shares. Nomura upped their price objective on shares of Ciena from $46.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, June 5th. Cowen reaffirmed a “buy” rating and set a $73.00 price objective on shares of Ciena in a research report on Wednesday, June 24th. Wolfe Research assumed coverage on Ciena in a report on Friday, July 24th. They issued an “outperform” rating on the stock. MKM Partners raised their price target on Ciena from $54.00 to $62.00 and gave the company a “buy” rating in a report on Friday, May 22nd. Finally, Morgan Stanley upped their price target on shares of Ciena from $47.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Friday, June 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eighteen have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $56.71.

In other Ciena news, CEO Gary B. Smith sold 4,250 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $52.76, for a total value of $224,230.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Patrick H. Nettles sold 20,000 shares of the stock in a transaction on Monday, July 27th. The stock was sold at an average price of $58.61, for a total transaction of $1,172,200.00. The disclosure for this sale can be found here. Insiders have sold 145,100 shares of company stock worth $7,995,960 over the last quarter. 1.20% of the stock is owned by company insiders.

About Ciena

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.

See Also: Buyback

Institutional Ownership by Quarter for Ciena (NYSE:CIEN)

Receive News & Ratings for Ciena Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ciena and related companies with MarketBeat.com's FREE daily email newsletter.