Ontario Teachers Pension Plan Board Takes Position in Ciena Co. (NYSE:CIEN)

Ontario Teachers Pension Plan Board purchased a new stake in Ciena Co. (NYSE:CIEN) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,587 shares of the communications equipment provider’s stock, valued at approximately $209,000.

A number of other institutional investors have also bought and sold shares of the business. Oakbrook Investments LLC raised its stake in Ciena by 4.1% in the first quarter. Oakbrook Investments LLC now owns 10,100 shares of the communications equipment provider’s stock valued at $377,000 after buying an additional 400 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in Ciena by 29.6% in the first quarter. Parkside Financial Bank & Trust now owns 1,789 shares of the communications equipment provider’s stock valued at $67,000 after buying an additional 409 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Ciena by 1.7% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,339 shares of the communications equipment provider’s stock valued at $946,000 after buying an additional 426 shares in the last quarter. Advisor Group Inc. raised its stake in Ciena by 3.6% in the fourth quarter. Advisor Group Inc. now owns 12,838 shares of the communications equipment provider’s stock valued at $436,000 after buying an additional 444 shares in the last quarter. Finally, Campbell Newman Asset Management Inc. raised its stake in Ciena by 2.5% in the first quarter. Campbell Newman Asset Management Inc. now owns 20,889 shares of the communications equipment provider’s stock valued at $780,000 after buying an additional 510 shares in the last quarter. Institutional investors own 92.80% of the company’s stock.

In related news, SVP Stephen B. Alexander sold 2,500 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $39.36, for a total value of $98,400.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Gary B. Smith sold 9,600 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $39.49, for a total value of $379,104.00. The disclosure for this sale can be found here. Insiders sold a total of 116,004 shares of company stock worth $4,309,357 in the last 90 days. 1.20% of the stock is currently owned by insiders.

A number of analysts have recently commented on the company. Morgan Stanley set a $41.00 target price on Ciena and gave the stock a “hold” rating in a research report on Friday, June 7th. MKM Partners lifted their target price on Ciena to $54.00 and gave the stock a “buy” rating in a research report on Friday, June 7th. B. Riley lifted their target price on Ciena from $48.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, June 7th. Nomura lifted their target price on Ciena from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, June 7th. Finally, Raymond James lifted their target price on Ciena from $48.00 to $53.00 and gave the stock an “outperform” rating in a research report on Friday, June 7th. 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. The stock has a consensus rating of “Buy” and an average price target of $45.83.

CIEN stock traded down $0.91 during trading on Wednesday, hitting $43.11. The company had a trading volume of 60,405 shares, compared to its average volume of 2,741,082. The stock has a market capitalization of $6.93 billion, a PE ratio of 38.63, a price-to-earnings-growth ratio of 1.76 and a beta of 1.06. Ciena Co. has a 1-year low of $24.53 and a 1-year high of $46.23. The company has a quick ratio of 2.36, a current ratio of 2.83 and a debt-to-equity ratio of 0.33.

Ciena (NYSE:CIEN) last issued its quarterly earnings results on Thursday, June 6th. The communications equipment provider reported $0.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.07. The firm had revenue of $865.00 million for the quarter, compared to analysts’ expectations of $818.23 million. Ciena had a return on equity of 12.37% and a net margin of 5.98%. The firm’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.23 EPS. Analysts expect that Ciena Co. will post 1.53 earnings per share for the current fiscal year.

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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.

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Institutional Ownership by Quarter for Ciena (NYSE:CIEN)

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