Harbour Capital Advisors LLC Increases Stake in Ciena Co. (NYSE:CIEN)


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Harbour Capital Advisors LLC raised its position in Ciena Co. (NYSE:CIEN) by 2.2% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 43,273 shares of the communications equipment provider’s stock after purchasing an additional 915 shares during the period. Harbour Capital Advisors LLC’s holdings in Ciena were worth $2,368,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in Ciena by 8.9% in the 4th quarter. BlackRock Inc. now owns 14,792,049 shares of the communications equipment provider’s stock valued at $781,761,000 after purchasing an additional 1,206,685 shares in the last quarter. Primecap Management Co. CA raised its holdings in shares of Ciena by 32.3% during the 4th quarter. Primecap Management Co. CA now owns 113,510 shares of the communications equipment provider’s stock worth $5,999,000 after acquiring an additional 27,700 shares during the period. Voloridge Investment Management LLC purchased a new position in shares of Ciena during the 3rd quarter worth $7,170,000. GoalVest Advisory LLC purchased a new position in shares of Ciena during the 4th quarter worth $2,189,000. Finally, Engineers Gate Manager LP raised its holdings in shares of Ciena by 132.0% during the 3rd quarter. Engineers Gate Manager LP now owns 21,231 shares of the communications equipment provider’s stock worth $843,000 after acquiring an additional 12,081 shares during the period. Institutional investors own 83.98% of the company’s stock.

CIEN stock traded down $0.02 on Tuesday, reaching $56.18. 5,135 shares of the company’s stock were exchanged, compared to its average volume of 1,385,506. The stock has a fifty day moving average of $54.08 and a 200-day moving average of $49.27. Ciena Co. has a twelve month low of $38.03 and a twelve month high of $61.51. The firm has a market cap of $8.71 billion, a PE ratio of 24.22, a P/E/G ratio of 1.41 and a beta of 0.85. The company has a quick ratio of 2.98, a current ratio of 3.43 and a debt-to-equity ratio of 0.27.

Ciena (NYSE:CIEN) last announced its quarterly earnings data on Wednesday, March 3rd. The communications equipment provider reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.07. Ciena had a return on equity of 17.41% and a net margin of 10.23%. The firm had revenue of $757.10 million for the quarter, compared to analyst estimates of $750.24 million. During the same quarter in the prior year, the company posted $0.52 earnings per share. Ciena’s quarterly revenue was down 9.1% on a year-over-year basis. On average, equities research analysts predict that Ciena Co. will post 2.36 EPS for the current fiscal year.

Several research firms have recently commented on CIEN. Bank of America upgraded Ciena from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $49.00 to $65.00 in a report on Thursday, January 21st. Rosenblatt Securities lifted their price target on Ciena from $45.00 to $50.00 and gave the stock a “neutral” rating in a report on Monday, March 8th. Morgan Stanley boosted their price objective on shares of Ciena from $46.00 to $50.00 and gave the company an “equal weight” rating in a report on Tuesday, December 15th. Needham & Company LLC boosted their price objective on shares of Ciena from $58.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, January 13th. Finally, Citigroup boosted their price objective on shares of Ciena from $55.00 to $65.00 in a report on Thursday, February 25th. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Ciena presently has an average rating of “Buy” and an average price target of $59.08.

In other Ciena news, CEO Gary B. Smith sold 3,125 shares of the company’s stock in a transaction on Tuesday, March 23rd. The stock was sold at an average price of $54.69, for a total value of $170,906.25. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO James E. Moylan, Jr. sold 2,000 shares of the company’s stock in a transaction on Monday, January 25th. The shares were sold at an average price of $55.65, for a total value of $111,300.00. Insiders sold 39,065 shares of company stock worth $2,104,621 in the last three months. 0.95% of the stock is owned by corporate insiders.

Ciena Company Profile

Ciena Corporation provides network hardware, software, and services that support the transport, routing, 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 products and solutions that 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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