Foundations Investment Advisors LLC Purchases 11,437 Shares of Ciena Corporation $CIEN

Foundations Investment Advisors LLC increased its position in shares of Ciena Corporation (NYSE:CIEN) by 4.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 258,283 shares of the communications equipment provider’s stock after purchasing an additional 11,437 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Ciena were worth $60,405,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Jacobs Levy Equity Management Inc. acquired a new position in Ciena during the first quarter worth about $395,000. Jones Financial Companies Lllp raised its stake in Ciena by 139.6% during the first quarter. Jones Financial Companies Lllp now owns 5,253 shares of the communications equipment provider’s stock worth $317,000 after acquiring an additional 3,061 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Ciena by 1.4% during the first quarter. Goldman Sachs Group Inc. now owns 222,054 shares of the communications equipment provider’s stock worth $13,419,000 after acquiring an additional 3,117 shares in the last quarter. Focus Partners Wealth raised its stake in Ciena by 14.6% during the first quarter. Focus Partners Wealth now owns 5,762 shares of the communications equipment provider’s stock worth $348,000 after acquiring an additional 733 shares in the last quarter. Finally, Franklin Resources Inc. acquired a new position in Ciena during the second quarter worth about $234,000. Institutional investors own 91.99% of the company’s stock.

Insider Activity at Ciena

In related news, SVP Jason Phipps sold 22,014 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $409.80, for a total value of $9,021,337.20. Following the sale, the senior vice president directly owned 68 shares in the company, valued at $27,866.40. This represents a 99.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Brodie Gage sold 1,200 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $570.65, for a total value of $684,780.00. Following the transaction, the senior vice president owned 43,941 shares in the company, valued at $25,074,931.65. The trade was a 2.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 44,174 shares of company stock worth $18,878,661 over the last ninety days. Insiders own 0.58% of the company’s stock.

Ciena Stock Performance

Shares of CIEN stock opened at $580.90 on Thursday. The business’s 50 day simple moving average is $492.80 and its 200 day simple moving average is $337.45. Ciena Corporation has a one year low of $70.77 and a one year high of $605.61. The stock has a market capitalization of $82.14 billion, a PE ratio of 370.00, a PEG ratio of 1.97 and a beta of 1.24. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.81 and a quick ratio of 2.14.

Ciena (NYSE:CIEN) last announced its earnings results on Thursday, March 5th. The communications equipment provider reported $1.35 EPS for the quarter, beating the consensus estimate of $1.17 by $0.18. Ciena had a return on equity of 12.09% and a net margin of 4.47%.The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the prior year, the business posted $0.64 earnings per share. The firm’s revenue was up 33.1% on a year-over-year basis. As a group, research analysts forecast that Ciena Corporation will post 5.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on CIEN shares. Wolfe Research reissued an “outperform” rating and set a $375.00 target price on shares of Ciena in a research note on Thursday, March 5th. Citigroup boosted their target price on Ciena from $345.00 to $658.00 and gave the stock a “buy” rating in a research note on Monday, May 18th. Weiss Ratings raised Ciena from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, April 27th. Needham & Company LLC boosted their target price on Ciena from $280.00 to $370.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Finally, Stifel Nicolaus boosted their target price on Ciena from $430.00 to $585.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $404.94.

Ciena Company Profile

Ciena Corporation (NYSE: CIEN) is a global supplier of telecommunications networking equipment, software and services. The company develops high-capacity optical transport systems and packet-optical platforms that enable service providers, cloud operators and large enterprises to build, manage and scale their networks. Ciena’s product portfolio includes coherent optical solutions, packet networking platforms and a suite of network automation software designed to optimize bandwidth, reduce latency and simplify network operations.

In addition to hardware offerings, Ciena provides professional services and support, including network design, implementation and ongoing maintenance.