Orange Investment Advisors Inc. Has $14.70 Million Stake in Ciena Corporation $CIEN

Orange Investment Advisors Inc. reduced its position in shares of Ciena Corporation (NYSE:CIEN) by 24.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,872 shares of the communications equipment provider’s stock after selling 11,996 shares during the quarter. Ciena accounts for approximately 1.9% of Orange Investment Advisors Inc.’s investment portfolio, making the stock its 13th biggest holding. Orange Investment Advisors Inc.’s holdings in Ciena were worth $14,703,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CIEN. SmartHarvest Portfolios LLC grew its position in shares of Ciena by 1.8% in the 1st quarter. SmartHarvest Portfolios LLC now owns 1,142 shares of the communications equipment provider’s stock valued at $443,000 after acquiring an additional 20 shares during the period. Parallel Advisors LLC increased its stake in shares of Ciena by 0.8% during the 4th quarter. Parallel Advisors LLC now owns 5,107 shares of the communications equipment provider’s stock worth $1,194,000 after purchasing an additional 43 shares during the last quarter. Transamerica Financial Advisors LLC raised its holdings in shares of Ciena by 71.0% in the 4th quarter. Transamerica Financial Advisors LLC now owns 106 shares of the communications equipment provider’s stock valued at $25,000 after purchasing an additional 44 shares during the period. UMB Bank n.a. raised its holdings in shares of Ciena by 2.9% in the 4th quarter. UMB Bank n.a. now owns 1,629 shares of the communications equipment provider’s stock valued at $381,000 after purchasing an additional 46 shares during the period. Finally, Truvestments Capital LLC lifted its stake in Ciena by 45.3% in the 4th quarter. Truvestments Capital LLC now owns 154 shares of the communications equipment provider’s stock valued at $36,000 after purchasing an additional 48 shares during the last quarter. 91.99% of the stock is owned by institutional investors.

Insider Transactions at Ciena

In related news, SVP Jason Phipps sold 22,014 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $409.80, for a total value of $9,021,337.20. Following the transaction, the senior vice president directly owned 68 shares in the company, valued at approximately $27,866.40. This represents a 99.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Marc D. Graff sold 126 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $449.36, for a total transaction of $56,619.36. Following the transaction, the chief financial officer directly owned 127,081 shares in the company, valued at approximately $57,105,118.16. This represents a 0.10% 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 sold a total of 40,500 shares of company stock worth $18,381,089 over the last ninety days. Corporate insiders own 0.58% of the company’s stock.

Analysts Set New Price Targets

CIEN has been the subject of a number of research analyst reports. Zacks Research cut Ciena from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 3rd. Stifel Nicolaus set a $615.00 price objective on Ciena in a research note on Friday, May 29th. Raymond James Financial raised their price objective on Ciena from $320.00 to $530.00 and gave the company an “outperform” rating in a research report on Thursday, June 4th. Rothschild & Co Redburn began coverage on Ciena in a research note on Friday, May 1st. They set a “neutral” rating and a $416.00 target price for the company. Finally, Wolfe Research reissued an “outperform” rating and set a $375.00 target price on shares of Ciena in a report on Thursday, March 5th. Thirteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $530.56.

Ciena Stock Up 0.4%

Shares of CIEN opened at $481.36 on Monday. The firm’s 50-day simple moving average is $518.53 and its 200 day simple moving average is $382.67. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.11 and a current ratio of 2.73. The firm has a market cap of $68.14 billion, a P/E ratio of 160.45 and a beta of 1.24. Ciena Corporation has a 52 week low of $76.89 and a 52 week high of $637.51.

Ciena (NYSE:CIEN) last posted its earnings results on Thursday, June 4th. The communications equipment provider reported $1.64 EPS for the quarter, beating the consensus estimate of $1.46 by $0.18. Ciena had a return on equity of 18.15% and a net margin of 7.87%.The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the business earned $0.42 earnings per share. The firm’s revenue for the quarter was up 39.5% on a year-over-year basis. On average, analysts forecast that Ciena Corporation will post 5.4 earnings per share for the current year.

Ciena 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.