Ciena Corporation $CIEN Stock Holdings Increased by Vise Technologies Inc.

Vise Technologies Inc. grew its holdings in Ciena Corporation (NYSE:CIEN) by 53.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 7,254 shares of the communications equipment provider’s stock after purchasing an additional 2,532 shares during the quarter. Vise Technologies Inc.’s holdings in Ciena were worth $2,552,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CIEN. Bank of New York Mellon Corp bought a new position in shares of Ciena during the 2nd quarter valued at $404,948,000. Swiss National Bank lifted its stake in shares of Ciena by 7.0% in the 1st quarter. Swiss National Bank now owns 413,332 shares of the communications equipment provider’s stock valued at $160,468,000 after purchasing an additional 26,900 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Ciena by 10.7% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 321,825 shares of the communications equipment provider’s stock worth $124,942,000 after purchasing an additional 31,098 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in Ciena by 4.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 332,271 shares of the communications equipment provider’s stock worth $116,900,000 after purchasing an additional 12,986 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Ciena by 24.5% in the third quarter. Assenagon Asset Management S.A. now owns 266,384 shares of the communications equipment provider’s stock worth $93,719,000 after purchasing an additional 52,382 shares in the last quarter. Institutional investors and hedge funds own 91.99% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on CIEN shares. UBS Group cut their target price on Ciena from $508.00 to $394.00 and set a “neutral” rating on the stock in a report on Friday, September 4th. TD Cowen reiterated a “buy” rating on shares of Ciena in a research note on Thursday, September 17th. Needham & Company LLC reissued a “buy” rating and set a $520.00 price objective on shares of Ciena in a report on Thursday, September 17th. Zacks Research raised Ciena from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 9th. Finally, Rothschild & Co Redburn reduced their target price on Ciena from $538.43 to $406.81 and set a “neutral” rating for the company in a report on Monday, September 14th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $485.93.

Ciena Price Performance

Shares of NYSE:CIEN opened at $271.47 on Thursday. The business has a 50 day moving average price of $357.30 and a 200 day moving average price of $402.59. Ciena Corporation has a twelve month low of $168.22 and a twelve month high of $637.51. The company has a market cap of $38.50 billion, a price-to-earnings ratio of 60.60, a PEG ratio of 2.41 and a beta of 1.33. The company has a quick ratio of 3.17, a current ratio of 3.80 and a debt-to-equity ratio of 1.06.

Ciena (NYSE:CIEN) last released its earnings results on Thursday, September 3rd. The communications equipment provider reported $2.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.38. The firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.64 billion. Ciena had a return on equity of 25.33% and a net margin of 10.87%. The company’s revenue was up 37.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.35 EPS. Research analysts predict that Ciena Corporation will post 6.00 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Marc Graff sold 97 shares of the business’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $355.19, for a total transaction of $34,453.43. Following the transaction, the chief financial officer owned 107,136 shares of the company’s stock, valued at approximately $38,053,635.84. The trade was a 0.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Brodie Gage sold 1,200 shares of the business’s stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $344.08, for a total transaction of $412,896.00. Following the transaction, the executive vice president directly owned 34,073 shares in the company, valued at $11,723,837.84. This trade represents a 3.40% decrease in their position. 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 a total of 36,014 shares of company stock valued at $13,216,540 in the last 90 days. 0.58% of the stock is currently owned by corporate insiders.

About Ciena

Ciena Corporation (NYSE: CIEN) is a networking technology company that provides hardware, software, and services for communications networks. Its solutions help telecommunications carriers, cloud providers, enterprises, government organizations, and research institutions build, manage, and automate high-capacity networks.

The company’s portfolio includes optical networking systems, routing and switching platforms, network automation software, and network management tools. Ciena also offers consulting, implementation, maintenance, and professional services designed to support network planning, deployment, optimization, and ongoing operations.