Boston Partners bought a new position in Ciena Co. (NYSE:CIEN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,482,814 shares of the communications equipment provider’s stock, valued at approximately $31,035,000.

A number of other large investors have also recently made changes to their positions in CIEN. State Street Corp lifted its position in shares of Ciena by 3.9% during the 2nd quarter. State Street Corp now owns 4,648,540 shares of the communications equipment provider’s stock valued at $116,319,000 after buying an additional 172,876 shares in the last quarter. Neuberger Berman Group LLC lifted its position in shares of Ciena by 169.5% during the 3rd quarter. Neuberger Berman Group LLC now owns 4,217,455 shares of the communications equipment provider’s stock valued at $92,657,000 after buying an additional 2,652,791 shares in the last quarter. Schroder Investment Management Group lifted its position in shares of Ciena by 7.2% during the 3rd quarter. Schroder Investment Management Group now owns 2,982,417 shares of the communications equipment provider’s stock valued at $65,822,000 after buying an additional 200,907 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Ciena by 1.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,821,175 shares of the communications equipment provider’s stock valued at $70,588,000 after buying an additional 34,088 shares in the last quarter. Finally, Westfield Capital Management Co. LP lifted its position in shares of Ciena by 21.5% during the 3rd quarter. Westfield Capital Management Co. LP now owns 2,594,285 shares of the communications equipment provider’s stock valued at $56,996,000 after buying an additional 459,190 shares in the last quarter.

A number of research firms have recently weighed in on CIEN. Goldman Sachs Group raised Ciena from a “neutral” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Monday, January 15th. UBS Group lowered their price objective on Ciena from $29.00 to $27.00 and set a “buy” rating on the stock in a research report on Friday, December 8th. BMO Capital Markets lowered their price objective on Ciena to $25.00 and set an “outperform” rating on the stock in a research report on Friday, December 8th. Needham & Company LLC lowered their price objective on Ciena from $26.00 to $24.00 and set a “buy” rating on the stock in a research report on Friday, December 8th. Finally, Raymond James Financial set a $33.00 target price on Ciena and gave the company a “buy” rating in a research note on Thursday, December 7th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twenty have given a buy rating to the company. Ciena presently has a consensus rating of “Buy” and an average target price of $28.48.

Shares of Ciena Co. (CIEN) opened at $22.29 on Thursday. The company has a quick ratio of 1.68, a current ratio of 1.93 and a debt-to-equity ratio of 0.27. Ciena Co. has a 12 month low of $19.40 and a 12 month high of $27.98. The stock has a market capitalization of $3,230.00, a P/E ratio of 3.22, a price-to-earnings-growth ratio of 1.34 and a beta of 1.67.

Ciena (NYSE:CIEN) last released its quarterly earnings data on Thursday, December 7th. The communications equipment provider reported $0.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.04). Ciena had a return on equity of 18.32% and a net margin of 45.04%. The firm had revenue of $744.40 million during the quarter, compared to the consensus estimate of $736.91 million. During the same period in the previous year, the firm earned $0.44 EPS. The business’s revenue was up 3.9% compared to the same quarter last year. sell-side analysts expect that Ciena Co. will post 1 earnings per share for the current year.

Ciena declared that its board has authorized a stock buyback plan on Thursday, December 7th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the communications equipment provider to reacquire shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

In other news, CEO Gary B. Smith sold 113,735 shares of the business’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $21.22, for a total transaction of $2,413,456.70. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO James E. Moylan, Jr. sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, December 28th. The shares were sold at an average price of $21.56, for a total value of $43,120.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 212,743 shares of company stock worth $4,526,441. Corporate insiders own 1.45% of the company’s stock.

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Ciena Company Profile

Ciena Corporation is a network strategy and technology company, which provides solutions that enable a range of network operators to adopt communication architectures and deliver an array of services, relied upon by enterprise and consumer end users. It provides equipment, software and services that support the transport, switching, aggregation, service delivery and management of voice, video and data traffic on communications networks.

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Institutional Ownership by Quarter for Ciena (NYSE:CIEN)

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