First Trust Advisors LP grew its position in shares of Ciena Co. (NYSE:CIEN) by 17.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 181,481 shares of the communications equipment provider’s stock after purchasing an additional 26,973 shares during the quarter. First Trust Advisors LP owned 0.13% of Ciena worth $5,669,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of CIEN. Victory Capital Management Inc. increased its position in shares of Ciena by 89.4% during the 2nd quarter. Victory Capital Management Inc. now owns 2,153,725 shares of the communications equipment provider’s stock valued at $57,095,000 after purchasing an additional 1,016,354 shares during the period. LSV Asset Management increased its position in shares of Ciena by 56.6% during the 2nd quarter. LSV Asset Management now owns 2,734,607 shares of the communications equipment provider’s stock valued at $72,494,000 after purchasing an additional 988,292 shares during the period. Emerald Advisers Inc. PA increased its position in shares of Ciena by 97.2% during the 2nd quarter. Emerald Advisers Inc. PA now owns 1,290,822 shares of the communications equipment provider’s stock valued at $34,220,000 after purchasing an additional 636,313 shares during the period. Emerald Mutual Fund Advisers Trust increased its position in shares of Ciena by 129.3% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 1,109,068 shares of the communications equipment provider’s stock valued at $29,401,000 after purchasing an additional 625,370 shares during the period. Finally, Aperio Group LLC increased its position in shares of Ciena by 88.5% during the 3rd quarter. Aperio Group LLC now owns 834,096 shares of the communications equipment provider’s stock valued at $26,057,000 after purchasing an additional 391,506 shares during the period.

A number of equities analysts recently issued reports on the company. Zacks Investment Research restated a “hold” rating on shares of Ciena in a report on Monday, November 12th. Stifel Nicolaus assumed coverage on Ciena in a report on Tuesday, October 23rd. They issued a “buy” rating and a $35.00 target price on the stock. Northland Securities cut Ciena from an “outperform” rating to a “market perform” rating in a report on Monday, October 1st. UBS Group cut Ciena from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $29.50 to $33.00 in a report on Wednesday, September 26th. Finally, Morgan Stanley cut Ciena from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $30.00 to $32.00 in a report on Thursday, September 13th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $32.74.

In other news, CEO Gary B. Smith sold 9,600 shares of the firm’s stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $27.17, for a total value of $260,832.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP James E. Moylan, Jr. sold 2,000 shares of the firm’s stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $27.14, for a total value of $54,280.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,875 shares of company stock valued at $2,748,252. 1.38% of the stock is currently owned by insiders.

Shares of Ciena stock opened at $33.69 on Monday. The firm has a market capitalization of $4.80 billion, a PE ratio of 32.09, a price-to-earnings-growth ratio of 1.47 and a beta of 1.21. The company has a quick ratio of 1.76, a current ratio of 1.97 and a debt-to-equity ratio of 0.33. Ciena Co. has a 12 month low of $19.99 and a 12 month high of $35.04.

Ciena (NYSE:CIEN) last issued its earnings results on Thursday, August 30th. The communications equipment provider reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.12. The business had revenue of $818.82 million during the quarter, compared to analysts’ expectations of $792.28 million. Ciena had a return on equity of 8.56% and a net margin of 25.56%. Ciena’s revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.51 earnings per share. As a group, analysts predict that Ciena Co. will post 1.1 earnings per share for the current fiscal year.

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About Ciena

Ciena Corporation provides hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of voice, video, and data traffic on communications networks worldwide. The company's Networking Platforms segment offers hardware networking solutions 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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