Rothschild Investment LLC Trims Stake in Ciena Corporation $CIEN

Rothschild Investment LLC trimmed its holdings in Ciena Corporation (NYSE:CIEN) by 45.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,948 shares of the communications equipment provider’s stock after selling 13,515 shares during the quarter. Rothschild Investment LLC’s holdings in Ciena were worth $2,323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Ciena by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 15,088,445 shares of the communications equipment provider’s stock valued at $1,227,143,000 after purchasing an additional 103,199 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Ciena by 23.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,462,840 shares of the communications equipment provider’s stock worth $941,451,000 after purchasing an additional 1,219,787 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Ciena by 10.4% in the second quarter. Bank of America Corp DE now owns 3,495,795 shares of the communications equipment provider’s stock worth $284,313,000 after purchasing an additional 329,821 shares during the last quarter. Senvest Management LLC lifted its holdings in shares of Ciena by 12.4% during the second quarter. Senvest Management LLC now owns 1,655,012 shares of the communications equipment provider’s stock valued at $134,602,000 after purchasing an additional 182,900 shares in the last quarter. Finally, Atreides Management LP bought a new position in shares of Ciena during the second quarter valued at $102,705,000. Hedge funds and other institutional investors own 91.99% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on CIEN. UBS Group upped their target price on shares of Ciena from $120.00 to $230.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. B. Riley Financial reissued a “neutral” rating on shares of Ciena in a report on Friday, December 12th. Northland Securities set a $190.00 target price on Ciena and gave the stock a “market perform” rating in a research report on Friday, December 12th. Wall Street Zen lowered Ciena from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 21st. Finally, Zacks Research downgraded shares of Ciena from a “strong-buy” rating to a “hold” rating in a report on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $241.67.

Insider Activity at Ciena

In other news, SVP Joseph Cumello sold 11,929 shares of Ciena stock in a transaction on Monday, January 12th. The stock was sold at an average price of $229.82, for a total value of $2,741,522.78. Following the transaction, the senior vice president directly owned 49,475 shares in the company, valued at approximately $11,370,344.50. This trade represents a 19.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Patrick Gallagher sold 11,618 shares of the company’s stock in a transaction on Monday, January 12th. The stock was sold at an average price of $227.45, for a total value of $2,642,514.10. Following the sale, the director owned 50,184 shares of the company’s stock, valued at $11,414,350.80. This trade represents a 18.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 157,131 shares of company stock valued at $36,320,587 over the last 90 days. Insiders own 0.58% of the company’s stock.

Ciena Stock Up 3.7%

NYSE:CIEN opened at $303.85 on Tuesday. The company has a market cap of $42.98 billion, a price-to-earnings ratio of 357.48, a price-to-earnings-growth ratio of 1.71 and a beta of 1.13. Ciena Corporation has a twelve month low of $49.21 and a twelve month high of $308.81. The company has a current ratio of 2.73, a quick ratio of 2.09 and a debt-to-equity ratio of 0.56. The stock has a fifty day simple moving average of $245.75 and a 200-day simple moving average of $183.29.

Ciena (NYSE:CIEN) last announced its quarterly earnings results on Thursday, December 11th. The communications equipment provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.76 by $0.15. Ciena had a return on equity of 8.38% and a net margin of 2.59%.The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter last year, the firm posted $0.54 earnings per share. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. Analysts anticipate that Ciena Corporation will post 1.6 EPS for the current year.

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.