IFM Investors Pty Ltd Buys 1,100 Shares of Ciena Corporation $CIEN

IFM Investors Pty Ltd lifted its stake in Ciena Corporation (NYSE:CIEN) by 3.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,384 shares of the communications equipment provider’s stock after buying an additional 1,100 shares during the period. IFM Investors Pty Ltd’s holdings in Ciena were worth $12,184,000 as of its most recent SEC filing.

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

Insider Transactions at Ciena

In other news, CFO Marc D. Graff sold 126 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $449.36, for a total value of $56,619.36. Following the completion of the transaction, the chief financial officer owned 127,081 shares in the company, valued at $57,105,118.16. This trade represents a 0.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gary B. Smith sold 2,952 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $562.05, for a total value of $1,659,171.60. Following the completion of the sale, the chief executive officer directly owned 272,509 shares in the company, valued at approximately $153,163,683.45. The trade was a 1.07% 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 17,120 shares of company stock worth $8,872,766 over the last 90 days. 0.58% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CIEN. Needham & Company LLC restated a “buy” rating and issued a $600.00 price objective on shares of Ciena in a research report on Tuesday, June 23rd. Citigroup raised their target price on Ciena from $345.00 to $658.00 and gave the stock a “buy” rating in a research note on Monday, May 18th. Rosenblatt Securities boosted their price target on Ciena from $350.00 to $720.00 and gave the company a “buy” rating in a report on Friday, June 5th. Stifel Nicolaus set a $615.00 price target on Ciena in a research report on Friday, May 29th. Finally, Barclays increased their price objective on Ciena from $372.00 to $607.00 and gave the stock an “overweight” rating in a report on Friday, June 5th. Thirteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $530.56.

Ciena Price Performance

Shares of NYSE CIEN opened at $461.48 on Thursday. Ciena Corporation has a 1 year low of $76.89 and a 1 year high of $637.51. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.73 and a quick ratio of 2.11. The company’s 50-day moving average is $517.03 and its 200 day moving average is $387.95. The stock has a market capitalization of $65.32 billion, a P/E ratio of 153.83 and a beta of 1.27.

Ciena (NYSE:CIEN) last issued its quarterly earnings data on Thursday, June 4th. The communications equipment provider reported $1.64 EPS for the quarter, topping the consensus estimate of $1.46 by $0.18. The business had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.50 billion. Ciena had a net margin of 7.87% and a return on equity of 18.15%. Ciena’s quarterly revenue was up 39.5% compared to the same quarter last year. During the same period last year, the business posted $0.42 earnings per share. On average, sell-side analysts expect that Ciena Corporation will post 5.4 earnings per share for the current year.

About Ciena

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.