Temasek Holdings Private Ltd Purchases Shares of 44,437 Ciena Corporation $CIEN

Temasek Holdings Private Ltd purchased a new position in Ciena Corporation (NYSE:CIEN) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 44,437 shares of the communications equipment provider’s stock, valued at approximately $17,252,000.

A number of other large investors have also modified their holdings of CIEN. Elyxium Wealth LLC purchased a new position in Ciena in the fourth quarter valued at $2,747,810,000. Corient Private Wealth LLC raised its position in Ciena by 30,114.5% in the 4th quarter. Corient Private Wealth LLC now owns 2,870,677 shares of the communications equipment provider’s stock valued at $671,365,000 after purchasing an additional 2,861,176 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Ciena by 53.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,051,625 shares of the communications equipment provider’s stock valued at $947,554,000 after buying an additional 1,404,132 shares during the period. Atreides Management LP acquired a new position in shares of Ciena during the second quarter worth about $102,705,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Ciena by 2,174.2% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,143,855 shares of the communications equipment provider’s stock worth $166,625,000 after buying an additional 1,093,557 shares during the period. Hedge funds and other institutional investors own 91.99% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Rosenblatt Securities raised their target price on shares of Ciena from $350.00 to $720.00 and gave the company a “buy” rating in a report on Friday, June 5th. JPMorgan Chase & Co. increased their price objective on shares of Ciena from $380.00 to $550.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Needham & Company LLC restated a “buy” rating and issued a $600.00 price objective on shares of Ciena in a report on Tuesday, June 23rd. Barclays raised their price objective on shares of Ciena from $372.00 to $607.00 and gave the company an “overweight” rating in a report on Friday, June 5th. Finally, Morgan Stanley boosted their target price on shares of Ciena from $405.00 to $490.00 and gave the stock an “equal weight” rating in a research note on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $530.56.

Insider Activity at Ciena

In other news, SVP Joseph Cumello sold 1,586 shares of Ciena stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $466.33, for a total transaction of $739,599.38. Following the sale, the senior vice president owned 42,872 shares in the company, valued at approximately $19,992,499.76. The trade was a 3.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gary B. Smith sold 2,952 shares of Ciena stock in a transaction dated 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 sale, the chief executive officer owned 272,509 shares in the company, valued at $153,163,683.45. This trade represents a 1.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 21,627 shares of company stock valued at $10,974,985. Corporate insiders own 0.58% of the company’s stock.

Ciena Trading Up 7.7%

Shares of Ciena stock opened at $407.89 on Wednesday. The company has a fifty day simple moving average of $487.72 and a 200-day simple moving average of $407.13. Ciena Corporation has a 12-month low of $83.20 and a 12-month high of $637.51. The company has a current ratio of 2.73, a quick ratio of 2.11 and a debt-to-equity ratio of 0.53. The stock has a market cap of $57.74 billion, a price-to-earnings ratio of 135.96 and a beta of 1.27.

Ciena (NYSE:CIEN) last announced its quarterly earnings results 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. Ciena had a net margin of 7.87% and a return on equity of 18.15%. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period last year, the business earned $0.42 EPS. Ciena’s revenue for the quarter was up 39.5% compared to the same quarter last year. On average, equities analysts forecast that Ciena Corporation will post 5.4 EPS for the current fiscal year.

Ciena 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.