BankChampaign National Association Buys New Stake in Ciena Corporation $CIEN

BankChampaign National Association acquired a new stake in Ciena Corporation (NYSE:CIEN) during the 1st quarter, Holdings Channel.com reports. The firm acquired 1,955 shares of the communications equipment provider’s stock, valued at approximately $759,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Elyxium Wealth LLC purchased a new stake in shares of Ciena during the fourth quarter worth $2,747,810,000. Corient Private Wealth LLC grew its stake in Ciena by 30,114.5% during the 4th quarter. Corient Private Wealth LLC now owns 2,870,677 shares of the communications equipment provider’s stock worth $671,365,000 after purchasing an additional 2,861,176 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Ciena by 53.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,051,625 shares of the communications equipment provider’s stock worth $947,554,000 after purchasing an additional 1,404,132 shares during the period. Atreides Management LP purchased a new stake in Ciena during the 2nd quarter worth about $102,705,000. Finally, Arrowstreet Capital Limited Partnership raised its position in Ciena by 2,174.2% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,143,855 shares of the communications equipment provider’s stock valued at $166,625,000 after purchasing an additional 1,093,557 shares in the last quarter. 91.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CIEN has been the subject of several recent research reports. Northland Securities set a $450.00 price objective on Ciena in a research note on Friday, June 5th. Morgan Stanley raised their target price on shares of Ciena from $405.00 to $490.00 and gave the company an “equal weight” rating in a report on Friday, June 5th. UBS Group reiterated a “buy” rating on shares of Ciena in a research note on Tuesday. 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. Finally, Weiss Ratings lowered shares of Ciena from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $530.56.

Insider Buying and Selling at Ciena

In related news, SVP Brodie Gage sold 1,200 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $466.10, for a total transaction of $559,320.00. Following the completion of the sale, the senior vice president owned 42,741 shares in the company, valued at $19,921,580.10. This represents a 2.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jason Phipps sold 2,629 shares of the firm’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $466.20, for a total transaction of $1,225,639.80. Following the transaction, the senior vice president directly owned 62,382 shares in the company, valued at $29,082,488.40. The trade was a 4.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 18,675 shares of company stock valued at $9,387,576. 0.58% of the stock is owned by company insiders.

Ciena Stock Performance

Shares of CIEN stock opened at $371.37 on Friday. The stock’s 50-day moving average is $461.58 and its two-hundred day moving average is $413.77. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.11 and a current ratio of 2.73. Ciena Corporation has a 1 year low of $84.41 and a 1 year high of $637.51. The firm has a market cap of $52.57 billion, a price-to-earnings ratio of 123.79 and a beta of 1.27.

Ciena (NYSE:CIEN) last posted its earnings results on Thursday, June 4th. The communications equipment provider reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.18. The business had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.50 billion. Ciena had a return on equity of 18.15% and a net margin of 7.87%.The business’s quarterly revenue was up 39.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.42 EPS. Analysts predict that Ciena Corporation will post 5.4 earnings per share for the current 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.