Expert Jon Cartu Claims - Sumitomo Mitsui Trust Holdings Inc. Invests $509,000 in... - Jonathan Cartu Computer Repair Consultant Services
705
post-template-default,single,single-post,postid-705,single-format-standard,qode-quick-links-1.0,ajax_fade,page_not_loaded,,qode_grid_1300,footer_responsive_adv,qode-theme-ver-11.2,qode-theme-bridge,wpb-js-composer js-comp-ver-5.2.1,vc_responsive

Expert Jon Cartu Claims – Sumitomo Mitsui Trust Holdings Inc. Invests $509,000 in…

Ciena logo

Expert Jon Cartu Claims – Sumitomo Mitsui Trust Holdings Inc. Invests $509,000 in…


Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of Ciena Co. (NYSE:CIEN) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 12,379 shares of the communications equipment provider’s stock, valued at approximately $509,000.

Other hedge funds have also modified their holdings of the company. Creative Planning lifted its holdings in shares of Ciena by 3.8% during the second quarter. Creative Planning now owns 8,152 shares of the communications equipment provider’s stock worth $335,000 after purchasing an additional 302 shares during the period. Flagship Harbor Advisors LLC lifted its holdings in shares of Ciena by 98.5% during the second quarter. Flagship Harbor Advisors LLC now owns 645 shares of the communications equipment provider’s stock worth $26,000 after purchasing an additional 320 shares during the period. Oakbrook Investments LLC lifted its holdings in shares of Ciena by 4.1% during the first quarter. Oakbrook Investments LLC now owns 10,100 shares of the communications equipment provider’s stock worth $377,000 after purchasing an additional 400 shares during the period. Parkside Financial Bank & Trust lifted its holdings in shares of Ciena by 29.6% during the first quarter. Parkside Financial Bank & Trust now owns 1,789 shares of the communications equipment provider’s stock worth $67,000 after purchasing an additional 409 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Ciena by 1.7% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,339 shares of the communications equipment provider’s stock worth $946,000 after purchasing an additional 426 shares during the period. Institutional investors and hedge funds own 92.64% of the company’s stock.

Shares of NYSE:CIEN opened at $41.07 on Friday. Ciena Co. has a 12-month low of $26.21 and a 12-month high of $46.78. The company has a market capitalization of $6.21 billion, a PE ratio of 36.67, a PEG ratio of 1.33 and a beta of 1.11. The business has a 50 day moving average of $43.43 and a two-hundred day moving average of $40.05. The company has a current ratio of 2.83, a quick ratio of 2.36 and a debt-to-equity ratio of 0.33.

Ciena (NYSE:CIEN) last announced its earnings results on Thursday, June 6th. The communications equipment provider reported $0.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.07. The business had revenue of $865.00 million during the quarter, compared to the consensus estimate of $818.23 million. Ciena had a return on equity of 12.37% and a net margin of 5.98%. The business’s quarterly revenue was up 18.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.23 EPS. Equities research analysts predict that Ciena Co. will post 1.74 earnings per share for the current fiscal year.

A number of research firms recently commented on CIEN. Citigroup lifted their target price on Ciena from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, June 7th. JPMorgan Chase & Co. downgraded Ciena from a “neutral” rating to an “underweight” rating in a report on Monday, April 22nd. MKM Partners lifted their target price on Ciena to $54.00 and gave the stock a “buy” rating in a report on Friday, June 7th. Stifel Nicolaus lifted their target price on Ciena from $46.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, June 7th. Finally, Zacks Investment Research raised Ciena from a “hold” rating to a “strong-buy” rating and set a $42.00 target price for the company in a report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $46.79.

In other news, CEO Gary B. Smith sold 9,600 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $35.16, for a total transaction of $337,536.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Rick Hamilton sold 1,951 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $44.05, for a total value of $85,941.55. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 93,389 shares of company stock valued at $3,955,053. Corporate insiders own 1.20% of the company’s stock.

Ciena Profile

Ciena Corporation provides network hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of video, data, and voice 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.

Featured Story: Day Trading – Risk Worth the Reward?

Want to see what other hedge funds are holding CIEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ciena Co. (NYSE:CIEN).

Institutional Ownership by Quarter for Ciena (NYSE:CIEN)



Receive News & Ratings for Ciena Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Ciena and related companies with MarketBeat.com’s FREE daily email newsletter.

[

Jonathan Cartu

No Comments

Post A Comment