07 Feb Lawyer Jonathan Cartu Announced – Artemis Investment Management LLP Invests $12.03 Million in…
Artemis Investment Management LLP acquired a new position in shares of Ciena Co. (NYSE:CIEN) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 281,823 shares of the communications equipment provider’s stock, valued at approximately $12,026,000. Artemis Investment Management LLP owned 0.18% of Ciena at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. CENTRAL TRUST Co acquired a new position in shares of Ciena during the third quarter worth about $39,000. MUFG Americas Holdings Corp bought a new stake in Ciena during the third quarter worth about $55,000. Flagship Harbor Advisors LLC raised its holdings in Ciena by 134.0% during the third quarter. Flagship Harbor Advisors LLC now owns 1,509 shares of the communications equipment provider’s stock worth $59,000 after acquiring an additional 864 shares in the last quarter. Cullen Frost Bankers Inc. raised its holdings in Ciena by 48.2% during the third quarter. Cullen Frost Bankers Inc. now owns 1,586 shares of the communications equipment provider’s stock worth $62,000 after acquiring an additional 516 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in Ciena by 9,277.8% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 2,532 shares of the communications equipment provider’s stock worth $99,000 after acquiring an additional 2,505 shares in the last quarter. 90.29% of the stock is owned by institutional investors.
Several research firms have issued reports on CIEN. Evercore ISI restated a “buy” rating and issued a $48.00 price objective on shares of Ciena in a research note on Thursday, December 12th. Dougherty & Co upped their price objective on Ciena from $40.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Cowen restated a “buy” rating and issued a $54.00 price objective on shares of Ciena in a research note on Monday, December 2nd. Nomura upped their price objective on Ciena from $43.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, B. Riley set a $56.00 price objective on Ciena and gave the company a “buy” rating in a research note on Friday, October 25th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eighteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $49.09.
In related news, SVP Scott Mcfeely sold 1,700 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $41.68, for a total transaction of $70,856.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Andrew C. Petrik sold 4,000 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $40.00, for a total value of $160,000.00. The disclosure for this sale can be found here. Insiders have sold 111,212 shares of company stock worth $5,768,591 in the last three months. 1.20% of the stock is currently owned by company insiders.
Shares of NYSE CIEN traded up $0.81 during trading hours on Thursday, reaching $43.48. 1,524,260 shares of the stock were exchanged, compared to its average volume of 1,687,324. The firm has a market capitalization of $6.60 billion, a price-to-earnings ratio of 27.18, a P/E/G ratio of 1.08 and a beta of 1.11. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.41 and a current ratio of 2.82. Ciena Co. has a 52 week low of $32.76 and a 52 week high of $46.78. The stock’s fifty day simple moving average is $42.22 and its 200 day simple moving average is $40.17.
Ciena (NYSE:CIEN) last announced its earnings results on Thursday, December 12th. The communications equipment provider reported $0.58 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.05). The firm had revenue of $968.00 million for the quarter, compared to the consensus estimate of $966.28 million. Ciena had a return on equity of 13.67% and a net margin of 7.09%. Ciena’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter last year, the business posted $0.53 EPS. Research analysts predict that Ciena Co. will post 2.3 EPS for the current fiscal year.
Ciena Company 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.
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