18 Jan Lawyer Jonathan Cartu Announces – State of Alaska Department of Revenue Has $1.09 Million…
State of Alaska Department of Revenue lessened its holdings in Ciena Co. (NYSE:CIEN) by 7.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,427 shares of the communications equipment provider’s stock after selling 2,151 shares during the period. State of Alaska Department of Revenue’s holdings in Ciena were worth $1,085,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in CIEN. First Trust Advisors LP lifted its stake in shares of Ciena by 1,791.1% in the 3rd quarter. First Trust Advisors LP now owns 3,396,801 shares of the communications equipment provider’s stock valued at $133,257,000 after purchasing an additional 3,217,184 shares during the last quarter. Nuveen Asset Management LLC acquired a new stake in shares of Ciena in the 2nd quarter valued at $77,706,000. FMR LLC lifted its stake in shares of Ciena by 605.3% in the 1st quarter. FMR LLC now owns 1,249,825 shares of the communications equipment provider’s stock valued at $46,669,000 after purchasing an additional 1,072,632 shares during the last quarter. Menora Mivtachim Holdings LTD. acquired a new stake in shares of Ciena in the 3rd quarter valued at $40,458,000. Finally, Cubist Systematic Strategies LLC lifted its stake in shares of Ciena by 801.7% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 836,347 shares of the communications equipment provider’s stock valued at $34,399,000 after purchasing an additional 743,599 shares during the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.
In other news, VP David M. Rothenstein sold 2,000 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $37.73, for a total transaction of $75,460.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Andrew C. Petrik sold 4,000 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $40.00, for a total transaction of $160,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 106,512 shares of company stock worth $5,550,778. Insiders own 1.20% of the company’s stock.
Ciena stock opened at $42.23 on Friday. The firm has a market cap of $6.51 billion, a price-to-earnings ratio of 22.95, a P/E/G ratio of 1.06 and a beta of 1.11. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.82 and a quick ratio of 2.41. Ciena Co. has a fifty-two week low of $32.76 and a fifty-two week high of $46.78. The firm has a fifty day moving average price of $40.55 and a two-hundred day moving average price of $40.27.
Ciena (NYSE:CIEN) last posted its quarterly earnings data on Thursday, December 12th. The communications equipment provider reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.05). Ciena had a return on equity of 13.67% and a net margin of 7.09%. The company had revenue of $968.00 million for the quarter, compared to the consensus estimate of $966.28 million. During the same quarter in the previous year, the firm posted $0.53 EPS. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. As a group, sell-side analysts expect that Ciena Co. will post 2.3 earnings per share for the current year.
CIEN has been the subject of several analyst reports. Cowen reaffirmed a “buy” rating and issued a $54.00 price objective on shares of Ciena in a research note on Monday, December 2nd. Morgan Stanley raised shares of Ciena from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $47.00 to $50.00 in a research note on Wednesday, January 8th. Barclays lifted their price objective on shares of Ciena from $53.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. UBS Group lowered shares of Ciena from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $43.00 to $31.00 in a research note on Friday, December 6th. Finally, B. Riley set a $56.00 price objective on shares of Ciena and gave the company a “buy” rating in a research note on Friday, October 25th. Two analysts have rated the stock with a sell rating, five 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 target price of $48.78.
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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