26 Aug VP Jon Cartu Writes – Eqis Capital Management Inc. Has $313,000 Stock Position in…
Eqis Capital Management Inc. decreased its holdings in Ciena Co. (NYSE:CIEN) by 3.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,619 shares of the communications equipment provider’s stock after selling 266 shares during the period. Eqis Capital Management Inc.’s holdings in Ciena were worth $313,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in CIEN. BlackRock Inc. raised its stake in Ciena by 1.0% during the 1st quarter. BlackRock Inc. now owns 18,081,989 shares of the communications equipment provider’s stock worth $675,180,000 after acquiring an additional 182,486 shares in the last quarter. Northern Trust Corp raised its stake in Ciena by 1.3% during the 1st quarter. Northern Trust Corp now owns 3,124,045 shares of the communications equipment provider’s stock worth $116,652,000 after acquiring an additional 41,253 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Ciena by 41.9% during the 1st quarter. JPMorgan Chase & Co. now owns 2,921,055 shares of the communications equipment provider’s stock worth $109,071,000 after acquiring an additional 862,017 shares in the last quarter. Boston Partners raised its stake in Ciena by 2.3% during the 1st quarter. Boston Partners now owns 1,770,247 shares of the communications equipment provider’s stock worth $66,101,000 after acquiring an additional 39,591 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Ciena by 13.2% during the 4th quarter. Geode Capital Management LLC now owns 1,769,554 shares of the communications equipment provider’s stock worth $60,005,000 after acquiring an additional 206,985 shares in the last quarter. Institutional investors and hedge funds own 88.05% of the company’s stock.
Ciena stock opened at $40.01 on Monday. The company has a market cap of $6.39 billion, a P/E ratio of 35.72, a PEG ratio of 1.37 and a beta of 1.11. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.36 and a current ratio of 2.83. The firm’s 50-day moving average is $43.33 and its 200-day moving average is $40.13. Ciena Co. has a 1 year low of $27.21 and a 1 year high of $46.78.
Ciena (NYSE:CIEN) last posted its quarterly earnings data on Thursday, June 6th. The communications equipment provider reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.07. Ciena had a net margin of 5.98% and a return on equity of 12.37%. The company had revenue of $865.00 million during the quarter, compared to analyst estimates of $818.23 million. During the same quarter last year, the firm posted $0.23 EPS. The business’s revenue for the quarter was up 18.5% on a year-over-year basis. As a group, sell-side analysts predict that Ciena Co. will post 1.74 earnings per share for the current year.
A number of research firms have commented on CIEN. Rosenblatt Securities restated a “hold” rating and issued a $38.00 price objective on shares of Ciena in a research note on Monday, June 3rd. TheStreet upgraded shares of Ciena from a “c+” rating to a “b” rating in a research note on Tuesday, June 25th. Barclays began coverage on shares of Ciena in a research note on Wednesday, August 7th. They set an “overweight” rating and a $50.00 price target on the stock. Raymond James boosted their price objective on shares of Ciena from $48.00 to $53.00 and gave the stock an “outperform” rating in a report on Friday, June 7th. Finally, Goldman Sachs Group upped their price target on shares of Ciena from $45.00 to $53.00 and gave the company a “buy” rating in a report on Friday, June 7th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $46.71.
In other Ciena news, SVP Scott Mcfeely sold 1,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $41.11, for a total value of $41,110.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP James Frodsham sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $43.12, for a total transaction of $86,240.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 88,789 shares of company stock valued at $3,825,067. Insiders own 1.20% of the company’s stock.
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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