American Century Companies Inc. Has $9.58 Million Holdings in Ciena Co. (CIEN)

American Century Companies Inc. cut its holdings in Ciena Co. (NYSE:CIEN) by 3.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 457,545 shares of the communications equipment provider’s stock after selling 18,243 shares during the period. American Century Companies Inc.’s holdings in Ciena were worth $9,576,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Advisor Group Inc. increased its position in shares of Ciena by 6.4% during the second quarter. Advisor Group Inc. now owns 10,011 shares of the communications equipment provider’s stock worth $151,000 after purchasing an additional 604 shares in the last quarter. Parametric Portfolio Associates LLC increased its position in shares of Ciena by 15.9% during the second quarter. Parametric Portfolio Associates LLC now owns 187,277 shares of the communications equipment provider’s stock worth $4,686,000 after purchasing an additional 25,663 shares in the last quarter. State Street Corp increased its position in shares of Ciena by 3.9% during the second quarter. State Street Corp now owns 4,648,540 shares of the communications equipment provider’s stock worth $116,319,000 after purchasing an additional 172,876 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Ciena by 2.1% during the second quarter. The Manufacturers Life Insurance Company now owns 311,990 shares of the communications equipment provider’s stock worth $7,806,000 after purchasing an additional 6,274 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its position in shares of Ciena by 11.2% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 26,091 shares of the communications equipment provider’s stock worth $653,000 after purchasing an additional 2,628 shares in the last quarter.

In other Ciena news, VP Andrew C. Petrik sold 3,800 shares of Ciena stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $21.22, for a total value of $80,636.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO James E. Moylan, Jr. sold 2,000 shares of Ciena stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $21.46, for a total value of $42,920.00. The disclosure for this sale can be found here. Insiders sold a total of 223,743 shares of company stock worth $4,783,101 in the last ninety days. 1.45% of the stock is owned by corporate insiders.

A number of analysts have recently commented on CIEN shares. BMO Capital Markets reiterated a “buy” rating on shares of Ciena in a research report on Friday, October 27th. Stifel Nicolaus reiterated a “buy” rating on shares of Ciena in a research report on Friday, November 3rd. Needham & Company LLC cut their target price on Ciena from $26.00 to $24.00 and set a “buy” rating on the stock in a research report on Friday, December 8th. Raymond James Financial set a $33.00 target price on Ciena and gave the stock a “buy” rating in a research report on Thursday, December 7th. Finally, Cowen reiterated a “buy” rating and set a $33.00 target price on shares of Ciena in a research report on Wednesday, December 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twenty have issued a buy rating to the stock. Ciena currently has a consensus rating of “Buy” and a consensus target price of $28.48.

Shares of Ciena Co. (CIEN) opened at $23.23 on Monday. Ciena Co. has a twelve month low of $19.40 and a twelve month high of $27.98. The firm has a market capitalization of $3,340.00, a P/E ratio of 3.36, a price-to-earnings-growth ratio of 1.48 and a beta of 1.67. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.93 and a quick ratio of 1.68.

Ciena (NYSE:CIEN) last announced its quarterly earnings data on Thursday, December 7th. The communications equipment provider reported $0.46 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.04). Ciena had a net margin of 45.04% and a return on equity of 18.32%. The business had revenue of $744.40 million during the quarter, compared to analysts’ expectations of $736.91 million. During the same period in the prior year, the firm posted $0.44 EPS. Ciena’s revenue for the quarter was up 3.9% compared to the same quarter last year. equities research analysts forecast that Ciena Co. will post 1 earnings per share for the current fiscal year.

Ciena announced that its Board of Directors has authorized a share buyback plan on Thursday, December 7th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the communications equipment provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

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Ciena Profile

Ciena Corporation is a network strategy and technology company, which provides solutions that enable a range of network operators to adopt communication architectures and deliver an array of services, relied upon by enterprise and consumer end users. It provides equipment, software and services that support the transport, switching, aggregation, service delivery and management of voice, video and data traffic on communications networks.

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Institutional Ownership by Quarter for Ciena (NYSE:CIEN)

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