Koch Industries Inc. purchased a new position in shares of Ciena (NYSE:CIEN) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 12,052 shares of the communications equipment provider’s stock, valued at approximately $252,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Ciena by 47.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,488 shares of the communications equipment provider’s stock valued at $157,000 after buying an additional 2,403 shares in the last quarter. Corient Capital Partners LLC acquired a new stake in Ciena in the fourth quarter valued at approximately $230,000. Crossmark Global Holdings Inc. acquired a new stake in Ciena in the third quarter valued at approximately $246,000. Virtu Financial LLC acquired a new stake in Ciena in the fourth quarter valued at approximately $261,000. Finally, Quantitative Systematic Strategies LLC acquired a new stake in Ciena in the fourth quarter valued at approximately $359,000.
NYSE CIEN traded down $0.38 during mid-day trading on Friday, reaching $25.04. 2,128,681 shares of the stock were exchanged, compared to its average volume of 2,878,006. Ciena has a one year low of $19.40 and a one year high of $27.98. The company has a market capitalization of $3,668.60, a PE ratio of 16.81, a P/E/G ratio of 1.52 and a beta of 1.38. The company has a quick ratio of 1.79, a current ratio of 2.06 and a debt-to-equity ratio of 0.33.
Ciena (NYSE:CIEN) last announced its earnings results on Tuesday, March 6th. The communications equipment provider reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.08. Ciena had a net margin of 27.76% and a return on equity of 14.10%. The business had revenue of $646.14 million during the quarter, compared to the consensus estimate of $641.77 million. During the same quarter last year, the firm earned $0.17 earnings per share. Ciena’s quarterly revenue was up 4.0% on a year-over-year basis. equities analysts expect that Ciena will post 1.08 earnings per share for the current fiscal year.
A number of brokerages have weighed in on CIEN. Rosenblatt Securities began coverage on shares of Ciena in a research report on Wednesday. They issued a “buy” rating and a $32.00 target price on the stock. Northland Securities restated a “buy” rating and issued a $34.00 target price on shares of Ciena in a research report on Monday, March 19th. Zacks Investment Research upgraded shares of Ciena from a “sell” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Tuesday, March 13th. Citigroup raised their target price on shares of Ciena from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, March 9th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $29.00 price target (up previously from $25.00) on shares of Ciena in a research note on Friday, March 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $29.91.
In other Ciena news, VP David M. Rothenstein sold 2,000 shares of the firm’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $22.75, for a total value of $45,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Rick Hamilton sold 2,526 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $21.40, for a total transaction of $54,056.40. The disclosure for this sale can be found here. Insiders have sold 95,531 shares of company stock valued at $2,315,878 in the last three months. 1.38% of the stock is owned by insiders.
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Ciena Corporation provides hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of voice, video, and data 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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