Ciena Corporation (CIEN)

Ciena Co. (NYSE:CIEN) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its position in Ciena Co. (NYSE:CIEN – Free Report) by 2.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 949,476 shares of the communications equipment provider’s stock after buying an additional 18,860 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.66% of Ciena worth $42,736,000 at the end of the most recent quarter. Several other large investors also recently modified their holdings of CIEN. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Ciena in the third quarter valued at $101,000. Smithfield Trust Co lifted its position in shares of Ciena by 74.5% during the third quarter. Smithfield Trust Co now owns 2,999 shares of the communications equipment provider’s stock worth $142,000 after purchasing an additional 1,280 shares during the last quarter. Operose Advisors LLC grew its stake in Ciena by 19.0% in the third quarter. Operose Advisors LLC now owns 3,214 shares of the communications equipment provider’s stock worth $152,000 after purchasing an additional 514 shares in the last quarter. Claret Asset Management Corp bought a new stake in Ciena in the third quarter valued at about $203,000. Finally, Vestmark Advisory Solutions Inc. acquired a new stake in Ciena during the third quarter valued at approximately $207,000. 91.99% of the stock is currently owned by institutional investors and hedge funds. Ciena Stock Performance Shares of NYSE CIEN opened at $48.85 on Monday. Ciena Co. has a 12-month low of $39.94 and a 12-month high of $63.24. The company has a market cap of $7.06 billion, a PE ratio of 31.72, a P/E/G ratio of 2.24 and a beta of 1.00. The stock has a 50 day simple moving average of $48.06 and a 200-day simple moving average of $48.89. The company has a current ratio of 4.29, a quick ratio of 3.12 and a debt-to-equity ratio of 0.53. Ciena (NYSE:CIEN – Get Free Report) last posted its quarterly earnings data on Thursday, March 7th. The communications equipment provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.18. Ciena had a net margin of 5.22% and a return on equity of 9.92%. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the firm posted $0.48 earnings per share. The business’s revenue was down 1.8% on a year-over-year basis. On average, equities research analysts forecast that Ciena Co. will post 1.46 EPS for the current year. Insiders Place Their Bets In other news, SVP Brodie Gage sold 533 shares of Ciena stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $49.61, for a total value of $26,442.13. Following the transaction, the senior vice president now owns 41,372 shares of the company’s stock, valued at approximately $2,052,464.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Ciena news, CEO Gary B. Smith sold 4,166 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $44.80, for a total transaction of $186,636.80. Following the sale, the chief executive officer now owns 385,109 shares in the company, valued at approximately $17,252,883.20. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Brodie Gage sold 533 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $49.61, for a total transaction of $26,442.13. Following the completion of the transaction, the senior vice president now owns 41,372 shares of the company’s stock, valued at $2,052,464.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,473 shares of company stock worth $1,715,991. 0.83% of the stock is owned by corporate insiders. Wall Street Analysts Forecast Growth Several research analysts have recently commented on CIEN shares. Evercore ISI lifted their target price on Ciena from $57.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Citigroup started coverage on shares of Ciena in a report on Friday, April 12th. They set a “sell” rating and a $44.00 target price on the stock. JPMorgan Chase & Co. lifted their price target on shares of Ciena from $56.00 to $67.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. Needham & Company LLC boosted their price objective on shares of Ciena from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, March 4th. Finally, BNP Paribas started coverage on shares of Ciena in a report on Thursday, April 11th. They issued an “outperform” rating and a $57.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $58.79. Check Out Our Latest Research Report on CIEN About Ciena (Free Report) Ciena Corporation provides hardware and software services for delivery of video, data, and voice traffic metro, aggregation, and access communications network worldwide. The company's Networking Platforms segment offers convergence of coherent optical transport, open optical networking, optical transport network switching, IP routing, and switching services.