Ciena Co. (CIEN) Holdings Cut by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its stake in shares of Ciena Co. (NYSE:CIEN) by 25.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,972 shares of the communications equipment provider’s stock after selling 9,742 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Ciena were worth $905,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of CIEN. Commonwealth Bank of Australia bought a new stake in Ciena in the 3rd quarter valued at approximately $459,000. Montag A & Associates Inc. bought a new stake in Ciena in the 3rd quarter valued at approximately $2,279,000. SG Americas Securities LLC lifted its stake in Ciena by 972.5% in the 3rd quarter. SG Americas Securities LLC now owns 279,754 shares of the communications equipment provider’s stock valued at $8,740,000 after acquiring an additional 253,669 shares in the last quarter. LSV Asset Management lifted its stake in Ciena by 4.3% in the 3rd quarter. LSV Asset Management now owns 2,852,237 shares of the communications equipment provider’s stock valued at $89,103,000 after acquiring an additional 117,630 shares in the last quarter. Finally, Lincoln National Corp bought a new stake in Ciena in the 3rd quarter valued at approximately $490,000.

NYSE:CIEN opened at $32.62 on Friday. The company has a market cap of $4.63 billion, a price-to-earnings ratio of 21.89, a P/E/G ratio of 1.42 and a beta of 1.21. Ciena Co. has a twelve month low of $19.99 and a twelve month high of $35.04. The company has a current ratio of 1.97, a quick ratio of 1.76 and a debt-to-equity ratio of 0.33.

Ciena (NYSE:CIEN) last posted its quarterly earnings results on Thursday, August 30th. The communications equipment provider reported $0.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.12. The firm had revenue of $818.82 million for the quarter, compared to analyst estimates of $792.28 million. Ciena had a return on equity of 8.56% and a net margin of 25.56%. The business’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.51 EPS. Research analysts forecast that Ciena Co. will post 1.1 EPS for the current fiscal year.

CIEN has been the topic of several research reports. ValuEngine upgraded Ciena from a “hold” rating to a “buy” rating in a research note on Friday, August 17th. Rosenblatt Securities set a $27.00 target price on Ciena and gave the company a “hold” rating in a research note on Tuesday, August 28th. BMO Capital Markets restated a “buy” rating and issued a $28.00 target price on shares of Ciena in a research note on Wednesday, August 29th. Loop Capital restated a “buy” rating and issued a $36.00 target price on shares of Ciena in a research note on Thursday, August 30th. Finally, Raymond James boosted their target price on Ciena from $30.00 to $36.00 and gave the company an “outperform” rating in a research note on Friday, August 31st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $33.05.

In related news, SVP Jason Phipps sold 1,581 shares of the business’s stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $30.98, for a total transaction of $48,979.38. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP James E. Moylan, Jr. sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 28th. The stock was sold at an average price of $31.74, for a total value of $63,480.00. The disclosure for this sale can be found here. Insiders have sold a total of 82,275 shares of company stock worth $2,562,800 in the last ninety days. Insiders own 1.38% of the company’s stock.

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About Ciena

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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Institutional Ownership by Quarter for Ciena (NYSE:CIEN)

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