26,110 Shares in Ciena Co. (CIEN) Acquired by Rafferty Asset Management LLC

Rafferty Asset Management LLC acquired a new stake in shares of Ciena Co. (NYSE:CIEN) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 26,110 shares of the communications equipment provider’s stock, valued at approximately $816,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in CIEN. Signaturefd LLC raised its holdings in shares of Ciena by 484.4% in the 2nd quarter. Signaturefd LLC now owns 5,534 shares of the communications equipment provider’s stock worth $147,000 after acquiring an additional 4,587 shares during the last quarter. CenterStar Asset Management LLC acquired a new stake in shares of Ciena in the 3rd quarter worth about $159,000. Moneta Group Investment Advisors LLC raised its holdings in shares of Ciena by 102.0% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 6,140 shares of the communications equipment provider’s stock worth $163,000 after acquiring an additional 3,100 shares during the last quarter. O Shaughnessy Asset Management LLC acquired a new stake in shares of Ciena in the 3rd quarter worth about $198,000. Finally, Financial Gravity Wealth Inc. acquired a new stake in shares of Ciena in the 3rd quarter worth about $199,000.

In other news, SVP James E. Moylan, Jr. sold 1,963 shares of the stock in a transaction that occurred on Wednesday, November 14th. The shares were sold at an average price of $33.35, for a total transaction of $65,466.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Gary B. Smith sold 9,600 shares of the stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $31.14, for a total transaction of $298,944.00. The disclosure for this sale can be found here. Insiders have sold a total of 82,275 shares of company stock valued at $2,562,800 over the last three months. Insiders own 1.38% of the company’s stock.

CIEN has been the topic of a number of analyst reports. Deutsche Bank upped their target price on shares of Ciena from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Friday, August 31st. Needham & Company LLC lowered shares of Ciena from a “buy” rating to a “hold” rating in a report on Tuesday, November 20th. Loop Capital restated a “buy” rating and issued a $36.00 target price on shares of Ciena in a report on Thursday, August 30th. Citigroup upped their price objective on shares of Ciena from $29.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, August 31st. Finally, William Blair reaffirmed a “buy” rating on shares of Ciena in a research report on Friday, August 31st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $33.05.

Ciena stock opened at $32.62 on Monday. Ciena Co. has a twelve month low of $19.99 and a twelve month high of $35.04. The company has a market cap of $4.65 billion, a PE ratio of 21.89, a P/E/G ratio of 1.42 and a beta of 1.24. The company has a quick ratio of 1.76, a current ratio of 1.97 and a debt-to-equity ratio of 0.33.

Ciena (NYSE:CIEN) last released its earnings results on Thursday, August 30th. The communications equipment provider reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.12. Ciena had a net margin of 25.56% and a return on equity of 8.56%. The firm had revenue of $818.82 million during the quarter, compared to the consensus estimate of $792.28 million. During the same period in the prior year, the firm earned $0.51 EPS. The company’s revenue was up 12.4% compared to the same quarter last year. On average, equities analysts expect that Ciena Co. will post 1.1 EPS for the current fiscal year.

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Ciena Profile

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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