Teachers Retirement System of The State of Kentucky Lowers Holdings in Ciena Co. (NYSE:CIEN)

Teachers Retirement System of The State of Kentucky lowered its holdings in Ciena Co. (NYSE:CIEN) by 85.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,586 shares of the communications equipment provider’s stock after selling 137,956 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Ciena were worth $1,160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. First Horizon Advisors Inc. increased its position in Ciena by 483.3% in the third quarter. First Horizon Advisors Inc. now owns 560 shares of the communications equipment provider’s stock worth $31,000 after purchasing an additional 464 shares during the last quarter. Berman Capital Advisors LLC boosted its stake in shares of Ciena by 83.8% during the third quarter. Berman Capital Advisors LLC now owns 735 shares of the communications equipment provider’s stock valued at $37,000 after purchasing an additional 335 shares during the period. Global Retirement Partners LLC lifted its stake in Ciena by 21.2% in the third quarter. Global Retirement Partners LLC now owns 1,159 shares of the communications equipment provider’s stock worth $60,000 after acquiring an additional 203 shares during the period. NuWave Investment Management LLC raised its holdings in Ciena by 48.7% in the third quarter. NuWave Investment Management LLC now owns 1,179 shares of the communications equipment provider’s stock worth $61,000 after purchasing an additional 386 shares in the last quarter. Finally, Bbva USA raised its holdings in Ciena by 150.4% in the third quarter. Bbva USA now owns 1,490 shares of the communications equipment provider’s stock worth $77,000 after purchasing an additional 895 shares in the last quarter. 86.74% of the stock is owned by institutional investors.

Shares of CIEN stock opened at $71.41 on Friday. Ciena Co. has a fifty-two week low of $47.52 and a fifty-two week high of $78.28. The company has a 50 day moving average price of $68.52 and a 200 day moving average price of $59.80. The stock has a market capitalization of $11.06 billion, a P/E ratio of 22.39, a price-to-earnings-growth ratio of 1.70 and a beta of 0.85. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.10 and a current ratio of 3.51.

Ciena (NYSE:CIEN) last released its quarterly earnings results on Thursday, December 9th. The communications equipment provider reported $0.85 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.85. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.02 billion. Ciena had a return on equity of 13.89% and a net margin of 13.81%. The firm’s quarterly revenue was up 25.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.53 EPS. On average, research analysts forecast that Ciena Co. will post 2.66 EPS for the current fiscal year.

In other Ciena news, VP David M. Rothenstein sold 2,500 shares of the stock in a transaction that occurred on Wednesday, December 15th. The shares were sold at an average price of $73.86, for a total transaction of $184,650.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO James E. Moylan, Jr. sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, November 11th. The stock was sold at an average price of $60.63, for a total transaction of $121,260.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,098 shares of company stock valued at $2,411,253. 0.96% of the stock is currently owned by insiders.

A number of equities analysts have issued reports on CIEN shares. Colliers Securities reissued a “buy” rating and set a $79.00 price target on shares of Ciena in a research report on Friday, December 10th. Needham & Company LLC upped their target price on Ciena from $80.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, December 28th. JPMorgan Chase & Co. raised their target price on Ciena from $67.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, December 10th. Barclays raised their price objective on shares of Ciena from $66.00 to $84.00 and gave the stock an “overweight” rating in a research report on Friday, December 10th. Finally, Citigroup increased their price objective on Ciena from $70.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, December 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $76.86.

About Ciena

Ciena Corp. engages in the provision of network and communication infrastructure. It operates through the following segments: Networking Platforms, Platform Software and Services, Blue Planet Automation Software and Services, and Global Services. The Networking Platforms segment consists of Converged Packet Optical and Packet Networking portfolios.

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Institutional Ownership by Quarter for Ciena (NYSE:CIEN)

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