TD Asset Management Inc. boosted its position in shares of Ciena Corporation (NYSE:CIEN) by 6.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 43,700 shares of the communications equipment provider’s stock after buying an additional 2,600 shares during the period. TD Asset Management Inc.’s holdings in Ciena Corporation were worth $1,093,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CIEN. Swiss National Bank boosted its position in shares of Ciena Corporation by 1.1% in the first quarter. Swiss National Bank now owns 229,700 shares of the communications equipment provider’s stock worth $5,423,000 after buying an additional 2,600 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Ciena Corporation by 11.2% in the first quarter. Vanguard Group Inc. now owns 12,263,170 shares of the communications equipment provider’s stock worth $289,534,000 after buying an additional 1,235,744 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Ciena Corporation by 31.4% in the first quarter. Legal & General Group Plc now owns 91,386 shares of the communications equipment provider’s stock worth $2,159,000 after buying an additional 21,834 shares during the last quarter. Credit Agricole S A boosted its position in shares of Ciena Corporation by 325.3% in the first quarter. Credit Agricole S A now owns 30,523 shares of the communications equipment provider’s stock worth $721,000 after buying an additional 23,346 shares during the last quarter. Finally, Shell Asset Management Co. purchased a new position in shares of Ciena Corporation during the first quarter worth approximately $540,000.

Shares of Ciena Corporation (CIEN) opened at 23.87 on Monday. The stock has a 50 day moving average price of $25.08 and a 200 day moving average price of $24.46. Ciena Corporation has a 52 week low of $18.94 and a 52 week high of $27.98. The firm has a market capitalization of $3.39 billion, a P/E ratio of 31.53 and a beta of 1.61.

Ciena Corporation (NYSE:CIEN) last posted its earnings results on Thursday, June 1st. The communications equipment provider reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.08. The business had revenue of $707.02 million for the quarter, compared to the consensus estimate of $694.84 million. Ciena Corporation had a net margin of 4.13% and a return on equity of 25.56%. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.34 EPS. Analysts forecast that Ciena Corporation will post $1.77 EPS for the current year.

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CIEN has been the subject of a number of research reports. Needham & Company LLC increased their price target on Ciena Corporation from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, June 2nd. Deutsche Bank AG restated a “hold” rating and issued a $24.00 price objective (up from $23.00) on shares of Ciena Corporation in a report on Saturday, June 3rd. Zacks Investment Research downgraded Ciena Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Instinet restated a “buy” rating and issued a $30.00 price objective (up from $27.00) on shares of Ciena Corporation in a report on Saturday, June 3rd. Finally, Raymond James Financial, Inc. restated an “outperform” rating on shares of Ciena Corporation in a report on Thursday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $30.19.

In other Ciena Corporation news, Director Patrick Gallagher sold 3,000 shares of the firm’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $26.29, for a total transaction of $78,870.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP James E. Moylan, Jr. sold 2,000 shares of the firm’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $26.29, for a total transaction of $52,580.00. The disclosure for this sale can be found here. Insiders have sold a total of 82,108 shares of company stock worth $2,076,887 in the last three months. Insiders own 1.45% of the company’s stock.

About Ciena Corporation

Ciena Corporation is a network strategy and technology company, which provides solutions that enable a range of network operators to adopt communication architectures and deliver an array of services, relied upon by enterprise and consumer end users. It provides equipment, software and services that support the transport, switching, aggregation, service delivery and management of voice, video and data traffic on communications networks.

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Institutional Ownership by Quarter for Ciena Corporation (NYSE:CIEN)

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