Symphony Asset Management LLC grew its stake in Ciena Corporation (NYSE:CIEN) by 14.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 86,557 shares of the communications equipment provider’s stock after buying an additional 11,172 shares during the period. Symphony Asset Management LLC owned 0.06% of Ciena Corporation worth $2,166,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of CIEN. Capstone Asset Management Co. increased its stake in shares of Ciena Corporation by 5.1% in the first quarter. Capstone Asset Management Co. now owns 10,360 shares of the communications equipment provider’s stock valued at $245,000 after buying an additional 500 shares during the period. Glen Harbor Capital Management LLC increased its stake in shares of Ciena Corporation by 12.1% in the first quarter. Glen Harbor Capital Management LLC now owns 5,280 shares of the communications equipment provider’s stock valued at $125,000 after buying an additional 572 shares during the period. Shell Asset Management Co. acquired a new stake in shares of Ciena Corporation in the first quarter valued at about $540,000. Oregon Public Employees Retirement Fund increased its stake in shares of Ciena Corporation by 1.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 48,437 shares of the communications equipment provider’s stock valued at $1,144,000 after buying an additional 700 shares during the period. Finally, Great West Life Assurance Co. Can increased its stake in shares of Ciena Corporation by 5.2% in the first quarter. Great West Life Assurance Co. Can now owns 82,150 shares of the communications equipment provider’s stock valued at $1,938,000 after buying an additional 4,070 shares during the period.

COPYRIGHT VIOLATION NOTICE: This article was first reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this article on another site, it was illegally stolen and reposted in violation of U.S. and international copyright legislation. The original version of this article can be viewed at https://www.thecerbatgem.com/2017/09/12/symphony-asset-management-llc-buys-11172-shares-of-ciena-corporation-cien.html.

Several equities research analysts recently commented on the company. TheStreet raised Ciena Corporation from a “c+” rating to a “b” rating in a research note on Monday, June 19th. Stifel Nicolaus raised Ciena Corporation from a “hold” rating to a “buy” rating and raised their target price for the stock from $24.00 to $28.00 in a research note on Monday, May 22nd. Instinet reaffirmed a “buy” rating and set a $30.00 target price (up previously from $27.00) on shares of Ciena Corporation in a research note on Saturday, June 3rd. Argus raised their target price on Ciena Corporation from $27.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, June 2nd. Finally, Needham & Company LLC raised their target price on Ciena Corporation from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Ciena Corporation has a consensus rating of “Buy” and an average target price of $29.79.

In related news, SVP Scott Mcfeely sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $25.70, for a total value of $25,700.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Stephen B. Alexander sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $25.02, for a total value of $62,550.00. The disclosure for this sale can be found here. Insiders sold a total of 79,108 shares of company stock worth $1,988,997 in the last 90 days. 1.45% of the stock is currently owned by company insiders.

Ciena Corporation (NYSE:CIEN) traded up 1.39% on Tuesday, hitting $21.94. The stock had a trading volume of 406,579 shares. Ciena Corporation has a 1-year low of $18.94 and a 1-year high of $27.98. The company has a market cap of $3.11 billion, a P/E ratio of 28.98 and a beta of 1.68. The stock has a 50 day moving average price of $24.20 and a 200 day moving average price of $24.26.

Ciena Corporation (NYSE:CIEN) last posted its quarterly earnings results on Thursday, August 31st. The communications equipment provider reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.02. The company had revenue of $728.70 million for the quarter, compared to the consensus estimate of $726.81 million. Ciena Corporation had a return on equity of 25.53% and a net margin of 4.99%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.42 EPS. On average, equities research analysts expect that Ciena Corporation will post $1.74 EPS for the current fiscal year.

Ciena Corporation Profile

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.

Want to see what other hedge funds are holding CIEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ciena Corporation (NYSE:CIEN).

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

Receive News & Stock Ratings for Ciena Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ciena Corporation and related stocks with our FREE daily email newsletter.