Teachers Advisors LLC reduced its position in Ciena Corporation (NYSE:CIEN) by 4.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,657,520 shares of the communications equipment provider’s stock after selling 242,520 shares during the quarter. Teachers Advisors LLC owned approximately 3.28% of Ciena Corporation worth $116,531,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Swiss National Bank boosted its stake in shares of Ciena Corporation by 1.1% in the 1st quarter. Swiss National Bank now owns 229,700 shares of the communications equipment provider’s stock valued at $5,423,000 after purchasing an additional 2,600 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Ciena Corporation by 11.2% in the 1st quarter. Vanguard Group Inc. now owns 12,263,170 shares of the communications equipment provider’s stock valued at $289,534,000 after purchasing an additional 1,235,744 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Ciena Corporation by 31.4% in the 1st quarter. Legal & General Group Plc now owns 91,386 shares of the communications equipment provider’s stock valued at $2,159,000 after purchasing an additional 21,834 shares during the last quarter. Dupont Capital Management Corp boosted its stake in shares of Ciena Corporation by 150.1% in the 2nd quarter. Dupont Capital Management Corp now owns 72,528 shares of the communications equipment provider’s stock valued at $1,815,000 after purchasing an additional 43,528 shares during the last quarter. Finally, Credit Agricole S A boosted its stake in shares of Ciena Corporation by 325.3% in the 1st quarter. Credit Agricole S A now owns 30,523 shares of the communications equipment provider’s stock valued at $721,000 after purchasing an additional 23,346 shares during the last quarter.

WARNING: “Teachers Advisors LLC Has $116.53 Million Stake in Ciena Corporation (CIEN)” was first posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this news story on another website, it was illegally stolen and reposted in violation of US and international copyright laws. The legal version of this news story can be accessed at https://www.thecerbatgem.com/2017/09/13/teachers-advisors-llc-has-116-53-million-stake-in-ciena-corporation-cien.html.

Ciena Corporation (NYSE:CIEN) traded down 1.242% on Wednesday, reaching $21.875. 671,223 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $24.13 and its 200 day moving average price is $24.25. The company has a market cap of $3.12 billion, a PE ratio of 23.933 and a beta of 1.68. Ciena Corporation has a 12 month low of $18.94 and a 12 month high of $27.98.

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

A number of research firms have recently commented on CIEN. MKM Partners reaffirmed a “buy” rating and issued a $32.00 price objective (up from $30.00) on shares of Ciena Corporation in a research note on Friday, June 2nd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $32.00 price objective (up from $30.00) on shares of Ciena Corporation in a research note on Saturday, June 3rd. Deutsche Bank AG reaffirmed a “hold” rating and issued a $24.00 price objective (up from $23.00) on shares of Ciena Corporation in a research note on Saturday, June 3rd. Instinet reaffirmed a “buy” rating and issued a $30.00 price objective (up from $27.00) on shares of Ciena Corporation in a research note on Saturday, June 3rd. Finally, B. Riley reaffirmed a “buy” rating and issued a $34.00 price objective on shares of Ciena Corporation in a research note on Sunday, June 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $29.79.

In related news, SVP James E. Moylan, Jr. sold 2,000 shares of the company’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $21.78, for a total value of $43,560.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Stephen B. Alexander sold 2,500 shares of the company’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $25.02, for a total transaction of $62,550.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 79,108 shares of company stock worth $1,988,997. 1.45% of the stock is currently owned by company insiders.

Ciena Corporation Company 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.

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.