Swiss National Bank lifted its position in shares of Ciena Corporation (NYSE:CIEN) by 2.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 235,300 shares of the communications equipment provider’s stock after purchasing an additional 5,600 shares during the period. Swiss National Bank owned 0.17% of Ciena Corporation worth $5,887,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CIEN. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Ciena Corporation by 11.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,085 shares of the communications equipment provider’s stock worth $127,000 after purchasing an additional 517 shares during the period. Fortaleza Asset Management Inc. bought a new position in shares of Ciena Corporation during the second quarter worth approximately $134,000. Elkfork Partners LLC increased its stake in shares of Ciena Corporation by 12.1% during the first quarter. Elkfork Partners LLC now owns 6,720 shares of the communications equipment provider’s stock worth $159,000 after purchasing an additional 728 shares during the period. Acadian Asset Management LLC bought a new position in shares of Ciena Corporation during the second quarter worth approximately $159,000. Finally, Meadow Creek Investment Management LLC increased its stake in shares of Ciena Corporation by 12.1% during the first quarter. Meadow Creek Investment Management LLC now owns 8,160 shares of the communications equipment provider’s stock worth $193,000 after purchasing an additional 884 shares during the period.

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Ciena Corporation (CIEN) opened at 22.34 on Tuesday. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of 24.44 and a beta of 1.68. The company’s 50-day moving average price is $23.54 and its 200 day moving average price is $24.09. Ciena Corporation has a 12 month low of $18.94 and a 12 month high of $27.98.

Ciena Corporation (NYSE:CIEN) last posted its quarterly earnings results on Thursday, August 31st. The communications equipment provider reported $0.51 earnings per share (EPS) for the quarter, beating the 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 business had revenue of $728.70 million during the quarter, compared to analyst estimates of $726.81 million. During the same period in the prior year, the business posted $0.42 earnings per share. The company’s revenue was up 8.7% on a year-over-year basis. Analysts forecast that Ciena Corporation will post $1.74 EPS for the current fiscal year.

In other news, VP James Frodsham sold 2,119 shares of the company’s stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $25.31, for a total transaction of $53,631.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Scott Mcfeely sold 1,000 shares of the company’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $25.70, for a total transaction of $25,700.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 82,608 shares of company stock valued at $2,048,407. Company insiders own 1.45% of the company’s stock.

A number of equities analysts have recently weighed in on the company. Instinet reiterated 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. BMO Capital Markets reiterated an “outperform” rating and set a $32.00 target price (up previously from $30.00) on shares of Ciena Corporation in a research note on Saturday, June 3rd. Deutsche Bank AG reiterated a “hold” rating and set a $24.00 target price (up previously from $23.00) on shares of Ciena Corporation in a research note on Saturday, June 3rd. MKM Partners reiterated a “buy” rating and set a $32.00 target price (up previously from $30.00) on shares of Ciena Corporation in a research note on Friday, June 2nd. Finally, B. Riley reiterated a “buy” rating and set a $34.00 target price 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 assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Ciena Corporation has an average rating of “Buy” and a consensus target price of $29.79.

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.

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

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