Canada Pension Plan Investment Board decreased its holdings in shares of Ciena Corporation (NYSE:CIEN) by 3.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 507,900 shares of the communications equipment provider’s stock after selling 19,800 shares during the quarter. Canada Pension Plan Investment Board owned 0.36% of Ciena Corporation worth $11,159,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in 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 valued at $127,000 after purchasing an additional 517 shares during the last quarter. Fortaleza Asset Management Inc. acquired a new stake in Ciena Corporation during the second quarter valued at $134,000. Advisor Group Inc. boosted its position in Ciena Corporation by 6.4% during the second quarter. Advisor Group Inc. now owns 10,011 shares of the communications equipment provider’s stock valued at $151,000 after purchasing an additional 604 shares during the last quarter. Howe & Rusling Inc. acquired a new stake in Ciena Corporation during the third quarter valued at $158,000. Finally, Acadian Asset Management LLC acquired a new stake in Ciena Corporation during the second quarter valued at $159,000.

A number of analysts recently issued reports on the company. BidaskClub cut Ciena Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Zacks Investment Research cut Ciena Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $32.00 price target on shares of Ciena Corporation in a research report on Friday, July 21st. William Blair reaffirmed a “buy” rating on shares of Ciena Corporation in a research report on Thursday, August 3rd. Finally, Northland Securities set a $32.00 price target on Ciena Corporation and gave the stock a “buy” rating in a research report on Monday, August 7th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. Ciena Corporation currently has a consensus rating of “Buy” and a consensus price target of $29.53.

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Ciena Corporation (CIEN) opened at $19.94 on Friday. Ciena Corporation has a 12 month low of $19.49 and a 12 month high of $27.98. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.50 and a current ratio of 2.92. The stock has a market capitalization of $2,792.41, a PE ratio of 14.18, a P/E/G ratio of 0.72 and a beta of 1.64.

Ciena Corporation (NYSE:CIEN) last issued 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 return on equity of 25.53% and a net margin of 4.99%. The firm had revenue of $728.70 million for the quarter, compared to analyst estimates of $726.81 million. During the same period in the previous year, the company posted $0.42 earnings per share. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. equities analysts anticipate that Ciena Corporation will post 1.51 EPS for the current fiscal year.

In other news, VP Andrew C. Petrik sold 1,258 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $24.44, for a total value of $30,745.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Gary B. Smith sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $23.27, for a total value of $186,160.00. The disclosure for this sale can be found here. Insiders have sold 80,310 shares of company stock worth $1,756,224 over the last 90 days. Corporate insiders own 1.45% of the company’s stock.

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.

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

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