Lazard Asset Management LLC decreased its stake in Ciena Co. (NYSE:CIEN) by 12.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 207,130 shares of the communications equipment provider’s stock after selling 28,553 shares during the period. Lazard Asset Management LLC’s holdings in Ciena were worth $7,734,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Oakbrook Investments LLC raised its stake in shares of Ciena by 4.1% during the first quarter. Oakbrook Investments LLC now owns 10,100 shares of the communications equipment provider’s stock valued at $377,000 after acquiring an additional 400 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Ciena by 29.6% during the first quarter. Parkside Financial Bank & Trust now owns 1,789 shares of the communications equipment provider’s stock valued at $67,000 after acquiring an additional 409 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Ciena by 1.7% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,339 shares of the communications equipment provider’s stock valued at $946,000 after acquiring an additional 426 shares during the last quarter. Advisor Group Inc. raised its stake in shares of Ciena by 3.6% during the fourth quarter. Advisor Group Inc. now owns 12,838 shares of the communications equipment provider’s stock valued at $436,000 after acquiring an additional 444 shares during the last quarter. Finally, Campbell Newman Asset Management Inc. raised its stake in shares of Ciena by 2.5% during the first quarter. Campbell Newman Asset Management Inc. now owns 20,889 shares of the communications equipment provider’s stock valued at $780,000 after acquiring an additional 510 shares during the last quarter. 92.80% of the stock is owned by institutional investors and hedge funds.

CIEN has been the subject of several analyst reports. Nomura raised their price target on shares of Ciena from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. JPMorgan Chase & Co. cut shares of Ciena from a “neutral” rating to an “underweight” rating in a research report on Monday, April 22nd. Citigroup increased their price objective on shares of Ciena to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. BMO Capital Markets increased their price objective on shares of Ciena from $42.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 6th. Finally, UBS Group set a $42.00 price objective on shares of Ciena and gave the stock a “hold” rating in a research report on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $45.83.

In other Ciena news, Director Thomas Michael Nevens sold 7,000 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $34.24, for a total value of $239,680.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gary B. Smith sold 9,600 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $44.38, for a total transaction of $426,048.00. The disclosure for this sale can be found here. Insiders sold 113,504 shares of company stock valued at $4,267,881 over the last 90 days. Corporate insiders own 1.20% of the company’s stock.

NYSE:CIEN opened at $42.75 on Friday. The company has a quick ratio of 2.36, a current ratio of 2.83 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $6.63 billion, a price-to-earnings ratio of 38.17, a P/E/G ratio of 1.43 and a beta of 1.06. Ciena Co. has a 12 month low of $24.56 and a 12 month high of $46.23.

Ciena (NYSE:CIEN) last posted its quarterly earnings results on Thursday, June 6th. The communications equipment provider reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. The business had revenue of $865.00 million during the quarter, compared to analysts’ expectations of $818.23 million. Ciena had a net margin of 5.98% and a return on equity of 12.37%. The business’s quarterly revenue was up 18.5% on a year-over-year basis. During the same period last year, the company posted $0.23 earnings per share. As a group, research analysts anticipate that Ciena Co. will post 1.72 EPS for the current year.

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Ciena Profile

Ciena Corporation provides network hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of video, data, and voice traffic on communications networks worldwide. The company's Networking Platforms segment offers hardware networking solutions optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching.

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Institutional Ownership by Quarter for Ciena (NYSE:CIEN)

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