First Trust Advisors LP increased its stake in Ciena Co. (NYSE:CIEN) by 1,791.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,396,801 shares of the communications equipment provider’s stock after acquiring an additional 3,217,184 shares during the quarter. First Trust Advisors LP owned 2.20% of Ciena worth $133,257,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC grew its position in Ciena by 98.5% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 645 shares of the communications equipment provider’s stock valued at $26,000 after purchasing an additional 320 shares during the period. Tobam purchased a new position in Ciena during the 2nd quarter worth $33,000. CENTRAL TRUST Co purchased a new position in Ciena during the 3rd quarter worth $39,000. Coastal Capital Group Inc. purchased a new position in Ciena during the 2nd quarter worth $41,000. Finally, Cullen Frost Bankers Inc. boosted its holdings in Ciena by 48.2% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 1,586 shares of the communications equipment provider’s stock worth $62,000 after acquiring an additional 516 shares during the last quarter. Institutional investors own 88.63% of the company’s stock.

A number of equities research analysts have recently commented on CIEN shares. Nomura reiterated a “buy” rating and set a $43.00 target price (down from $47.00) on shares of Ciena in a research note on Wednesday, October 2nd. Piper Jaffray Companies set a $46.00 price objective on Ciena and gave the company a “hold” rating in a research note on Friday, September 6th. MKM Partners set a $51.00 price objective on Ciena and gave the company a “buy” rating in a research note on Wednesday, September 18th. Stifel Nicolaus set a $54.00 price objective on Ciena and gave the company a “buy” rating in a research note on Friday, September 6th. Finally, ValuEngine cut Ciena from a “buy” rating to a “hold” rating in a research note on Friday, September 6th. Nine equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $48.35.

Shares of CIEN traded up $0.30 during midday trading on Friday, hitting $37.45. 1,676,095 shares of the company traded hands, compared to its average volume of 2,702,497. The stock has a 50-day moving average of $37.86 and a 200-day moving average of $39.91. Ciena Co. has a one year low of $30.33 and a one year high of $46.78. The firm has a market cap of $5.76 billion, a P/E ratio of 33.44, a PEG ratio of 0.94 and a beta of 1.06. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.90 and a quick ratio of 2.45.

Ciena (NYSE:CIEN) last announced its quarterly earnings results on Thursday, September 5th. The communications equipment provider reported $0.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.21. Ciena had a return on equity of 13.64% and a net margin of 6.77%. The firm had revenue of $960.60 million for the quarter, compared to analysts’ expectations of $930.64 million. During the same period in the prior year, the business posted $0.48 earnings per share. The company’s revenue was up 17.3% on a year-over-year basis. Sell-side analysts forecast that Ciena Co. will post 1.88 EPS for the current fiscal year.

In other news, Director Thomas Michael Nevens sold 2,000 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $43.23, for a total transaction of $86,460.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gary B. Smith sold 1,750 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $37.73, for a total value of $66,027.50. The disclosure for this sale can be found here. Insiders have sold 47,688 shares of company stock valued at $1,877,809 in the last three months. 1.20% of the stock is owned by insiders.

Ciena Company 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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