Foundations Investment Advisors LLC Purchases 26,507 Shares of Ciena Corporation $CIEN

Foundations Investment Advisors LLC increased its holdings in Ciena Corporation (NYSE:CIEN) by 12.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 241,189 shares of the communications equipment provider’s stock after purchasing an additional 26,507 shares during the period. Foundations Investment Advisors LLC owned approximately 0.17% of Ciena worth $19,616,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of CIEN. William Blair Investment Management LLC raised its position in Ciena by 35.0% during the second quarter. William Blair Investment Management LLC now owns 2,708,540 shares of the communications equipment provider’s stock valued at $220,286,000 after purchasing an additional 702,909 shares during the period. Ion Asset Management Ltd. increased its position in shares of Ciena by 6.3% during the 1st quarter. Ion Asset Management Ltd. now owns 1,356,752 shares of the communications equipment provider’s stock valued at $81,989,000 after purchasing an additional 80,426 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in Ciena by 375.4% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,235,696 shares of the communications equipment provider’s stock valued at $100,499,000 after buying an additional 975,792 shares during the period. Nuveen LLC bought a new stake in Ciena in the first quarter worth $70,065,000. Finally, Analog Century Management LP boosted its stake in Ciena by 33.0% during the first quarter. Analog Century Management LP now owns 841,311 shares of the communications equipment provider’s stock worth $50,840,000 after buying an additional 208,509 shares during the period. Institutional investors own 91.99% of the company’s stock.

Ciena Price Performance

NYSE CIEN opened at $191.45 on Friday. The company has a market cap of $27.00 billion, a PE ratio of 197.37, a P/E/G ratio of 2.62 and a beta of 1.17. The firm’s 50 day moving average price is $163.23 and its 200-day moving average price is $111.19. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.52 and a current ratio of 3.28. Ciena Corporation has a 52-week low of $49.21 and a 52-week high of $214.17.

Ciena (NYSE:CIEN) last posted its earnings results on Thursday, April 6th. The communications equipment provider reported $0.47 earnings per share for the quarter. Ciena had a return on equity of 6.62% and a net margin of 3.10%.The company had revenue of $844.44 million during the quarter. Sell-side analysts forecast that Ciena Corporation will post 1.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CIEN. Wall Street Zen downgraded shares of Ciena from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Evercore ISI increased their price objective on shares of Ciena from $120.00 to $200.00 and gave the stock an “in-line” rating in a research report on Monday, November 10th. BNP Paribas set a $185.00 target price on Ciena and gave the company an “outperform” rating in a research report on Monday, October 13th. Zacks Research upgraded Ciena from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 9th. Finally, Bank of America boosted their price objective on Ciena from $135.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, September 17th. Three analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Ciena currently has a consensus rating of “Moderate Buy” and an average price target of $153.20.

Insider Buying and Selling

In related news, SVP Joseph Cumello sold 1,863 shares of the stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $141.14, for a total transaction of $262,943.82. Following the completion of the sale, the senior vice president owned 43,531 shares of the company’s stock, valued at $6,143,965.34. This represents a 4.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Brodie Gage sold 350 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $169.36, for a total transaction of $59,276.00. Following the completion of the sale, the senior vice president owned 40,653 shares of the company’s stock, valued at approximately $6,884,992.08. This trade represents a 0.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 51,824 shares of company stock worth $8,008,263 over the last ninety days. 0.93% of the stock is currently owned by company insiders.

About Ciena

Ciena Corporation provides hardware and software services for delivery of video, data, and voice traffic metro, aggregation, and access communications network worldwide. The company’s Networking Platforms segment offers convergence of coherent optical transport, open optical networking, optical transport network switching, IP routing, and switching services.