Himension Capital Singapore PTE. LTD. Has $553,000 Holdings in Ciena Corporation $CIEN

Himension Capital Singapore PTE. LTD. lowered its holdings in Ciena Corporation (NYSE:CIEN) by 66.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,424 shares of the communications equipment provider’s stock after selling 2,760 shares during the quarter. Himension Capital Singapore PTE. LTD.’s holdings in Ciena were worth $553,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Bogart Wealth LLC lifted its holdings in Ciena by 635.7% during the 1st quarter. Bogart Wealth LLC now owns 103 shares of the communications equipment provider’s stock worth $40,000 after buying an additional 89 shares in the last quarter. Transamerica Financial Advisors LLC raised its position in shares of Ciena by 71.0% during the fourth quarter. Transamerica Financial Advisors LLC now owns 106 shares of the communications equipment provider’s stock worth $25,000 after acquiring an additional 44 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Ciena by 85.5% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 141 shares of the communications equipment provider’s stock valued at $55,000 after acquiring an additional 65 shares during the period. Truvestments Capital LLC lifted its stake in shares of Ciena by 45.3% during the fourth quarter. Truvestments Capital LLC now owns 154 shares of the communications equipment provider’s stock valued at $36,000 after acquiring an additional 48 shares during the period. Finally, Ascentis Independent Advisors bought a new position in Ciena in the first quarter valued at about $65,000. Institutional investors own 91.99% of the company’s stock.

Analyst Upgrades and Downgrades

CIEN has been the subject of several recent research reports. Needham & Company LLC reiterated a “buy” rating and set a $600.00 target price on shares of Ciena in a research report on Tuesday, June 23rd. Raymond James Financial upped their price objective on Ciena from $320.00 to $530.00 and gave the company an “outperform” rating in a report on Thursday, June 4th. Northland Securities set a $450.00 target price on Ciena in a report on Friday, June 5th. Argus set a $650.00 target price on Ciena in a research report on Friday, June 5th. Finally, B. Riley Financial increased their price target on shares of Ciena from $283.00 to $531.00 and gave the company a “neutral” rating in a research report on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $530.56.

Ciena Stock Up 7.7%

Ciena stock opened at $407.89 on Wednesday. The company has a 50 day moving average of $487.72 and a 200-day moving average of $407.13. The company has a quick ratio of 2.11, a current ratio of 2.73 and a debt-to-equity ratio of 0.53. Ciena Corporation has a twelve month low of $83.20 and a twelve month high of $637.51. The stock has a market capitalization of $57.74 billion, a PE ratio of 135.96 and a beta of 1.27.

Ciena (NYSE:CIEN) last issued its quarterly earnings data on Thursday, June 4th. The communications equipment provider reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.18. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.50 billion. Ciena had a net margin of 7.87% and a return on equity of 18.15%. The firm’s quarterly revenue was up 39.5% on a year-over-year basis. During the same period last year, the business posted $0.42 earnings per share. On average, equities research analysts anticipate that Ciena Corporation will post 5.4 EPS for the current fiscal year.

Insider Activity

In other news, SVP Jason Phipps sold 2,629 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $466.20, for a total value of $1,225,639.80. Following the sale, the senior vice president directly owned 62,382 shares in the company, valued at $29,082,488.40. The trade was a 4.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Joseph Cumello sold 1,586 shares of the company’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $466.33, for a total value of $739,599.38. Following the transaction, the senior vice president directly owned 42,872 shares of the company’s stock, valued at $19,992,499.76. This represents a 3.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 21,627 shares of company stock worth $10,974,985. 0.58% of the stock is currently owned by insiders.

About Ciena

Ciena Corporation (NYSE: CIEN) is a global supplier of telecommunications networking equipment, software and services. The company develops high-capacity optical transport systems and packet-optical platforms that enable service providers, cloud operators and large enterprises to build, manage and scale their networks. Ciena’s product portfolio includes coherent optical solutions, packet networking platforms and a suite of network automation software designed to optimize bandwidth, reduce latency and simplify network operations.

In addition to hardware offerings, Ciena provides professional services and support, including network design, implementation and ongoing maintenance.