Foundations Investment Advisors LLC Has $35.96 Million Stock Holdings in Ciena Corporation $CIEN

Foundations Investment Advisors LLC grew its stake in shares of Ciena Corporation (NYSE:CIEN) by 2.3% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 246,846 shares of the communications equipment provider’s stock after acquiring an additional 5,657 shares during the quarter. Foundations Investment Advisors LLC owned about 0.17% of Ciena worth $35,958,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Global Retirement Partners LLC lifted its position in Ciena by 11.1% during the third quarter. Global Retirement Partners LLC now owns 698 shares of the communications equipment provider’s stock worth $102,000 after purchasing an additional 70 shares during the period. Nisa Investment Advisors LLC raised its position in shares of Ciena by 1.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 6,475 shares of the communications equipment provider’s stock valued at $943,000 after buying an additional 80 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Ciena by 2.3% during the 3rd quarter. GAMMA Investing LLC now owns 4,071 shares of the communications equipment provider’s stock worth $593,000 after acquiring an additional 92 shares during the period. Fifth Third Wealth Advisors LLC boosted its position in shares of Ciena by 2.3% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 4,889 shares of the communications equipment provider’s stock worth $712,000 after acquiring an additional 112 shares in the last quarter. Finally, Nwam LLC increased its stake in Ciena by 4.7% in the third quarter. Nwam LLC now owns 2,505 shares of the communications equipment provider’s stock valued at $404,000 after acquiring an additional 113 shares during the last quarter. 91.99% of the stock is owned by institutional investors and hedge funds.

Ciena Stock Performance

Shares of CIEN stock opened at $257.19 on Thursday. The business’s 50-day moving average price is $224.66 and its 200-day moving average price is $165.25. Ciena Corporation has a 12 month low of $49.21 and a 12 month high of $261.13. The firm has a market capitalization of $36.23 billion, a price-to-earnings ratio of 302.58, a PEG ratio of 1.38 and a beta of 1.13. The company has a current ratio of 2.73, a quick ratio of 2.09 and a debt-to-equity ratio of 0.56.

Ciena (NYSE:CIEN) last released its quarterly earnings data on Thursday, December 11th. The communications equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.15. Ciena had a return on equity of 8.38% and a net margin of 2.59%.The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the prior year, the firm posted $0.54 earnings per share. The firm’s revenue was up 20.1% compared to the same quarter last year. Equities research analysts forecast that Ciena Corporation will post 1.6 EPS for the current year.

Insider Activity

In other news, CEO Gary B. Smith sold 83,552 shares of the stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $229.44, for a total value of $19,170,170.88. Following the completion of the sale, the chief executive officer owned 307,885 shares of the company’s stock, valued at approximately $70,641,134.40. This represents a 21.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Joseph Cumello sold 11,929 shares of the company’s stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $229.82, for a total value of $2,741,522.78. Following the completion of the sale, the senior vice president owned 49,475 shares in the company, valued at $11,370,344.50. The trade was a 19.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 167,890 shares of company stock worth $38,277,035. 0.93% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CIEN has been the subject of several recent analyst reports. Evercore ISI set a $240.00 target price on Ciena in a research note on Thursday, December 11th. Argus upped their price objective on Ciena from $135.00 to $280.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. BNP Paribas Exane set a $185.00 target price on Ciena and gave the company an “outperform” rating in a research report on Monday, October 13th. UBS Group boosted their target price on Ciena from $120.00 to $230.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Ciena in a research note on Wednesday, January 21st. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $241.67.

Ciena Company Profile

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.