UNICOM Systems Inc. Buys 18,400 Shares of Ciena Corporation $CIEN

UNICOM Systems Inc. raised its stake in Ciena Corporation (NYSE:CIEN) by 109.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,231 shares of the communications equipment provider’s stock after acquiring an additional 18,400 shares during the period. Ciena makes up 1.1% of UNICOM Systems Inc.’s portfolio, making the stock its 20th biggest position. UNICOM Systems Inc.’s holdings in Ciena were worth $17,283,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. SmartHarvest Portfolios LLC boosted its stake in Ciena by 1.8% during the first quarter. SmartHarvest Portfolios LLC now owns 1,142 shares of the communications equipment provider’s stock worth $443,000 after buying an additional 20 shares during the period. Modera Wealth Management LLC raised its stake in shares of Ciena by 1.8% in the first quarter. Modera Wealth Management LLC now owns 1,685 shares of the communications equipment provider’s stock valued at $654,000 after acquiring an additional 29 shares during the period. Whittier Trust Co. raised its stake in shares of Ciena by 9.5% in the first quarter. Whittier Trust Co. now owns 358 shares of the communications equipment provider’s stock valued at $139,000 after acquiring an additional 31 shares during the period. Parallel Advisors LLC lifted its holdings in shares of Ciena by 0.8% in the 4th quarter. Parallel Advisors LLC now owns 5,107 shares of the communications equipment provider’s stock worth $1,194,000 after acquiring an additional 43 shares during the last quarter. Finally, Transamerica Financial Advisors LLC lifted its holdings in shares of Ciena by 71.0% in the 4th 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. 91.99% of the stock is currently owned by institutional investors.

Ciena Price Performance

Ciena stock opened at $412.82 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.73 and a quick ratio of 2.11. The stock has a market cap of $58.43 billion, a price-to-earnings ratio of 137.61 and a beta of 1.30. The firm has a 50-day moving average of $439.69 and a two-hundred day moving average of $419.26. Ciena Corporation has a 1 year low of $84.41 and a 1 year high of $637.51.

Ciena (NYSE:CIEN) last issued its earnings results 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 company’s quarterly revenue was up 39.5% compared to the same quarter last year. During the same period last year, the company posted $0.42 earnings per share. On average, research analysts forecast that Ciena Corporation will post 5.4 earnings per share for the current year.

Analysts Set New Price Targets

CIEN has been the topic of several analyst reports. Northland Securities set a $450.00 price target on shares of Ciena in a report on Friday, June 5th. TD Cowen boosted their target price on Ciena from $425.00 to $675.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Needham & Company LLC reiterated a “buy” rating on shares of Ciena in a report on Tuesday, July 28th. UBS Group reissued a “buy” rating on shares of Ciena in a research note on Tuesday, July 28th. Finally, Bank of America upped their price objective on Ciena from $550.00 to $660.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Thirteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Ciena has an average rating of “Moderate Buy” and an average target price of $530.56.

Insider Buying and Selling at Ciena

In other news, SVP Jason Phipps sold 2,629 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $466.20, for a total transaction of $1,225,639.80. Following the transaction, the senior vice president owned 62,382 shares of the company’s stock, valued at approximately $29,082,488.40. This represents a 4.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Marc D. Graff sold 126 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $466.20, for a total value of $58,741.20. Following the transaction, the chief financial officer owned 126,955 shares in the company, valued at approximately $59,186,421. This represents a 0.10% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 21,627 shares of company stock worth $10,508,776 over the last quarter. Insiders own 0.58% of the company’s stock.

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.