Polianta Ltd Makes New Investment in Ciena Corporation $CIEN

Polianta Ltd bought a new position in Ciena Corporation (NYSE:CIEN) in the 2nd quarter, Holdings Channel.com reports. The firm bought 4,000 shares of the communications equipment provider’s stock, valued at approximately $1,962,000. Ciena comprises 0.2% of Polianta Ltd’s portfolio, making the stock its 29th largest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in CIEN. Transamerica Financial Advisors LLC boosted its holdings in Ciena by 71.0% in the 4th quarter. Transamerica Financial Advisors LLC now owns 106 shares of the communications equipment provider’s stock valued at $25,000 after purchasing an additional 44 shares in the last quarter. Asset Dedication LLC raised its stake in shares of Ciena by 2,100.0% during the 1st quarter. Asset Dedication LLC now owns 88 shares of the communications equipment provider’s stock worth $34,000 after buying an additional 84 shares in the last quarter. Truvestments Capital LLC lifted its holdings in shares of Ciena by 45.3% in the 4th quarter. Truvestments Capital LLC now owns 154 shares of the communications equipment provider’s stock valued at $36,000 after buying an additional 48 shares during the period. Bogart Wealth LLC lifted its holdings in shares of Ciena by 635.7% in the 1st quarter. Bogart Wealth LLC now owns 103 shares of the communications equipment provider’s stock valued at $40,000 after buying an additional 89 shares during the period. Finally, Acumen Wealth Advisors LLC purchased a new stake in shares of Ciena in the fourth quarter valued at approximately $40,000. Hedge funds and other institutional investors own 91.99% of the company’s stock.

Ciena Stock Performance

CIEN opened at $412.82 on Friday. Ciena Corporation has a 1-year low of $84.41 and a 1-year high of $637.51. The stock has a market cap of $58.43 billion, a P/E ratio of 137.61 and a beta of 1.30. The stock’s 50 day simple moving average is $439.69 and its 200 day simple moving average is $419.26. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.73 and a quick ratio of 2.11.

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

Insider Buying and Selling at Ciena

In related news, CFO Marc D. Graff sold 126 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $466.20, for a total value of $58,741.20. Following the sale, the chief financial officer directly owned 126,955 shares in the company, valued at $59,186,421. The trade was a 0.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction of $1,225,639.80. Following the completion of the sale, the senior vice president owned 62,382 shares in the company, valued at $29,082,488.40. This represents a 4.04% 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. Over the last ninety days, insiders have sold 21,627 shares of company stock worth $10,508,776. Insiders own 0.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CIEN shares. UBS Group reaffirmed a “buy” rating on shares of Ciena in a report on Tuesday, July 28th. B. Riley Financial boosted their target price on shares of Ciena from $283.00 to $531.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 2nd. Barclays upped their price target on shares of Ciena from $372.00 to $607.00 and gave the stock an “overweight” rating in a research note on Friday, June 5th. Rothschild & Co Redburn assumed coverage on shares of Ciena in a report on Friday, May 1st. They issued a “neutral” rating and a $416.00 price target for the company. Finally, Argus set a $650.00 price objective on shares of Ciena in a research note on Friday, June 5th. Thirteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $530.56.

Ciena 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.