Tectonic Advisors LLC Purchases 15,996 Shares of Ciena Co. (NYSE:CIEN)

Tectonic Advisors LLC raised its position in Ciena Co. (NYSE:CIEN) by 27.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 73,838 shares of the communications equipment provider’s stock after buying an additional 15,996 shares during the quarter. Tectonic Advisors LLC owned about 0.05% of Ciena worth $6,262,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Hoese & Co LLP bought a new stake in shares of Ciena during the 3rd quarter valued at approximately $25,000. UMB Bank n.a. grew its holdings in shares of Ciena by 424.4% during the 3rd quarter. UMB Bank n.a. now owns 451 shares of the communications equipment provider’s stock valued at $28,000 after purchasing an additional 365 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of Ciena by 925.0% during the 4th quarter. Versant Capital Management Inc now owns 328 shares of the communications equipment provider’s stock valued at $28,000 after purchasing an additional 296 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Ciena by 152.8% during the 3rd quarter. First Horizon Advisors Inc. now owns 847 shares of the communications equipment provider’s stock valued at $52,000 after purchasing an additional 512 shares during the last quarter. Finally, Kieckhefer Group LLC bought a new stake in shares of Ciena during the 4th quarter valued at approximately $59,000. 91.99% of the stock is owned by institutional investors.

Ciena Price Performance

CIEN opened at $87.85 on Wednesday. The firm has a market cap of $12.49 billion, a P/E ratio of 154.12, a PEG ratio of 1.55 and a beta of 0.88. The firm has a 50-day moving average of $82.70 and a 200 day moving average of $67.84. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.72 and a current ratio of 3.55. Ciena Co. has a fifty-two week low of $43.30 and a fifty-two week high of $101.44.

Ciena (NYSE:CIEN) last posted its quarterly earnings results on Thursday, December 12th. The communications equipment provider reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.12). The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.10 billion. Ciena had a net margin of 2.09% and a return on equity of 4.72%. Ciena’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 EPS. On average, research analysts expect that Ciena Co. will post 1.6 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Bank of America raised shares of Ciena from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $70.00 to $95.00 in a report on Friday, December 13th. Citigroup boosted their price target on shares of Ciena from $84.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Needham & Company LLC restated a “buy” rating and issued a $95.00 price target on shares of Ciena in a research report on Friday, January 10th. Rosenblatt Securities boosted their price target on shares of Ciena from $75.00 to $94.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Finally, Barclays boosted their price target on shares of Ciena from $67.00 to $97.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $78.77.

Insider Buying and Selling at Ciena

In other news, SVP Joseph Cumello sold 1,289 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $68.99, for a total value of $88,928.11. Following the sale, the senior vice president now directly owns 39,486 shares of the company’s stock, valued at approximately $2,724,139.14. This represents a 3.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Bruce L. Claflin sold 16,912 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $84.96, for a total transaction of $1,436,843.52. Following the completion of the sale, the director now directly owns 59,347 shares in the company, valued at approximately $5,042,121.12. The trade was a 22.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 57,581 shares of company stock valued at $4,875,548 over the last three months. 0.83% of the stock is currently owned by 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.