Keystone Investors PTE Ltd. Takes $45.34 Million Position in Ciena Co. (NYSE:CIEN)

Keystone Investors PTE Ltd. acquired a new position in shares of Ciena Co. (NYSE:CIEN) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 534,618 shares of the communications equipment provider’s stock, valued at approximately $45,341,000. Ciena comprises approximately 3.2% of Keystone Investors PTE Ltd.’s holdings, making the stock its 10th biggest position. Keystone Investors PTE Ltd. owned 0.38% of Ciena at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. FMR LLC lifted its stake in shares of Ciena by 0.5% in the 3rd quarter. FMR LLC now owns 21,664,066 shares of the communications equipment provider’s stock valued at $1,334,290,000 after acquiring an additional 108,407 shares during the last quarter. Vanguard Group Inc. raised its position in Ciena by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 15,316,640 shares of the communications equipment provider’s stock valued at $1,299,004,000 after purchasing an additional 139,941 shares during the last quarter. State Street Corp boosted its stake in shares of Ciena by 1.2% during the third quarter. State Street Corp now owns 4,439,478 shares of the communications equipment provider’s stock valued at $273,427,000 after purchasing an additional 53,078 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Ciena by 1.4% during the third quarter. Geode Capital Management LLC now owns 2,408,014 shares of the communications equipment provider’s stock worth $148,348,000 after purchasing an additional 33,074 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Ciena by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 959,831 shares of the communications equipment provider’s stock valued at $81,403,000 after buying an additional 4,315 shares during the period. 91.99% of the stock is owned by institutional investors and hedge funds.

Ciena Stock Up 6.2 %

CIEN stock opened at $69.63 on Tuesday. 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. The stock’s 50 day simple moving average is $80.32 and its 200 day simple moving average is $73.86. The company has a market cap of $9.90 billion, a P/E ratio of 122.16, a price-to-earnings-growth ratio of 1.54 and a beta of 0.91.

Insider Transactions at Ciena

In other news, SVP Brodie Gage sold 350 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $85.91, for a total value of $30,068.50. Following the completion of the sale, the senior vice president now owns 49,547 shares in the company, valued at $4,256,582.77. This represents a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Dino Diperna sold 2,682 shares of the business’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $87.64, for a total transaction of $235,050.48. Following the transaction, the senior vice president now owns 50,607 shares in the company, valued at approximately $4,435,197.48. This trade represents a 5.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,742 shares of company stock valued at $5,469,173 over the last ninety days. 0.93% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have weighed in on CIEN. Needham & Company LLC reduced their target price on shares of Ciena from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Rosenblatt Securities decreased their price objective on Ciena from $94.00 to $79.00 and set a “neutral” rating for the company in a report on Friday, March 7th. B. Riley reaffirmed a “buy” rating and set a $89.00 target price (down from $97.00) on shares of Ciena in a report on Wednesday, March 12th. Stifel Nicolaus reissued a “buy” rating and issued a $82.00 price target (up previously from $75.00) on shares of Ciena in a research note on Tuesday, December 10th. Finally, JPMorgan Chase & Co. raised Ciena from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $84.00 to $88.00 in a research note on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $81.38.

Ciena Profile

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.