Ciena Corporation $CIEN Shares Acquired by Hel Ved Capital Management Ltd

Hel Ved Capital Management Ltd increased its stake in Ciena Corporation (NYSE:CIEN) by 134.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 70,085 shares of the communications equipment provider’s stock after buying an additional 40,145 shares during the quarter. Ciena comprises about 4.4% of Hel Ved Capital Management Ltd’s holdings, making the stock its 5th biggest position. Hel Ved Capital Management Ltd’s holdings in Ciena were worth $16,391,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. KBC Group NV lifted its holdings in Ciena by 11.3% in the fourth quarter. KBC Group NV now owns 31,161 shares of the communications equipment provider’s stock worth $7,288,000 after purchasing an additional 3,156 shares during the period. FengHe Fund Management Pte. Ltd. lifted its holdings in Ciena by 164.0% in the fourth quarter. FengHe Fund Management Pte. Ltd. now owns 660,988 shares of the communications equipment provider’s stock worth $154,585,000 after purchasing an additional 410,588 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Ciena by 53.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 445,359 shares of the communications equipment provider’s stock worth $104,156,000 after purchasing an additional 155,712 shares during the period. Peak Financial Advisors LLC lifted its holdings in Ciena by 222.7% in the fourth quarter. Peak Financial Advisors LLC now owns 11,596 shares of the communications equipment provider’s stock worth $2,712,000 after purchasing an additional 8,003 shares during the period. Finally, DNB Asset Management AS lifted its holdings in Ciena by 1,095.8% in the fourth quarter. DNB Asset Management AS now owns 27,527 shares of the communications equipment provider’s stock worth $6,438,000 after purchasing an additional 25,225 shares during the period. Institutional investors and hedge funds own 91.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CIEN. Evercore set a $330.00 price objective on shares of Ciena in a report on Thursday, February 19th. B. Riley Financial upped their price target on shares of Ciena from $283.00 to $531.00 and gave the company a “neutral” rating in a report on Tuesday, June 2nd. Zacks Research downgraded shares of Ciena from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 3rd. Stifel Nicolaus set a $615.00 price target on shares of Ciena in a report on Friday, May 29th. Finally, Morgan Stanley upped their price target on shares of Ciena from $405.00 to $490.00 and gave the company an “equal weight” rating in a report on Friday, June 5th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $530.56.

Insider Activity

In other news, SVP Brodie Gage sold 5,000 shares of the company’s stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $405.00, for a total value of $2,025,000.00. Following the transaction, the senior vice president owned 46,341 shares in the company, valued at $18,768,105. This represents a 9.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Jason Phipps sold 22,014 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $409.80, for a total value of $9,021,337.20. Following the completion of the transaction, the senior vice president owned 68 shares in the company, valued at $27,866.40. This represents a 99.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 44,174 shares of company stock worth $19,502,359 in the last 90 days. Company insiders own 0.58% of the company’s stock.

Ciena Price Performance

NYSE CIEN opened at $445.32 on Friday. The stock’s 50-day moving average price is $521.49 and its two-hundred day moving average price is $363.71. The company has a current ratio of 2.73, a quick ratio of 2.11 and a debt-to-equity ratio of 0.53. The company has a market cap of $63.04 billion, a PE ratio of 148.44 and a beta of 1.24. Ciena Corporation has a 1 year low of $71.72 and a 1 year high of $637.51.

Ciena (NYSE:CIEN) last posted 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 for the quarter, compared to the consensus estimate of $1.50 billion. Ciena had a return on equity of 18.15% and a net margin of 7.87%.The business’s revenue for the quarter was up 39.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.42 EPS. On average, analysts predict that Ciena Corporation will post 5.41 EPS for the current year.

About Ciena

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.