Ciena Corporation $CIEN Stock Holdings Increased by Calamos Advisors LLC

Calamos Advisors LLC lifted its holdings in Ciena Corporation (NYSE:CIEN) by 95.4% during the third quarter, Holdings Channel reports. The institutional investor owned 43,394 shares of the communications equipment provider’s stock after acquiring an additional 21,191 shares during the quarter. Calamos Advisors LLC’s holdings in Ciena were worth $15,267,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Swiss National Bank boosted its stake in Ciena by 7.0% in the 1st quarter. Swiss National Bank now owns 413,332 shares of the communications equipment provider’s stock worth $160,468,000 after purchasing an additional 26,900 shares during the period. Wealth High Governance Capital Ltda purchased a new stake in Ciena during the 1st quarter valued at approximately $10,883,000. Fifth Third Bancorp raised its position in shares of Ciena by 983.2% during the first quarter. Fifth Third Bancorp now owns 17,168 shares of the communications equipment provider’s stock valued at $6,665,000 after buying an additional 15,583 shares during the last quarter. Plato Investment Management Ltd bought a new stake in shares of Ciena during the second quarter valued at approximately $2,124,000. Finally, Groupe la Francaise bought a new stake in shares of Ciena during the second quarter valued at approximately $11,911,000. 91.99% of the stock is currently owned by institutional investors.

Ciena Stock Up 5.3%

NYSE CIEN opened at $242.93 on Friday. The company has a quick ratio of 3.17, a current ratio of 3.80 and a debt-to-equity ratio of 1.06. Ciena Corporation has a 52 week low of $168.22 and a 52 week high of $637.51. The firm has a market capitalization of $34.45 billion, a price-to-earnings ratio of 54.23, a PEG ratio of 1.95 and a beta of 1.33. The company has a fifty day moving average of $350.63 and a two-hundred day moving average of $402.53.

Ciena (NYSE:CIEN) last issued its earnings results on Thursday, September 3rd. The communications equipment provider reported $2.11 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.38. Ciena had a net margin of 10.87% and a return on equity of 25.33%. The business had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same period in the prior year, the firm earned $0.35 EPS. The company’s revenue for the quarter was up 37.0% compared to the same quarter last year. On average, analysts predict that Ciena Corporation will post 6.00 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have commented on CIEN. TD Cowen reiterated a “buy” rating on shares of Ciena in a research note on Thursday, September 17th. Needham & Company LLC restated a “buy” rating and set a $520.00 price objective on shares of Ciena in a research report on Thursday, September 17th. Sanford C. Bernstein began coverage on Ciena in a report on Wednesday, September 30th. They issued an “outperform” rating and a $440.00 target price on the stock. UBS Group decreased their target price on Ciena from $508.00 to $394.00 and set a “neutral” rating on the stock in a research report on Friday, September 4th. Finally, Rothschild & Co Redburn decreased their target price on Ciena from $538.43 to $406.81 and set a “neutral” rating on the stock in a research report on Monday, September 14th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $485.93.

Insider Activity at Ciena

In other news, EVP Jason Phipps sold 2,629 shares of the business’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $355.19, for a total value of $933,794.51. Following the completion of the transaction, the executive vice president directly owned 57,388 shares of the company’s stock, valued at approximately $20,383,643.72. The trade was a 4.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bruce L. Claflin sold 2,857 shares of the business’s stock in a transaction dated Thursday, September 24th. The stock was sold at an average price of $355.91, for a total transaction of $1,016,834.87. Following the completion of the transaction, the director owned 8,279 shares of the company’s stock, valued at $2,946,578.89. This represents a 25.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 36,014 shares of company stock valued at $13,216,540 over the last quarter. 0.58% of the stock is owned by insiders.

About Ciena

Ciena is a communications networking company that develops equipment, software and services used to build and manage telecommunications networks. Its offerings support the movement of data across fiber-optic, subsea and other network infrastructure.

The company’s products include optical transport systems, routing and switching equipment, and software for network automation and management. Ciena also provides consulting, implementation and support services to help customers plan, deploy and operate their networks.

Founded in 1992 and headquartered in Hanover, Maryland, Ciena serves communications service providers, governments, enterprises and other organizations around the world.