Rothschild Investment LLC Lowers Stock Holdings in Ciena Corporation $CIEN

Rothschild Investment LLC trimmed its holdings in shares of Ciena Corporation (NYSE:CIEN) by 88.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,768 shares of the communications equipment provider’s stock after selling 14,180 shares during the period. Rothschild Investment LLC’s holdings in Ciena were worth $413,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Jacobs Levy Equity Management Inc. purchased a new position in Ciena in the 1st quarter worth approximately $395,000. Jones Financial Companies Lllp raised its holdings in Ciena by 139.6% in the 1st quarter. Jones Financial Companies Lllp now owns 5,253 shares of the communications equipment provider’s stock worth $317,000 after acquiring an additional 3,061 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Ciena by 1.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 222,054 shares of the communications equipment provider’s stock worth $13,419,000 after acquiring an additional 3,117 shares during the last quarter. Focus Partners Wealth raised its holdings in Ciena by 14.6% in the 1st quarter. Focus Partners Wealth now owns 5,762 shares of the communications equipment provider’s stock worth $348,000 after acquiring an additional 733 shares during the last quarter. Finally, Franklin Resources Inc. purchased a new position in Ciena in the 2nd quarter worth approximately $234,000. Institutional investors own 91.99% of the company’s stock.

Analysts Set New Price Targets

CIEN has been the subject of a number of recent analyst reports. Needham & Company LLC boosted their price objective on shares of Ciena from $280.00 to $370.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. Barclays boosted their price objective on shares of Ciena from $279.00 to $372.00 and gave the stock an “overweight” rating in a report on Friday, March 6th. Stifel Nicolaus set a $615.00 price objective on shares of Ciena in a report on Friday. Weiss Ratings upgraded shares of Ciena from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, April 27th. Finally, Citigroup boosted their price objective on shares of Ciena from $345.00 to $658.00 and gave the stock a “buy” rating in a report on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Ciena presently has an average rating of “Moderate Buy” and a consensus price target of $406.61.

Ciena Price Performance

Shares of CIEN opened at $580.59 on Friday. The firm has a market cap of $82.09 billion, a PE ratio of 369.80, a P/E/G ratio of 1.90 and a beta of 1.24. The company has a current ratio of 2.81, a quick ratio of 2.14 and a debt-to-equity ratio of 0.55. The firm has a fifty day simple moving average of $500.69 and a two-hundred day simple moving average of $341.74. Ciena Corporation has a 1-year low of $70.77 and a 1-year high of $605.61.

Ciena (NYSE:CIEN) last announced its earnings results on Thursday, March 5th. The communications equipment provider reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.18. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.40 billion. Ciena had a net margin of 4.47% and a return on equity of 12.09%. The company’s quarterly revenue was up 33.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.64 EPS. On average, equities analysts anticipate that Ciena Corporation will post 5.12 EPS for the current year.

Insider Buying and Selling at Ciena

In other Ciena news, SVP Jason Phipps sold 22,014 shares of the business’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $409.80, for a total transaction of $9,021,337.20. Following the completion of the sale, the senior vice president directly owned 68 shares in the company, valued at approximately $27,866.40. The trade was a 99.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gary B. Smith sold 2,952 shares of the business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $562.05, for a total transaction of $1,659,171.60. Following the sale, the chief executive officer owned 272,509 shares of the company’s stock, valued at approximately $153,163,683.45. This represents a 1.07% 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. In the last ninety days, insiders sold 44,174 shares of company stock worth $18,878,661. Insiders own 0.58% of the company’s stock.

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.