UNICOM Systems Inc. Acquires 18,400 Shares of Ciena Corporation $CIEN

UNICOM Systems Inc. boosted its stake in shares of Ciena Corporation (NYSE:CIEN) by 109.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,231 shares of the communications equipment provider’s stock after buying an additional 18,400 shares during the period. Ciena accounts for about 1.1% of UNICOM Systems Inc.’s investment portfolio, making the stock its 20th biggest holding. UNICOM Systems Inc.’s holdings in Ciena were worth $17,283,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Elyxium Wealth LLC purchased a new stake in shares of Ciena during the 4th quarter worth $2,747,810,000. State Street Corp grew its stake in Ciena by 17.2% in the fourth quarter. State Street Corp now owns 5,102,409 shares of the communications equipment provider’s stock valued at $1,193,300,000 after purchasing an additional 750,128 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Ciena by 53.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,051,625 shares of the communications equipment provider’s stock worth $947,554,000 after purchasing an additional 1,404,132 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Ciena by 10.4% during the second quarter. Bank of America Corp DE now owns 3,495,795 shares of the communications equipment provider’s stock valued at $284,313,000 after buying an additional 329,821 shares during the last quarter. Finally, Corient Private Wealth LLC lifted its position in shares of Ciena by 30,114.5% during the fourth quarter. Corient Private Wealth LLC now owns 2,870,677 shares of the communications equipment provider’s stock valued at $671,365,000 after buying an additional 2,861,176 shares during the last quarter. 91.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Ciena

In related news, SVP Jason Phipps sold 2,629 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $466.20, for a total value of $1,225,639.80. Following the transaction, the senior vice president directly owned 62,382 shares of the company’s stock, valued at $29,082,488.40. This represents a 4.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Brodie Gage sold 1,200 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $466.10, for a total value of $559,320.00. Following the completion of the transaction, the senior vice president owned 42,741 shares of the company’s stock, valued at $19,921,580.10. This trade represents a 2.73% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 21,627 shares of company stock worth $10,508,776 over the last 90 days. Insiders own 0.58% of the company’s stock.

Ciena Stock Up 2.2%

NYSE:CIEN opened at $412.82 on Friday. The company has a market cap of $58.43 billion, a PE ratio of 137.61 and a beta of 1.30. Ciena Corporation has a twelve month low of $84.41 and a twelve month high of $637.51. 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’s 50 day moving average is $439.69 and its two-hundred day moving average is $419.26.

Ciena (NYSE:CIEN) last posted its quarterly earnings results on Thursday, June 4th. The communications equipment provider reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.18. The business had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Ciena had a net margin of 7.87% and a return on equity of 18.15%. The business’s quarterly revenue was up 39.5% on a year-over-year basis. During the same quarter last year, the company posted $0.42 earnings per share. Analysts anticipate that Ciena Corporation will post 5.4 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CIEN shares. Zacks Research downgraded shares of Ciena from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 3rd. Argus set a $650.00 target price on shares of Ciena in a research report on Friday, June 5th. Weiss Ratings downgraded shares of Ciena from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, July 24th. Barclays lifted their price target on shares of Ciena from $372.00 to $607.00 and gave the stock an “overweight” rating in a report on Friday, June 5th. Finally, Raymond James Financial upped their price target on Ciena from $320.00 to $530.00 and gave the stock an “outperform” rating in a research report on Thursday, June 4th. Thirteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $530.56.

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.