Navellier & Associates Inc. Buys 4,100 Shares of Ciena Corporation $CIEN

Navellier & Associates Inc. boosted its position in shares of Ciena Corporation (NYSE:CIEN) by 17.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 28,040 shares of the communications equipment provider’s stock after buying an additional 4,100 shares during the quarter. Ciena makes up approximately 1.1% of Navellier & Associates Inc.’s holdings, making the stock its 18th largest holding. Navellier & Associates Inc.’s holdings in Ciena were worth $13,755,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of CIEN. Transamerica Financial Advisors LLC raised its position in shares of Ciena by 71.0% during the fourth quarter. Transamerica Financial Advisors LLC now owns 106 shares of the communications equipment provider’s stock worth $25,000 after acquiring an additional 44 shares during the last quarter. Asset Dedication LLC boosted its holdings in Ciena by 2,100.0% in the first quarter. Asset Dedication LLC now owns 88 shares of the communications equipment provider’s stock valued at $34,000 after acquiring an additional 84 shares during the last quarter. Carolina Wealth Advisors LLC increased its position in Ciena by 57.8% in the second quarter. Carolina Wealth Advisors LLC now owns 71 shares of the communications equipment provider’s stock worth $35,000 after purchasing an additional 26 shares during the period. Truvestments Capital LLC increased its position in Ciena by 45.3% in the fourth quarter. Truvestments Capital LLC now owns 154 shares of the communications equipment provider’s stock worth $36,000 after purchasing an additional 48 shares during the period. Finally, Bogart Wealth LLC raised its holdings in Ciena by 635.7% during the 1st quarter. Bogart Wealth LLC now owns 103 shares of the communications equipment provider’s stock worth $40,000 after purchasing an additional 89 shares during the last quarter. 91.99% of the stock is currently owned by institutional investors.

Ciena News Roundup

Here are the key news stories impacting Ciena this week:

• Positive Sentiment: Ciena enters the earnings report with a reported $7.7 billion backlog, momentum in cloud connectivity and demand for networks supporting artificial-intelligence workloads. These factors could support revenue growth and another earnings beat. Ciena Stock Ahead of Q3 Earnings: Buy, Sell, or Wait for the Results?
• Positive Sentiment: Recent surveys indicate that telecom providers in India, the UAE and Saudi Arabia expect AI-based network services to create new revenue opportunities. The findings reinforce Ciena’s long-term exposure to AI infrastructure spending and optical-network upgrades. Ciena survey: 67% of Indian telcos foresee AI-driven network revenue
• Positive Sentiment: Needham & Company reaffirmed its Buy rating, while analysts expect earnings growth and see potential for Ciena to exceed quarterly expectations. Needham Reaffirms Buy Rating for Ciena
• Neutral Sentiment: The company is scheduled to report third-quarter results shortly. Investors are likely waiting for updated guidance, order trends and evidence that AI-driven demand is translating into shipments and margins. Ciena Expected to Post Quarterly Earnings
• Negative Sentiment: Supply constraints remain a key execution risk. Delays in fulfilling strong demand could limit near-term revenue recognition and offset otherwise favorable AI and cloud trends. Ciena Stock Ahead of Q3 Earnings: Buy, Sell, or Wait for the Results?
• Negative Sentiment: Despite its growth outlook, Ciena trades at a demanding valuation, increasing the risk of profit-taking or a sharp reaction if earnings, guidance or backlog conversion fall short of elevated investor expectations. Is AI Network Demand Rewriting Ciena’s Story?

Ciena Trading Down 5.7%

NYSE:CIEN opened at $377.07 on Friday. Ciena Corporation has a 1-year low of $90.00 and a 1-year high of $637.51. The business’s 50-day moving average price is $415.85 and its two-hundred day moving average price is $435.53. 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 firm has a market capitalization of $53.37 billion, a price-to-earnings ratio of 125.69 and a beta of 1.30.

Ciena (NYSE:CIEN) last posted its earnings results 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 company had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.50 billion. Ciena had a return on equity of 18.15% and a net margin of 7.87%.The company’s revenue for the quarter was up 39.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.42 EPS. On average, equities analysts expect that Ciena Corporation will post 5.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CIEN shares. TD Cowen cut their target price on shares of Ciena from $675.00 to $575.00 and set a “buy” rating on the stock in a research report on Tuesday, August 18th. Argus set a $650.00 price target on shares of Ciena in a research report on Friday, June 5th. UBS Group reissued a “buy” rating on shares of Ciena in a research note on Tuesday, July 28th. Needham & Company LLC restated a “buy” rating and issued a $600.00 price objective on shares of Ciena in a report on Wednesday. Finally, Raymond James Financial raised their price objective on shares of Ciena from $320.00 to $530.00 and gave the company an “outperform” rating in a research note on Thursday, June 4th. Fourteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Ciena currently has an average rating of “Moderate Buy” and an average price target of $527.78.

Insider Buying and Selling at Ciena

In other Ciena news, SVP Joseph Cumello sold 1,586 shares of the stock in a transaction on Friday, June 26th. The shares were sold at an average price of $466.33, for a total value of $739,599.38. Following the sale, the senior vice president directly owned 42,872 shares in the company, valued at approximately $19,992,499.76. This trade represents a 3.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jason Phipps sold 2,629 shares of Ciena stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $466.20, for a total transaction of $1,225,639.80. Following the transaction, the senior vice president directly owned 62,382 shares in the company, valued at approximately $29,082,488.40. This represents a 4.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 25,422 shares of company stock worth $11,638,117 over the last ninety days. 0.58% of the stock is owned by corporate insiders.

Ciena Profile

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.