Ciena Corporation $CIEN Shares Sold by Lmcg Investments LLC

Lmcg Investments LLC cut its stake in Ciena Corporation (NYSE:CIEN) by 3.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,393 shares of the communications equipment provider’s stock after selling 1,748 shares during the quarter. Lmcg Investments LLC’s holdings in Ciena were worth $16,322,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Axxcess Wealth Management LLC boosted its position in shares of Ciena by 23.9% during the third quarter. Axxcess Wealth Management LLC now owns 767 shares of the communications equipment provider’s stock valued at $270,000 after buying an additional 148 shares during the last quarter. Crossmark Global Holdings Inc. raised its position in Ciena by 105.5% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 19,192 shares of the communications equipment provider’s stock valued at $6,752,000 after buying an additional 9,854 shares during the last quarter. Sowell Financial Services LLC raised its position in Ciena by 15.1% in the 3rd quarter. Sowell Financial Services LLC now owns 1,131 shares of the communications equipment provider’s stock valued at $398,000 after buying an additional 148 shares during the last quarter. Integrated Advisors Network LLC purchased a new stake in Ciena in the 3rd quarter valued at $982,000. Finally, Robeco Institutional Asset Management B.V. lifted its position in shares of Ciena by 4.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 332,271 shares of the communications equipment provider’s stock valued at $116,900,000 after purchasing an additional 12,986 shares in the last quarter. Institutional investors own 91.99% of the company’s stock.

Insider Buying and Selling at Ciena

In other news, Director Bruce Claflin sold 2,857 shares of the company’s stock in a transaction on 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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gary Smith sold 2,952 shares of the stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $330.18, for a total value of $974,691.36. Following the transaction, the chief executive officer owned 240,126 shares of the company’s stock, valued at $79,284,802.68. The trade was a 1.21% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 36,014 shares of company stock valued at $13,457,571 in the last quarter. Insiders own 0.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CIEN. Barclays boosted their price target on shares of Ciena from $475.00 to $548.00 and gave the stock an “overweight” rating in a report on Thursday, September 17th. Evercore upgraded shares of Ciena from an “in-line” rating to an “outperform” rating and set a $550.00 price objective for the company in a research note on Monday, September 21st. Rosenblatt Securities reissued a “buy” rating and set a $525.00 target price on shares of Ciena in a research report on Thursday, September 17th. Bank of America restated a “buy” rating on shares of Ciena in a research note on Thursday, August 20th. Finally, Morgan Stanley reaffirmed a “positive” rating on shares of Ciena in a report on Thursday, September 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Ciena presently has a consensus rating of “Moderate Buy” and a consensus price target of $506.11.

Ciena Stock Performance

Shares of CIEN stock opened at $361.11 on Thursday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 3.17 and a current ratio of 3.80. The firm has a market cap of $51.21 billion, a price-to-earnings ratio of 80.60, a P/E/G ratio of 4.75 and a beta of 1.28. Ciena Corporation has a 52 week low of $159.56 and a 52 week high of $637.51. The firm’s 50-day simple moving average is $372.85 and its two-hundred day simple moving average is $439.35.

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

Ciena Profile

Ciena Corporation (NYSE: CIEN) is a networking technology company that provides hardware, software, and services for communications networks. Its solutions help telecommunications carriers, cloud providers, enterprises, government organizations, and research institutions build, manage, and automate high-capacity networks.

The company’s portfolio includes optical networking systems, routing and switching platforms, network automation software, and network management tools. Ciena also offers consulting, implementation, maintenance, and professional services designed to support network planning, deployment, optimization, and ongoing operations.