Andar Capital Management HK Ltd Sells 17,690 Shares of Ciena Corporation $CIEN

Andar Capital Management HK Ltd cut its holdings in Ciena Corporation (NYSE:CIEN) by 37.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,000 shares of the communications equipment provider’s stock after selling 17,690 shares during the period. Ciena comprises 2.9% of Andar Capital Management HK Ltd’s holdings, making the stock its 14th largest holding. Andar Capital Management HK Ltd’s holdings in Ciena were worth $2,440,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. M&T Bank Corp grew its position in Ciena by 16.3% in the first quarter. M&T Bank Corp now owns 9,765 shares of the communications equipment provider’s stock worth $590,000 after acquiring an additional 1,365 shares in the last quarter. Cerity Partners LLC raised its position in Ciena by 25.5% during the first quarter. Cerity Partners LLC now owns 61,446 shares of the communications equipment provider’s stock valued at $3,713,000 after purchasing an additional 12,494 shares during the period. Stephens Inc. AR lifted its stake in shares of Ciena by 21.8% in the 1st quarter. Stephens Inc. AR now owns 5,451 shares of the communications equipment provider’s stock valued at $329,000 after purchasing an additional 975 shares during the last quarter. First Business Financial Services Inc. boosted its holdings in shares of Ciena by 8.1% in the 1st quarter. First Business Financial Services Inc. now owns 24,301 shares of the communications equipment provider’s stock worth $1,469,000 after purchasing an additional 1,827 shares during the period. Finally, Tectonic Advisors LLC boosted its holdings in shares of Ciena by 24.0% in the 1st quarter. Tectonic Advisors LLC now owns 91,547 shares of the communications equipment provider’s stock worth $5,532,000 after purchasing an additional 17,709 shares during the period. 91.99% of the stock is currently owned by hedge funds and other institutional investors.

Ciena Trading Down 0.9%

CIEN stock opened at $206.86 on Wednesday. Ciena Corporation has a 12 month low of $49.21 and a 12 month high of $214.17. The firm’s 50-day moving average is $157.90 and its 200 day moving average is $109.03. The company has a market capitalization of $29.18 billion, a PE ratio of 213.26, a P/E/G ratio of 2.62 and a beta of 1.17. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.28 and a quick ratio of 2.52.

Ciena (NYSE:CIEN) last released its quarterly earnings data on Thursday, April 6th. The communications equipment provider reported $0.47 earnings per share (EPS) for the quarter. The company had revenue of $844.44 million during the quarter. Ciena had a net margin of 3.10% and a return on equity of 6.62%. On average, research analysts anticipate that Ciena Corporation will post 1.6 EPS for the current year.

Insider Transactions at Ciena

In other Ciena news, SVP Brodie Gage sold 350 shares of the company’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $169.36, for a total value of $59,276.00. Following the completion of the sale, the senior vice president directly owned 40,653 shares in the company, valued at approximately $6,884,992.08. This represents a 0.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bruce L. Claflin sold 8,461 shares of the stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $140.12, for a total value of $1,185,555.32. Following the transaction, the director directly owned 54,624 shares in the company, valued at $7,653,914.88. The trade was a 13.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 52,174 shares of company stock worth $7,231,504 over the last three months. Company insiders own 0.93% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CIEN. Morgan Stanley upgraded Ciena from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $100.00 to $140.00 in a research report on Friday, October 10th. JPMorgan Chase & Co. increased their target price on shares of Ciena from $105.00 to $140.00 and gave the company an “overweight” rating in a research note on Friday, September 5th. Wall Street Zen lowered shares of Ciena from a “strong-buy” rating to a “buy” rating in a report on Saturday. Rosenblatt Securities upgraded shares of Ciena from a “neutral” rating to a “buy” rating and upped their price target for the company from $127.50 to $175.00 in a report on Friday, September 26th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Ciena in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Ciena currently has a consensus rating of “Moderate Buy” and a consensus target price of $153.20.

Ciena Company Profile

Ciena Corporation provides hardware and software services for delivery of video, data, and voice traffic metro, aggregation, and access communications network worldwide. The company’s Networking Platforms segment offers convergence of coherent optical transport, open optical networking, optical transport network switching, IP routing, and switching services.