Schroder Investment Management Group Has $90.45 Million Stake in Ciena Corporation $CIEN

Schroder Investment Management Group increased its stake in Ciena Corporation (NYSE:CIEN) by 13.5% in the second quarter, Holdings Channel.com reports. The firm owned 1,112,124 shares of the communications equipment provider’s stock after purchasing an additional 132,595 shares during the quarter. Schroder Investment Management Group’s holdings in Ciena were worth $90,449,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Bayforest Capital Ltd raised its stake in shares of Ciena by 34.7% in the 1st quarter. Bayforest Capital Ltd now owns 636 shares of the communications equipment provider’s stock valued at $38,000 after purchasing an additional 164 shares during the period. Allworth Financial LP grew its holdings in shares of Ciena by 107.5% during the second quarter. Allworth Financial LP now owns 718 shares of the communications equipment provider’s stock worth $58,000 after buying an additional 372 shares in the last quarter. National Bank of Canada FI raised its position in Ciena by 15.4% in the 1st quarter. National Bank of Canada FI now owns 1,147 shares of the communications equipment provider’s stock valued at $69,000 after buying an additional 153 shares during the last quarter. Parkside Financial Bank & Trust raised its position in Ciena by 82.5% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,203 shares of the communications equipment provider’s stock valued at $98,000 after buying an additional 544 shares during the last quarter. Finally, MAI Capital Management lifted its stake in Ciena by 21.5% in the 2nd quarter. MAI Capital Management now owns 1,455 shares of the communications equipment provider’s stock valued at $118,000 after acquiring an additional 257 shares in the last quarter. Institutional investors own 91.99% of the company’s stock.

Ciena Stock Up 2.6%

Ciena stock opened at $205.56 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.28 and a quick ratio of 2.52. The company’s 50-day moving average is $175.20 and its 200-day moving average is $119.75. The firm has a market capitalization of $28.99 billion, a PE ratio of 211.91, a P/E/G ratio of 2.62 and a beta of 1.17. Ciena Corporation has a fifty-two week low of $49.21 and a fifty-two week high of $214.17.

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on CIEN shares. Rosenblatt Securities raised shares of Ciena from a “neutral” rating to a “buy” rating and raised their price target for the stock from $127.50 to $175.00 in a research note on Friday, September 26th. B. Riley reaffirmed a “neutral” rating and issued a $113.00 target price (up previously from $90.00) on shares of Ciena in a research report on Friday, September 5th. Morgan Stanley raised shares of Ciena from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $100.00 to $140.00 in a research report on Friday, October 10th. JPMorgan Chase & Co. raised their price objective on Ciena from $105.00 to $140.00 and gave the company an “overweight” rating in a report on Friday, September 5th. Finally, BNP Paribas set a $185.00 target price on Ciena and gave the stock an “outperform” rating in a report on Monday, October 13th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $153.20.

Insiders Place Their Bets

In other Ciena news, Director Bruce L. Claflin sold 8,461 shares of Ciena stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $140.12, for a total transaction of $1,185,555.32. Following the completion of the transaction, the director directly owned 54,624 shares of the company’s stock, valued at $7,653,914.88. The trade was a 13.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Gary B. Smith sold 6,800 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $92.93, for a total transaction of $631,924.00. Following the completion of the transaction, the chief executive officer owned 305,157 shares in the company, valued at approximately $28,358,240.01. This represents a 2.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 51,935 shares of company stock valued at $8,029,442. 0.93% of the stock is owned by insiders.

Ciena 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.