Ciena Corporation $CIEN Stock Position Decreased by Hussman Strategic Advisors Inc.

Hussman Strategic Advisors Inc. decreased its holdings in shares of Ciena Corporation (NYSE:CIEN) by 66.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,500 shares of the communications equipment provider’s stock after selling 21,000 shares during the quarter. Hussman Strategic Advisors Inc.’s holdings in Ciena were worth $1,530,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Mather Group LLC. acquired a new stake in shares of Ciena during the 3rd quarter worth approximately $28,000. Salomon & Ludwin LLC acquired a new position in Ciena during the 3rd quarter valued at approximately $31,000. Quent Capital LLC bought a new position in Ciena during the 3rd quarter worth $39,000. Root Financial Partners LLC acquired a new stake in Ciena in the third quarter worth $45,000. Finally, True Wealth Design LLC lifted its stake in Ciena by 3,663.6% in the third quarter. True Wealth Design LLC now owns 414 shares of the communications equipment provider’s stock valued at $60,000 after buying an additional 403 shares during the last quarter. 91.99% of the stock is currently owned by institutional investors and hedge funds.

Ciena Trading Up 3.9%

Ciena stock opened at $257.19 on Thursday. Ciena Corporation has a 12-month low of $49.21 and a 12-month high of $261.13. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.73 and a quick ratio of 2.09. The stock has a market capitalization of $36.23 billion, a PE ratio of 302.58, a price-to-earnings-growth ratio of 1.38 and a beta of 1.13. The firm has a 50 day simple moving average of $224.66 and a 200-day simple moving average of $165.25.

Ciena (NYSE:CIEN) last announced its earnings results on Thursday, December 11th. The communications equipment provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.76 by $0.15. Ciena had a return on equity of 8.38% and a net margin of 2.59%.The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the previous year, the company earned $0.54 earnings per share. The firm’s quarterly revenue was up 20.1% compared to the same quarter last year. As a group, equities research analysts expect that Ciena Corporation will post 1.6 EPS for the current fiscal year.

Analyst Ratings Changes

CIEN has been the subject of several recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of Ciena in a research report on Wednesday, January 21st. Zacks Research raised shares of Ciena from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 23rd. Barclays upped their target price on shares of Ciena from $138.00 to $279.00 and gave the stock an “overweight” rating in a research report on Friday, December 12th. Wall Street Zen cut Ciena from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 21st. Finally, B. Riley reissued a “neutral” rating on shares of Ciena in a report on Friday, December 12th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, Ciena currently has an average rating of “Moderate Buy” and an average price target of $241.67.

Insider Buying and Selling at Ciena

In other news, CEO Gary B. Smith sold 83,552 shares of the firm’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $229.44, for a total transaction of $19,170,170.88. Following the completion of the transaction, the chief executive officer owned 307,885 shares in the company, valued at approximately $70,641,134.40. This trade represents a 21.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Joseph Cumello sold 11,929 shares of Ciena stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $229.82, for a total transaction of $2,741,522.78. Following the completion of the transaction, the senior vice president directly owned 49,475 shares in the company, valued at $11,370,344.50. This represents a 19.43% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 167,890 shares of company stock valued at $38,277,035. Corporate insiders own 0.93% of the company’s stock.

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.