Elyxium Wealth LLC Purchases New Position in Ciena Corporation $CIEN

Elyxium Wealth LLC purchased a new stake in Ciena Corporation (NYSE:CIEN) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 11,749,306 shares of the communications equipment provider’s stock, valued at approximately $2,747,810,000. Ciena comprises about 40.7% of Elyxium Wealth LLC’s portfolio, making the stock its 2nd largest holding. Elyxium Wealth LLC owned 0.08% of Ciena at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Hilltop National Bank bought a new position in shares of Ciena in the 4th quarter valued at about $35,000. Community Bank N.A. bought a new stake in Ciena in the third quarter worth about $25,000. Assetmark Inc. lifted its stake in Ciena by 50.4% in the third quarter. Assetmark Inc. now owns 200 shares of the communications equipment provider’s stock worth $29,000 after purchasing an additional 67 shares during the last quarter. Wolff Wiese Magana LLC bought a new stake in Ciena in the fourth quarter worth about $47,000. Finally, Ameritas Advisory Services LLC lifted its stake in Ciena by 104.0% in the third quarter. Ameritas Advisory Services LLC now owns 204 shares of the communications equipment provider’s stock worth $30,000 after purchasing an additional 104 shares during the last quarter. Institutional investors own 91.99% of the company’s stock.

Ciena Stock Performance

Ciena stock opened at $554.26 on Monday. The company has a 50 day moving average price of $454.25 and a 200-day moving average price of $316.08. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.14 and a current ratio of 2.81. Ciena Corporation has a fifty-two week low of $70.77 and a fifty-two week high of $598.84. The company has a market capitalization of $78.37 billion, a PE ratio of 353.04, a P/E/G ratio of 1.81 and a beta of 1.24.

Ciena (NYSE:CIEN) last posted its quarterly earnings results on Thursday, March 5th. The communications equipment provider reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.18. Ciena had a net margin of 4.47% and a return on equity of 12.09%. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the previous year, the firm posted $0.64 earnings per share. The company’s revenue was up 33.1% on a year-over-year basis. As a group, equities analysts forecast that Ciena Corporation will post 5.12 earnings per share for the current year.

Insider Activity

In other news, SVP Jason Phipps sold 22,014 shares of Ciena stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $409.80, for a total transaction of $9,021,337.20. Following the completion of the sale, the senior vice president owned 68 shares of the company’s stock, valued at approximately $27,866.40. The trade was a 99.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Brodie Gage sold 1,200 shares of Ciena stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $471.79, for a total transaction of $566,148.00. Following the sale, the senior vice president directly owned 45,141 shares of the company’s stock, valued at $21,297,072.39. This represents a 2.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 42,974 shares of company stock valued at $17,418,863. Corporate insiders own 0.58% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CIEN. JPMorgan Chase & Co. raised their price objective on shares of Ciena from $380.00 to $550.00 and gave the stock an “overweight” rating in a research note on Thursday, April 16th. Barclays raised their price objective on shares of Ciena from $279.00 to $372.00 and gave the stock an “overweight” rating in a research note on Friday, March 6th. Evercore set a $330.00 price objective on shares of Ciena in a research note on Thursday, February 19th. Wolfe Research reissued an “outperform” rating and issued a $375.00 price objective on shares of Ciena in a research note on Thursday, March 5th. Finally, UBS Group raised their price objective on shares of Ciena from $230.00 to $285.00 and gave the stock a “neutral” rating in a research note on Friday, March 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $381.44.

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.