Calamos Advisors LLC Buys 5,879 Shares of Ciena Corporation $CIEN

Calamos Advisors LLC grew its stake in shares of Ciena Corporation (NYSE:CIEN) by 40.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 20,543 shares of the communications equipment provider’s stock after buying an additional 5,879 shares during the period. Calamos Advisors LLC’s holdings in Ciena were worth $7,975,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CIEN. Community Bank N.A. bought a new stake in Ciena during the third quarter worth about $25,000. Transamerica Financial Advisors LLC increased its position in shares of Ciena by 71.0% during the 4th quarter. Transamerica Financial Advisors LLC now owns 106 shares of the communications equipment provider’s stock valued at $25,000 after purchasing an additional 44 shares during the last quarter. Hilltop National Bank purchased a new position in shares of Ciena during the 4th quarter valued at about $35,000. Truvestments Capital LLC lifted its position in Ciena by 45.3% in the 4th quarter. Truvestments Capital LLC now owns 154 shares of the communications equipment provider’s stock worth $36,000 after buying an additional 48 shares during the last quarter. Finally, Acumen Wealth Advisors LLC bought a new stake in Ciena in the 4th quarter worth approximately $40,000. 91.99% of the stock is owned by institutional investors.

Insider Transactions at Ciena

In related news, CFO Marc D. Graff sold 126 shares of the firm’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $466.20, for a total value of $58,741.20. Following the completion of the sale, the chief financial officer owned 126,955 shares of the company’s stock, valued at $59,186,421. This trade represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Joseph Cumello sold 1,586 shares of Ciena stock in a transaction on Friday, June 26th. The shares were sold at an average price of $466.33, for a total transaction of $739,599.38. Following the completion of the sale, the senior vice president owned 42,872 shares in the company, valued at approximately $19,992,499.76. This trade represents a 3.57% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 21,627 shares of company stock worth $10,974,985. Corporate insiders own 0.58% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Citigroup increased their price target on shares of Ciena from $345.00 to $658.00 and gave the company a “buy” rating in a research report on Monday, May 18th. Zacks Research raised shares of Ciena from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 2nd. B. Riley Financial increased their target price on shares of Ciena from $283.00 to $531.00 and gave the company a “neutral” rating in a report on Tuesday, June 2nd. JPMorgan Chase & Co. upped their price target on shares of Ciena from $380.00 to $550.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Finally, TD Cowen lifted their price objective on Ciena from $425.00 to $675.00 and gave the stock a “buy” rating in a report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $530.56.

Ciena Stock Performance

Shares of NYSE:CIEN opened at $446.97 on Wednesday. The company has a current ratio of 2.73, a quick ratio of 2.11 and a debt-to-equity ratio of 0.53. The company has a 50-day moving average price of $504.73 and a 200-day moving average price of $401.67. The company has a market cap of $63.27 billion, a price-to-earnings ratio of 148.99 and a beta of 1.27. Ciena Corporation has a 12 month low of $80.83 and a 12 month high of $637.51.

Ciena (NYSE:CIEN) last posted its earnings results on Thursday, June 4th. The communications equipment provider reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.18. Ciena had a return on equity of 18.15% and a net margin of 7.87%.The company had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period last year, the firm earned $0.42 earnings per share. Ciena’s quarterly revenue was up 39.5% on a year-over-year basis. As a group, equities analysts anticipate that Ciena Corporation will post 5.4 EPS for the current year.

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.