Lido Advisors LLC Sells 190 Shares of Ciena Co. (NYSE:CIEN)

Lido Advisors LLC lowered its holdings in Ciena Co. (NYSE:CIEN) by 3.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 4,677 shares of the communications equipment provider’s stock after selling 190 shares during the period. Lido Advisors LLC’s holdings in Ciena were worth $397,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CIEN. Vanguard Group Inc. increased its position in shares of Ciena by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 15,316,640 shares of the communications equipment provider’s stock worth $1,299,004,000 after purchasing an additional 139,941 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of Ciena by 0.3% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,236,920 shares of the communications equipment provider’s stock worth $444,143,000 after buying an additional 17,447 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Ciena by 195.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,626,153 shares of the communications equipment provider’s stock valued at $392,345,000 after acquiring an additional 3,062,883 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Ciena by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 2,419,947 shares of the communications equipment provider’s stock worth $205,301,000 after acquiring an additional 11,933 shares in the last quarter. Finally, Northern Trust Corp grew its position in Ciena by 26.2% during the 4th quarter. Northern Trust Corp now owns 1,238,284 shares of the communications equipment provider’s stock worth $105,019,000 after acquiring an additional 257,197 shares during the last quarter. Institutional investors and hedge funds own 91.99% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Gary B. Smith sold 6,800 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $71.90, for a total value of $488,920.00. Following the completion of the transaction, the chief executive officer now directly owns 368,880 shares in the company, valued at approximately $26,522,472. The trade was a 1.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP David M. Rothenstein sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $68.88, for a total transaction of $172,200.00. Following the sale, the senior vice president now owns 207,370 shares in the company, valued at $14,283,645.60. This trade represents a 1.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,288 shares of company stock worth $3,211,852. Company insiders own 0.93% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on CIEN shares. Needham & Company LLC reduced their price objective on Ciena from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, March 12th. Northland Capmk raised shares of Ciena from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 12th. Citigroup lowered their price objective on shares of Ciena from $98.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Rosenblatt Securities decreased their price target on shares of Ciena from $73.00 to $65.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 22nd. Finally, Northland Securities upgraded shares of Ciena from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $60.00 to $75.00 in a research report on Wednesday, March 12th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Ciena has an average rating of “Moderate Buy” and a consensus target price of $77.62.

Ciena Stock Performance

Shares of CIEN stock opened at $72.86 on Tuesday. The stock has a 50-day moving average of $64.45 and a 200-day moving average of $73.94. Ciena Co. has a one year low of $44.69 and a one year high of $101.44. The stock has a market cap of $10.36 billion, a PE ratio of 127.83, a price-to-earnings-growth ratio of 1.54 and a beta of 1.11. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.55 and a quick ratio of 2.72.

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.