Signaturefd LLC Acquires 4,587 Shares of Ciena Co. (CIEN)

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Signaturefd LLC increased its holdings in Ciena Co. (NYSE:CIEN) by 484.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,534 shares of the communications equipment provider’s stock after purchasing an additional 4,587 shares during the period. Signaturefd LLC’s holdings in Ciena were worth $147,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CIEN. Municipal Employees Retirement System of Michigan boosted its holdings in Ciena by 4.6% during the first quarter. Municipal Employees Retirement System of Michigan now owns 44,840 shares of the communications equipment provider’s stock valued at $1,161,000 after acquiring an additional 1,960 shares during the period. American International Group Inc. boosted its holdings in Ciena by 0.5% during the second quarter. American International Group Inc. now owns 379,392 shares of the communications equipment provider’s stock valued at $10,058,000 after acquiring an additional 1,962 shares during the period. Arizona State Retirement System boosted its holdings in Ciena by 2.0% during the second quarter. Arizona State Retirement System now owns 99,579 shares of the communications equipment provider’s stock valued at $2,640,000 after acquiring an additional 1,971 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Ciena by 4.9% during the first quarter. PNC Financial Services Group Inc. now owns 43,614 shares of the communications equipment provider’s stock valued at $1,130,000 after buying an additional 2,039 shares during the last quarter. Finally, Mason Street Advisors LLC raised its position in shares of Ciena by 3.1% during the first quarter. Mason Street Advisors LLC now owns 72,487 shares of the communications equipment provider’s stock valued at $1,877,000 after buying an additional 2,189 shares during the last quarter.

CIEN has been the subject of a number of research analyst reports. MKM Partners lowered shares of Ciena to a “buy” rating and set a $32.00 price objective for the company. in a research report on Wednesday, July 18th. Deutsche Bank upped their price objective on shares of Ciena from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Friday, August 31st. Zacks Investment Research raised shares of Ciena from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Tuesday, June 5th. Loop Capital reaffirmed a “buy” rating and set a $36.00 price objective on shares of Ciena in a research report on Thursday, August 30th. Finally, Citigroup upped their price objective on shares of Ciena from $29.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, August 31st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and eighteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $32.41.

NYSE:CIEN opened at $31.06 on Friday. Ciena Co. has a 12-month low of $19.40 and a 12-month high of $32.33. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.97 and a quick ratio of 1.76. The stock has a market capitalization of $4.51 billion, a P/E ratio of 30.13, a price-to-earnings-growth ratio of 1.87 and a beta of 1.36.

Ciena (NYSE:CIEN) last posted its quarterly earnings results on Thursday, August 30th. The communications equipment provider reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.12. Ciena had a net margin of 25.56% and a return on equity of 8.56%. The firm had revenue of $818.82 million during the quarter, compared to analyst estimates of $792.28 million. During the same quarter in the prior year, the business posted $0.51 earnings per share. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. equities analysts predict that Ciena Co. will post 1.09 EPS for the current fiscal year.

In other news, CFO James E. Moylan, Jr. sold 2,152 shares of the firm’s stock in a transaction that occurred on Thursday, June 21st. The shares were sold at an average price of $25.55, for a total transaction of $54,983.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gary B. Smith sold 9,600 shares of the firm’s stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $31.14, for a total transaction of $298,944.00. The disclosure for this sale can be found here. Insiders sold 72,362 shares of company stock valued at $1,961,460 in the last three months. Company insiders own 1.38% of the company’s stock.

Ciena Profile

Ciena Corporation provides hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of voice, video, and data traffic on communications networks worldwide. The company's Networking Platforms segment offers hardware networking solutions optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching.

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Institutional Ownership by Quarter for Ciena (NYSE:CIEN)

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