SWS Partners Has $2.42 Million Stake in Ciena Corporation $CIEN

SWS Partners grew its position in shares of Ciena Corporation (NYSE:CIEN) by 2.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,756 shares of the communications equipment provider’s stock after buying an additional 843 shares during the quarter. SWS Partners’ holdings in Ciena were worth $2,420,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Global Trust Asset Management LLC lifted its holdings in shares of Ciena by 117.3% during the 2nd quarter. Global Trust Asset Management LLC now owns 3,075 shares of the communications equipment provider’s stock valued at $250,000 after buying an additional 1,660 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Ciena by 0.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 47,085 shares of the communications equipment provider’s stock valued at $3,829,000 after buying an additional 240 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Ciena by 34.4% during the 2nd quarter. GAMMA Investing LLC now owns 3,979 shares of the communications equipment provider’s stock valued at $324,000 after buying an additional 1,019 shares during the last quarter. Park Avenue Securities LLC lifted its holdings in shares of Ciena by 10.4% during the 2nd quarter. Park Avenue Securities LLC now owns 46,077 shares of the communications equipment provider’s stock valued at $3,747,000 after buying an additional 4,351 shares during the last quarter. Finally, Sowell Financial Services LLC acquired a new stake in shares of Ciena during the 2nd quarter valued at about $229,000. 91.99% of the stock is currently owned by institutional investors and hedge funds.

Ciena Stock Performance

Shares of NYSE CIEN opened at $142.13 on Monday. The company has a quick ratio of 2.52, a current ratio of 3.28 and a debt-to-equity ratio of 0.55. The business’s 50 day moving average is $105.39 and its two-hundred day moving average is $83.65. The company has a market cap of $20.05 billion, a P/E ratio of 146.53, a P/E/G ratio of 2.01 and a beta of 1.16. Ciena Corporation has a 12 month low of $49.21 and a 12 month high of $143.79.

Analysts Set New Price Targets

CIEN has been the subject of several research reports. Needham & Company LLC lifted their price target on Ciena from $90.00 to $130.00 and gave the company a “buy” rating in a report on Friday, September 5th. Zacks Research raised Ciena from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 9th. Northland Securities set a $100.00 price objective on Ciena in a research note on Monday, June 30th. Evercore ISI raised their price objective on Ciena from $95.00 to $120.00 and gave the company an “in-line” rating in a research note on Thursday, September 4th. Finally, Bank of America raised their price objective on Ciena from $135.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, September 17th. Three analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Ciena has an average rating of “Moderate Buy” and a consensus price target of $122.86.

Insiders Place Their Bets

In other Ciena news, CEO Gary B. Smith sold 6,800 shares of Ciena stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $92.93, for a total value of $631,924.00. Following the transaction, the chief executive officer directly owned 305,157 shares of the company’s stock, valued at $28,358,240.01. The trade was a 2.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Jason Phipps sold 2,325 shares of Ciena stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $80.50, for a total value of $187,162.50. Following the completion of the transaction, the senior vice president directly owned 84,833 shares in the company, valued at approximately $6,829,056.50. This represents a 2.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,186 shares of company stock valued at $4,787,846. Corporate insiders own 0.93% of the company’s stock.

Ciena Company 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.