Systematic Financial Management LP Has $4.68 Million Stock Holdings in Ciena Co. (NYSE:CIEN)

Systematic Financial Management LP trimmed its position in Ciena Co. (NYSE:CIEN) by 0.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,160 shares of the communications equipment provider’s stock after selling 400 shares during the period. Systematic Financial Management LP’s holdings in Ciena were worth $4,678,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC raised its holdings in Ciena by 108.6% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 290 shares of the communications equipment provider’s stock worth $25,000 after buying an additional 151 shares during the period. Bessemer Group Inc. raised its holdings in Ciena by 73.7% during the 4th quarter. Bessemer Group Inc. now owns 356 shares of the communications equipment provider’s stock worth $30,000 after buying an additional 151 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Ciena by 328.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 364 shares of the communications equipment provider’s stock worth $30,000 after buying an additional 279 shares during the period. Atlas Capital Advisors Inc. raised its holdings in Ciena by 77.2% during the 4th quarter. Atlas Capital Advisors Inc. now owns 420 shares of the communications equipment provider’s stock worth $36,000 after buying an additional 183 shares during the period. Finally, Picton Mahoney Asset Management acquired a new stake in Ciena during the 4th quarter worth approximately $41,000. 91.99% of the stock is currently owned by institutional investors and hedge funds.

Ciena Price Performance

NYSE:CIEN opened at $81.22 on Friday. Ciena Co. has a 1-year low of $44.69 and a 1-year high of $101.44. The company has a current ratio of 3.55, a quick ratio of 2.72 and a debt-to-equity ratio of 0.54. The firm has a fifty day simple moving average of $65.40 and a 200 day simple moving average of $74.63. The stock has a market capitalization of $11.54 billion, a PE ratio of 142.49, a P/E/G ratio of 1.54 and a beta of 1.11.

Wall Street Analyst Weigh In

CIEN has been the topic of a number of recent research reports. Needham & Company LLC lowered their price objective on shares of Ciena from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. JPMorgan Chase & Co. lowered their price objective on shares of Ciena from $88.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Northland Securities upgraded shares of Ciena from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $60.00 to $75.00 in a report on Wednesday, March 12th. Rosenblatt Securities lowered their price objective on shares of Ciena from $73.00 to $65.00 and set a “neutral” rating on the stock in a report on Tuesday, April 22nd. Finally, Morgan Stanley lowered their price objective on shares of Ciena from $80.00 to $76.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 12th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $77.62.

Insider Buying and Selling at Ciena

In other Ciena news, CEO Gary B. Smith sold 6,800 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $76.41, for a total value of $519,588.00. Following the transaction, the chief executive officer now directly owns 398,549 shares in the company, valued at $30,453,129.09. The trade was a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Brodie Gage sold 350 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $90.16, for a total transaction of $31,556.00. Following the completion of the sale, the senior vice president now directly owns 49,197 shares of the company’s stock, valued at approximately $4,435,601.52. The trade was a 0.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,138 shares of company stock worth $3,439,211 over the last ninety days. Insiders own 0.93% of the company’s stock.

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.