Washington Capital Management Inc. Takes Position in Ciena Co. (NYSE:CIEN)

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Washington Capital Management Inc. bought a new stake in shares of Ciena Co. (NYSE:CIEN) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 8,600 shares of the communications equipment provider’s stock, valued at approximately $354,000.

Other institutional investors have also modified their holdings of the company. Flagship Harbor Advisors LLC boosted its position in Ciena by 98.5% in the second quarter. Flagship Harbor Advisors LLC now owns 645 shares of the communications equipment provider’s stock valued at $26,000 after buying an additional 320 shares in the last quarter. Mizuho Securities Co. Ltd. acquired a new position in Ciena in the first quarter valued at about $37,000. Investors Research Corp acquired a new position in Ciena in the first quarter valued at about $39,000. Coastal Capital Group Inc. acquired a new position in Ciena in the second quarter valued at about $41,000. Finally, FinTrust Capital Advisors LLC acquired a new position in Ciena in the first quarter valued at about $57,000. Institutional investors and hedge funds own 88.05% of the company’s stock.

In other Ciena news, CEO Gary B. Smith sold 9,600 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $44.38, for a total value of $426,048.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas Michael Nevens sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $43.40, for a total transaction of $86,800.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 88,789 shares of company stock valued at $3,825,067. 1.20% of the stock is currently owned by insiders.

Shares of CIEN traded down $1.18 on Friday, reaching $40.01. 1,907,494 shares of the company’s stock were exchanged, compared to its average volume of 1,694,336. The company has a current ratio of 2.83, a quick ratio of 2.36 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $6.39 billion, a P/E ratio of 35.72, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11. The business has a 50 day moving average price of $43.33 and a two-hundred day moving average price of $40.13. Ciena Co. has a 12 month low of $27.21 and a 12 month high of $46.78.

Ciena (NYSE:CIEN) last posted its quarterly earnings results on Thursday, June 6th. The communications equipment provider reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.07. The business had revenue of $865.00 million during the quarter, compared to the consensus estimate of $818.23 million. Ciena had a net margin of 5.98% and a return on equity of 12.37%. Ciena’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.23 earnings per share. Equities research analysts predict that Ciena Co. will post 1.74 EPS for the current year.

A number of equities analysts have commented on CIEN shares. Stifel Nicolaus boosted their price target on shares of Ciena from $46.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, June 7th. MKM Partners boosted their price target on shares of Ciena to $54.00 and gave the company a “buy” rating in a research report on Friday, June 7th. B. Riley boosted their target price on shares of Ciena from $48.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. Goldman Sachs Group boosted their target price on shares of Ciena from $45.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. Finally, Northland Securities reaffirmed a “buy” rating and issued a $42.00 target price on shares of Ciena in a research note on Wednesday, June 5th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $46.71.

Ciena Profile

Ciena Corporation provides network hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of video, data, and voice 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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