Western Wealth Administration LLC purchased a brand new stake in Ciena Co. (NYSE:CIEN – Get Ranking) within the third quarter, in accordance with its most up-to-date disclosure with the Securities & Alternate Fee. The agency purchased 9,425 shares of the communications gear supplier’s inventory, valued at roughly $383,000.

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Plenty of different hedge funds additionally not too long ago added to or lowered their stakes in CIEN. Capital World Traders acquired a brand new stake in Ciena through the first quarter value roughly $108,564,000. Public Sector Pension Funding Board acquired a brand new place in shares of Ciena within the 2nd quarter valued at $23,252,000. Weiss Multi Technique Advisers LLC boosted its holdings in shares of Ciena by 564.1% within the 1st quarter. Weiss Multi Technique Advisers LLC now owns 499,367 shares of the communications gear supplier’s inventory valued at $30,277,000 after buying an extra 424,173 shares over the past quarter. Natixis acquired a brand new place in shares of Ciena within the 2nd quarter valued at $9,171,000. Lastly, AQR Capital Administration LLC boosted its holdings in shares of Ciena by 72.3% within the 2nd quarter. AQR Capital Administration LLC now owns 477,252 shares of the communications gear supplier’s inventory valued at $21,434,000 after buying an extra 200,297 shares over the past quarter. 96.26% of the inventory is owned by hedge funds and different institutional buyers.

Analysts Set New Worth Targets

CIEN has been the subject of a number of current analysis studies. Loop Capital lifted their goal worth on shares of Ciena from $68.00 to $69.00 in a report on Friday, December ninth. Northland Securities lifted their worth goal on shares of Ciena from $40.00 to $45.00 in a analysis be aware on Friday, December ninth. Evercore ISI lifted their worth goal on shares of Ciena to $55.00 in a analysis be aware on Monday, December twelfth. MKM Companions lifted their worth goal on shares of Ciena from $58.00 to $65.00 and gave the inventory a “purchase” score in a analysis be aware on Friday, December ninth. Lastly, Citigroup lifted their worth goal on shares of Ciena from $55.00 to $65.00 in a analysis be aware on Friday, December ninth. Three equities analysis analysts have rated the inventory with a maintain score and 13 have assigned a purchase score to the corporate. In line with MarketBeat, Ciena presently has a mean score of “Reasonable Purchase” and a consensus goal worth of $63.06.

Ciena Worth Efficiency

Shares of CIEN inventory opened at $50.71 on Tuesday. Ciena Co. has a 12-month low of $38.33 and a 12-month excessive of $71.06. The agency has a market capitalization of $7.53 billion, a price-to-earnings ratio of fifty.71, a price-to-earnings-growth ratio of 1.69 and a beta of 0.93. The corporate has a fast ratio of two.34, a present ratio of three.25 and a debt-to-equity ratio of 0.39. The agency has a fifty day transferring common of $48.86 and a 200-day transferring common of $47.25.

Ciena (NYSE:CIEN – Get Ranking) final introduced its quarterly earnings outcomes on Thursday, December eighth. The communications gear supplier reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.56. The corporate had income of $971.00 million through the quarter, in comparison with analyst estimates of $847.83 million. Ciena had a internet margin of 4.21% and a return on fairness of seven.57%. The agency’s income was down 6.8% on a year-over-year foundation. Throughout the identical quarter within the earlier 12 months, the enterprise earned $0.75 EPS. On common, equities analysis analysts forecast that Ciena Co. will publish 2.02 earnings per share for the present 12 months.

Insiders Place Their Bets

In different Ciena information, VP Andrew C. Petrik offered 1,000 shares of the enterprise’s inventory in a transaction dated Thursday, December fifteenth. The shares had been offered at a mean worth of $49.87, for a complete transaction of $49,870.00. Following the sale, the vice chairman now instantly owns 35,099 shares of the corporate’s inventory, valued at roughly $1,750,387.13. The sale was disclosed in a authorized submitting with the Securities & Alternate Fee, which is obtainable at this hyperlink. In different Ciena information, VP Andrew C. Petrik offered 1,000 shares of the enterprise’s inventory in a transaction dated Thursday, December fifteenth. The shares had been offered at a mean worth of $49.87, for a complete transaction of $49,870.00. Following the sale, the vice chairman now instantly owns 35,099 shares of the corporate’s inventory, valued at roughly $1,750,387.13. The sale was disclosed in a authorized submitting with the Securities & Alternate Fee, which is obtainable at this hyperlink. Additionally, CFO James E. Moylan, Jr. offered 2,000 shares of the corporate’s inventory in a transaction dated Monday, December fifth. The shares had been offered at a mean worth of $44.54, for a complete transaction of $89,080.00. Following the completion of the sale, the chief monetary officer now instantly owns 214,492 shares within the firm, valued at $9,553,473.68. The disclosure for this sale could be discovered right here. Insiders have offered 44,128 shares of firm inventory valued at $2,152,143 within the final three months. 0.94% of the inventory is presently owned by company insiders.

About Ciena

(Get Ranking)

Ciena Company supplies {hardware} and software program providers for supply of video, knowledge, and voice site visitors metro, aggregation, and entry communications community worldwide. The corporate’s Networking Platforms section presents convergence of coherent optical transport, open optical networking, IP routing, and switching providers.

Featured Tales

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This on the spot information alert was generated by narrative science know-how and monetary knowledge from MarketBeat with a view to present readers with the quickest and most correct reporting. This story was reviewed by MarketBeat’s editorial staff previous to publication. Please ship any questions or feedback about this story to [email protected].

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