BlackRock Inc. Acquires 115,012 Shares of Ciena Co. (CIEN)

BlackRock Inc. lifted its holdings in Ciena Co. (NYSE:CIEN) by 0.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 16,338,058 shares of the communications equipment provider’s stock after buying an additional 115,012 shares during the quarter. BlackRock Inc. owned approximately 11.46% of Ciena worth $510,400,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in shares of Ciena by 5.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,630,051 shares of the communications equipment provider’s stock worth $122,740,000 after buying an additional 224,828 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of Ciena by 52.0% in the 3rd quarter. Alliancebernstein L.P. now owns 4,588,525 shares of the communications equipment provider’s stock worth $143,346,000 after buying an additional 1,568,877 shares during the last quarter. LSV Asset Management lifted its position in shares of Ciena by 4.3% in the 3rd quarter. LSV Asset Management now owns 2,852,237 shares of the communications equipment provider’s stock worth $89,103,000 after buying an additional 117,630 shares during the last quarter. Northern Trust Corp lifted its position in shares of Ciena by 3.2% in the 2nd quarter. Northern Trust Corp now owns 2,276,115 shares of the communications equipment provider’s stock worth $60,341,000 after buying an additional 70,665 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Ciena by 89.4% in the 2nd quarter. Victory Capital Management Inc. now owns 2,153,725 shares of the communications equipment provider’s stock worth $57,095,000 after buying an additional 1,016,354 shares during the last quarter.

CIEN has been the topic of several recent research reports. ValuEngine upgraded shares of Ciena from a “hold” rating to a “buy” rating in a research report on Friday, August 17th. Rosenblatt Securities set a $27.00 price objective on shares of Ciena and gave the company a “hold” rating in a research report on Tuesday, August 28th. BMO Capital Markets reiterated a “buy” rating and issued a $28.00 price objective on shares of Ciena in a research report on Wednesday, August 29th. Loop Capital reiterated a “buy” rating and issued a $36.00 price objective on shares of Ciena in a research report on Thursday, August 30th. Finally, Raymond James lifted their price objective on shares of Ciena from $30.00 to $36.00 and gave the company an “outperform” rating in a research report on Friday, August 31st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the stock. Ciena has an average rating of “Buy” and an average target price of $33.05.

Ciena stock opened at $31.28 on Friday. The stock has a market cap of $4.48 billion, a price-to-earnings ratio of 20.99, a P/E/G ratio of 1.37 and a beta of 1.24. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.76 and a current ratio of 1.97. Ciena Co. has a 52 week low of $20.30 and a 52 week high of $35.04.

In other Ciena news, VP David M. Rothenstein sold 2,000 shares of the firm’s stock in a transaction dated Monday, October 15th. The shares were sold at an average price of $29.15, for a total transaction of $58,300.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP James E. Moylan, Jr. sold 1,963 shares of the firm’s stock in a transaction dated Wednesday, November 14th. The shares were sold at an average price of $33.35, for a total transaction of $65,466.05. The disclosure for this sale can be found here. In the last three months, insiders have sold 80,275 shares of company stock worth $2,512,068. 1.38% of the stock is owned by corporate insiders.

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About Ciena

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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