Dimensional Fund Advisors LP Lowers Holdings in Ciena Co. (CIEN)

Dimensional Fund Advisors LP lessened its stake in Ciena Co. (NYSE:CIEN) by 15.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,926,619 shares of the communications equipment provider’s stock after selling 703,432 shares during the quarter. Dimensional Fund Advisors LP owned about 2.75% of Ciena worth $122,666,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Russell Investments Group Ltd. increased its position in Ciena by 173.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 187,790 shares of the communications equipment provider’s stock valued at $4,973,000 after acquiring an additional 119,231 shares in the last quarter. Capital Fund Management S.A. grew its position in shares of Ciena by 42.3% during the 2nd quarter. Capital Fund Management S.A. now owns 96,750 shares of the communications equipment provider’s stock worth $2,565,000 after buying an additional 28,763 shares during the period. First Trust Advisors LP grew its position in shares of Ciena by 610.6% during the 2nd quarter. First Trust Advisors LP now owns 154,508 shares of the communications equipment provider’s stock worth $4,096,000 after buying an additional 132,765 shares during the period. Advisors Capital Management LLC grew its position in shares of Ciena by 3.6% during the 3rd quarter. Advisors Capital Management LLC now owns 124,106 shares of the communications equipment provider’s stock worth $3,877,000 after buying an additional 4,315 shares during the period. Finally, Jennison Associates LLC grew its position in shares of Ciena by 220.7% during the 2nd quarter. Jennison Associates LLC now owns 66,042 shares of the communications equipment provider’s stock worth $1,751,000 after buying an additional 45,450 shares during the period.

Several brokerages have recently commented on CIEN. MKM Partners lifted their price target on shares of Ciena from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Tuesday, November 20th. Needham & Company LLC cut shares of Ciena from a “buy” rating to a “hold” rating in a research report on Tuesday, November 20th. Zacks Investment Research reiterated a “hold” rating on shares of Ciena in a research report on Monday, November 12th. Stifel Nicolaus began coverage on shares of Ciena in a research report on Tuesday, October 23rd. They set a “buy” rating and a $35.00 price target for the company. Finally, Northland Securities cut shares of Ciena from an “outperform” rating to a “market perform” rating in a research report on Monday, October 1st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $33.05.

Shares of NYSE CIEN opened at $31.28 on Friday. The company has a market cap of $4.60 billion, a P/E ratio of 30.70, a PEG ratio of 1.41 and a beta of 1.24. The company has a quick ratio of 1.76, a current ratio of 1.97 and a debt-to-equity ratio of 0.33. Ciena Co. has a 52-week low of $20.30 and a 52-week high of $35.04.

In related news, CEO Gary B. Smith sold 9,600 shares of the business’s stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $30.57, for a total transaction of $293,472.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP James E. Moylan, Jr. sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 28th. The shares were sold at an average price of $31.74, for a total transaction of $63,480.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 80,275 shares of company stock valued at $2,512,068. Corporate insiders own 1.38% of the company’s stock.

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Ciena Company Profile

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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