Keybank National Association OH Has $512,000 Holdings in Ciena Corporation $CIEN

Keybank National Association OH cut its holdings in Ciena Corporation (NYSE:CIEN) by 4.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,292 shares of the communications equipment provider’s stock after selling 283 shares during the quarter. Keybank National Association OH’s holdings in Ciena were worth $512,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. National Bank of Canada FI lifted its stake in Ciena by 15.4% in the first quarter. National Bank of Canada FI now owns 1,147 shares of the communications equipment provider’s stock valued at $69,000 after buying an additional 153 shares during the period. Bayforest Capital Ltd lifted its holdings in shares of Ciena by 34.7% in the 1st quarter. Bayforest Capital Ltd now owns 636 shares of the communications equipment provider’s stock worth $38,000 after purchasing an additional 164 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Ciena by 0.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,910 shares of the communications equipment provider’s stock worth $2,351,000 after purchasing an additional 178 shares in the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of Ciena by 0.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 40,000 shares of the communications equipment provider’s stock worth $3,253,000 after purchasing an additional 200 shares in the last quarter. Finally, Forum Financial Management LP lifted its holdings in shares of Ciena by 5.5% in the 2nd quarter. Forum Financial Management LP now owns 3,885 shares of the communications equipment provider’s stock worth $316,000 after purchasing an additional 201 shares in the last quarter. 91.99% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Brodie Gage sold 350 shares of the firm’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $169.36, for a total transaction of $59,276.00. Following the completion of the sale, the senior vice president directly owned 40,653 shares of the company’s stock, valued at $6,884,992.08. This trade represents a 0.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Bruce L. Claflin sold 8,461 shares of the firm’s stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $140.12, for a total value of $1,185,555.32. Following the sale, the director directly owned 54,624 shares of the company’s stock, valued at approximately $7,653,914.88. This represents a 13.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 45,374 shares of company stock valued at $5,936,444. 0.93% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. BNP Paribas set a $185.00 target price on Ciena and gave the stock an “outperform” rating in a report on Monday, October 13th. Wall Street Zen upgraded Ciena from a “hold” rating to a “buy” rating in a report on Friday, September 5th. UBS Group increased their target price on Ciena from $78.00 to $120.00 and gave the stock a “neutral” rating in a report on Friday, September 5th. Rosenblatt Securities upgraded Ciena from a “neutral” rating to a “buy” rating and increased their target price for the stock from $127.50 to $175.00 in a report on Friday, September 26th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Ciena in a report on Wednesday, October 8th. Three analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $137.53.

Ciena Trading Down 3.7%

NYSE CIEN opened at $182.52 on Wednesday. The firm has a market capitalization of $25.75 billion, a P/E ratio of 188.16, a PEG ratio of 2.62 and a beta of 1.15. The business has a fifty day simple moving average of $147.10 and a 200 day simple moving average of $104.09. Ciena Corporation has a 12 month low of $49.21 and a 12 month high of $194.41. The company has a current ratio of 3.28, a quick ratio of 2.52 and a debt-to-equity ratio of 0.55.

Ciena (NYSE:CIEN) last released its quarterly earnings results on Thursday, April 6th. The communications equipment provider reported $0.47 EPS for the quarter. Ciena had a return on equity of 6.62% and a net margin of 3.10%.The business had revenue of $844.44 million during the quarter. On average, analysts predict that Ciena Corporation will post 1.6 EPS for the current fiscal year.

Ciena Company 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.