Ciena Corporation $CIEN Holdings Increased by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC lifted its stake in Ciena Corporation (NYSE:CIEN) by 20.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,483 shares of the communications equipment provider’s stock after acquiring an additional 4,510 shares during the period. EverSource Wealth Advisors LLC’s holdings in Ciena were worth $2,154,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in CIEN. Bayforest Capital Ltd raised its holdings in Ciena by 34.7% during the first 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. Allworth Financial LP boosted its stake in Ciena by 107.5% during the 2nd quarter. Allworth Financial LP now owns 718 shares of the communications equipment provider’s stock valued at $58,000 after purchasing an additional 372 shares in the last quarter. National Bank of Canada FI increased its position in shares of Ciena by 15.4% during the 1st quarter. National Bank of Canada FI now owns 1,147 shares of the communications equipment provider’s stock valued at $69,000 after purchasing an additional 153 shares during the period. Quarry LP increased its position in shares of Ciena by 65.6% during the 1st quarter. Quarry LP now owns 1,593 shares of the communications equipment provider’s stock valued at $96,000 after purchasing an additional 631 shares during the period. Finally, Parkside Financial Bank & Trust raised its stake in shares of Ciena by 82.5% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,203 shares of the communications equipment provider’s stock worth $98,000 after buying an additional 544 shares in the last quarter. Institutional investors and hedge funds own 91.99% of the company’s stock.

Insider Activity

In other Ciena news, Director Bruce L. Claflin sold 8,461 shares of the business’s stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $140.12, for a total transaction of $1,185,555.32. Following the sale, the director directly owned 54,624 shares of the company’s stock, valued at $7,653,914.88. The trade was a 13.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Brodie Gage sold 350 shares of the stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $169.36, for a total value of $59,276.00. Following the completion of the sale, the senior vice president owned 40,653 shares of the company’s stock, valued at $6,884,992.08. The trade was a 0.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 45,135 shares of company stock worth $7,397,518 in the last quarter. Insiders own 0.93% of the company’s stock.

Ciena Trading Up 1.0%

NYSE:CIEN opened at $195.30 on Friday. The stock has a fifty day simple moving average of $179.95 and a 200 day simple moving average of $122.75. The firm has a market capitalization of $27.55 billion, a price-to-earnings ratio of 201.34, a price-to-earnings-growth ratio of 1.22 and a beta of 1.17. Ciena Corporation has a 1-year low of $49.21 and a 1-year high of $214.17. The company has a quick ratio of 2.52, a current ratio of 3.28 and a debt-to-equity ratio of 0.55.

Ciena (NYSE:CIEN) last posted its quarterly earnings data on Thursday, April 6th. The communications equipment provider reported $0.47 EPS for the quarter. Ciena had a net margin of 3.10% and a return on equity of 6.62%. The company had revenue of $844.44 million during the quarter. Sell-side analysts forecast that Ciena Corporation will post 1.6 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CIEN has been the subject of several research reports. UBS Group raised their target price on Ciena from $78.00 to $120.00 and gave the company a “neutral” rating in a research note on Friday, September 5th. Zacks Research downgraded shares of Ciena from a “strong-buy” rating to a “hold” rating in a report on Monday, November 24th. Rosenblatt Securities restated a “buy” rating and set a $175.00 price objective on shares of Ciena in a research report on Thursday. Wall Street Zen cut shares of Ciena from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Ciena in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $156.20.

Ciena 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.