Robeco Institutional Asset Management B.V. Reduces Position in Ciena Corporation $CIEN

Robeco Institutional Asset Management B.V. trimmed its position in Ciena Corporation (NYSE:CIEN) by 96.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,486 shares of the communications equipment provider’s stock after selling 40,811 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Ciena were worth $216,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CIEN. Jacobs Levy Equity Management Inc. acquired a new stake in Ciena in the first quarter valued at $395,000. Jones Financial Companies Lllp increased its holdings in shares of Ciena by 139.6% in the 1st quarter. Jones Financial Companies Lllp now owns 5,253 shares of the communications equipment provider’s stock valued at $317,000 after acquiring an additional 3,061 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Ciena by 1.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 222,054 shares of the communications equipment provider’s stock worth $13,419,000 after acquiring an additional 3,117 shares in the last quarter. Focus Partners Wealth lifted its stake in Ciena by 14.6% during the first quarter. Focus Partners Wealth now owns 5,762 shares of the communications equipment provider’s stock worth $348,000 after purchasing an additional 733 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in Ciena in the first quarter valued at approximately $3,705,000. Institutional investors and hedge funds own 91.99% of the company’s stock.

Ciena Price Performance

Shares of NYSE:CIEN opened at $234.07 on Tuesday. Ciena Corporation has a one year low of $49.21 and a one year high of $261.13. The stock has a market capitalization of $32.97 billion, a price-to-earnings ratio of 275.38, a PEG ratio of 1.28 and a beta of 1.13. The company has a 50-day simple moving average of $214.11 and a 200-day simple moving average of $152.31. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.09 and a current ratio of 2.73.

Ciena (NYSE:CIEN) last released its quarterly earnings results on Thursday, December 11th. The communications equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.15. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.29 billion. Ciena had a return on equity of 8.38% and a net margin of 2.59%.The business’s revenue was up 20.1% on a year-over-year basis. During the same quarter last year, the company posted $0.54 earnings per share. On average, analysts predict that Ciena Corporation will post 1.6 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CIEN. BNP Paribas Exane raised shares of Ciena from a “neutral” rating to an “outperform” rating and set a $185.00 price objective on the stock in a report on Monday, October 13th. Raymond James Financial set a $240.00 price target on shares of Ciena in a research note on Thursday, December 11th. JPMorgan Chase & Co. upped their price objective on shares of Ciena from $215.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 12th. Wall Street Zen lowered Ciena from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 21st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Ciena in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, Ciena has a consensus rating of “Moderate Buy” and a consensus price target of $237.50.

Insider Transactions at Ciena

In related news, CEO Gary B. Smith sold 83,552 shares of the stock in a transaction on Monday, January 5th. The stock was sold at an average price of $229.44, for a total transaction of $19,170,170.88. Following the completion of the sale, the chief executive officer directly owned 307,885 shares of the company’s stock, valued at $70,641,134.40. This trade represents a 21.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas Michael Nevens sold 8,554 shares of Ciena stock in a transaction on Monday, December 15th. The shares were sold at an average price of $224.66, for a total transaction of $1,921,741.64. Following the completion of the transaction, the director owned 9,422 shares in the company, valued at approximately $2,116,746.52. This trade represents a 47.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 127,117 shares of company stock worth $28,068,125 over the last 90 days. 0.93% of the stock is currently owned by insiders.

Ciena Profile

Ciena Corporation (NYSE: CIEN) is a global supplier of telecommunications networking equipment, software and services. The company develops high-capacity optical transport systems and packet-optical platforms that enable service providers, cloud operators and large enterprises to build, manage and scale their networks. Ciena’s product portfolio includes coherent optical solutions, packet networking platforms and a suite of network automation software designed to optimize bandwidth, reduce latency and simplify network operations.

In addition to hardware offerings, Ciena provides professional services and support, including network design, implementation and ongoing maintenance.