Landscape Capital Management L.L.C. Invests $2.94 Million in Ciena Corporation $CIEN

Landscape Capital Management L.L.C. acquired a new stake in Ciena Corporation (NYSE:CIEN) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 12,584 shares of the communications equipment provider’s stock, valued at approximately $2,943,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Entropy Technologies LP lifted its stake in shares of Ciena by 18.6% in the fourth quarter. Entropy Technologies LP now owns 15,551 shares of the communications equipment provider’s stock valued at $3,637,000 after purchasing an additional 2,443 shares during the period. Ariadne Wealth Management LP lifted its stake in shares of Ciena by 7.8% in the fourth quarter. Ariadne Wealth Management LP now owns 2,187 shares of the communications equipment provider’s stock valued at $511,000 after purchasing an additional 159 shares during the period. Barclays PLC lifted its stake in shares of Ciena by 13.7% in the fourth quarter. Barclays PLC now owns 209,508 shares of the communications equipment provider’s stock valued at $48,998,000 after purchasing an additional 25,242 shares during the period. Atlas Capital Advisors Inc. acquired a new stake in shares of Ciena in the fourth quarter valued at about $70,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Ciena by 95.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,236,835 shares of the communications equipment provider’s stock valued at $523,129,000 after purchasing an additional 1,092,980 shares during the period. Institutional investors and hedge funds own 91.99% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on CIEN shares. Rosenblatt Securities raised their price objective on shares of Ciena from $350.00 to $720.00 and gave the company a “buy” rating in a research note on Friday, June 5th. Needham & Company LLC raised their price objective on shares of Ciena from $470.00 to $600.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. Stifel Nicolaus set a $615.00 price objective on shares of Ciena in a research note on Friday, May 29th. Bank of America raised their price objective on shares of Ciena from $550.00 to $660.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Finally, Citigroup raised their price objective on shares of Ciena from $345.00 to $658.00 and gave the company a “buy” rating in a research note on Monday, May 18th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $530.56.

Insider Buying and Selling at Ciena

In other Ciena news, SVP Brodie Gage sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $405.00, for a total transaction of $2,025,000.00. Following the completion of the transaction, the senior vice president directly owned 46,341 shares in the company, valued at approximately $18,768,105. This trade represents a 9.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Gary B. Smith sold 2,952 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $415.51, for a total transaction of $1,226,585.52. Following the transaction, the chief executive officer owned 281,365 shares of the company’s stock, valued at $116,909,971.15. This trade represents a 1.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 41,222 shares of company stock worth $18,441,027. 0.58% of the stock is owned by corporate insiders.

Ciena Stock Performance

NYSE:CIEN opened at $445.32 on Monday. The company has a current ratio of 2.73, a quick ratio of 2.11 and a debt-to-equity ratio of 0.53. The firm has a 50-day moving average price of $521.49 and a two-hundred day moving average price of $364.89. Ciena Corporation has a twelve month low of $71.72 and a twelve month high of $637.51. The company has a market capitalization of $63.04 billion, a P/E ratio of 148.44 and a beta of 1.24.

Ciena (NYSE:CIEN) last posted its earnings results on Thursday, June 4th. The communications equipment provider reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.18. Ciena had a net margin of 7.87% and a return on equity of 18.15%. The firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period last year, the firm posted $0.42 EPS. The firm’s revenue for the quarter was up 39.5% on a year-over-year basis. As a group, research analysts expect that Ciena Corporation will post 5.4 earnings per share for the current fiscal year.

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.