Amanah Holdings Trust Makes New $46.77 Million Investment in Ciena Corporation $CIEN

Amanah Holdings Trust purchased a new position in shares of Ciena Corporation (NYSE:CIEN) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 200,000 shares of the communications equipment provider’s stock, valued at approximately $46,774,000. Ciena makes up 6.9% of Amanah Holdings Trust’s portfolio, making the stock its 7th biggest position.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Community Bank N.A. bought a new stake in shares of Ciena in the third quarter worth $25,000. Transamerica Financial Advisors LLC boosted its holdings in Ciena by 71.0% during the fourth quarter. Transamerica Financial Advisors LLC now owns 106 shares of the communications equipment provider’s stock worth $25,000 after purchasing an additional 44 shares during the last quarter. Assetmark Inc. grew its position in Ciena by 50.4% in the third quarter. Assetmark Inc. now owns 200 shares of the communications equipment provider’s stock valued at $29,000 after purchasing an additional 67 shares in the last quarter. Ameritas Advisory Services LLC grew its position in Ciena by 104.0% in the third quarter. Ameritas Advisory Services LLC now owns 204 shares of the communications equipment provider’s stock valued at $30,000 after purchasing an additional 104 shares in the last quarter. Finally, Hilltop National Bank acquired a new stake in Ciena in the 4th quarter valued at $35,000. 91.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on CIEN. Stifel Nicolaus set a $615.00 target price on Ciena in a report on Friday, May 29th. Rosenblatt Securities upped their price objective on Ciena from $350.00 to $720.00 and gave the stock a “buy” rating in a research note on Friday, June 5th. Argus set a $650.00 price objective on shares of Ciena in a research report on Friday, June 5th. Barclays boosted their price objective on shares of Ciena from $372.00 to $607.00 and gave the stock an “overweight” rating in a research note on Friday, June 5th. Finally, Rothschild & Co Redburn initiated coverage on Ciena in a research report on Friday, May 1st. They set a “neutral” rating and a $416.00 price target on the stock. Thirteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $530.56.

Ciena Trading Down 2.0%

Shares of Ciena stock opened at $428.02 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.11 and a current ratio of 2.73. The firm has a 50-day moving average of $521.05 and a 200-day moving average of $371.61. Ciena Corporation has a 52-week low of $73.55 and a 52-week high of $637.51. The stock has a market cap of $60.59 billion, a PE ratio of 142.67 and a beta of 1.24.

Ciena (NYSE:CIEN) last released its quarterly earnings results on Thursday, June 4th. The communications equipment provider reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.18. Ciena had a net margin of 7.87% and a return on equity of 18.15%. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period last year, the firm earned $0.42 earnings per share. Ciena’s revenue for the quarter was up 39.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Ciena Corporation will post 5.4 EPS for the current year.

Insider Activity

In other Ciena news, SVP Brodie Gage sold 1,200 shares of Ciena stock in a transaction on Monday, June 15th. The stock was sold at an average price of $466.10, for a total value of $559,320.00. Following the completion of the transaction, the senior vice president directly owned 42,741 shares of the company’s stock, valued at $19,921,580.10. The trade was a 2.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gary B. Smith sold 2,952 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $457.02, for a total value of $1,349,123.04. Following the sale, the chief executive officer owned 266,605 shares of the company’s stock, valued at approximately $121,843,817.10. The trade was a 1.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 45,374 shares of company stock worth $20,349,470. Corporate insiders own 0.58% of the company’s stock.

Ciena Company 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.