Banque Transatlantique SA Takes Position in Ciena Corporation $CIEN

Banque Transatlantique SA purchased a new stake in shares of Ciena Corporation (NYSE:CIEN) during the fourth quarter, Holdings Channel.com reports. The fund purchased 2,957 shares of the communications equipment provider’s stock, valued at approximately $692,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CIEN. Parallel Advisors LLC grew its position in Ciena by 0.8% in the 4th quarter. Parallel Advisors LLC now owns 5,107 shares of the communications equipment provider’s stock worth $1,194,000 after purchasing an additional 43 shares in the last quarter. Transamerica Financial Advisors LLC lifted its position in shares of Ciena by 71.0% during the 4th quarter. Transamerica Financial Advisors LLC now owns 106 shares of the communications equipment provider’s stock worth $25,000 after buying an additional 44 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Ciena by 2.9% during the 4th quarter. UMB Bank n.a. now owns 1,629 shares of the communications equipment provider’s stock worth $381,000 after buying an additional 46 shares in the last quarter. Truvestments Capital LLC boosted its stake in shares of Ciena by 45.3% in the 4th quarter. Truvestments Capital LLC now owns 154 shares of the communications equipment provider’s stock worth $36,000 after buying an additional 48 shares during the last quarter. Finally, Kera Capital Partners Inc. boosted its stake in shares of Ciena by 2.7% in the 4th quarter. Kera Capital Partners Inc. now owns 2,026 shares of the communications equipment provider’s stock worth $510,000 after buying an additional 54 shares during the last quarter. 91.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Ciena news, SVP Brodie Gage sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $405.00, for a total value of $2,025,000.00. Following the completion of the transaction, the senior vice president owned 46,341 shares in the company, valued at $18,768,105. This trade represents a 9.74% 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 Jason Phipps sold 22,014 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $409.80, for a total value of $9,021,337.20. Following the completion of the transaction, the senior vice president owned 68 shares of the company’s stock, valued at approximately $27,866.40. This represents a 99.69% decrease in their position. 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 three months, insiders sold 45,374 shares of company stock worth $20,349,470. 0.58% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Stifel Nicolaus set a $615.00 price target on Ciena in a research report on Friday, May 29th. TD Cowen boosted their price objective on Ciena from $425.00 to $675.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Argus set a $650.00 price objective on Ciena in a research note on Friday, June 5th. UBS Group raised their target price on Ciena from $285.00 to $508.00 and gave the company a “neutral” rating in a research report on Friday, June 5th. Finally, Rothschild & Co Redburn began coverage on Ciena in a research note on Friday, May 1st. They set a “neutral” rating and a $416.00 target price on the stock. Thirteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $530.56.

Ciena Stock Down 2.0%

Ciena stock opened at $428.02 on Friday. Ciena Corporation has a 1-year low of $73.55 and a 1-year high of $637.51. The firm has a market capitalization of $60.59 billion, a price-to-earnings ratio of 142.67 and a beta of 1.24. 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 simple moving average of $521.05 and a 200 day simple moving average of $371.61.

Ciena (NYSE:CIEN) last issued its earnings results on Thursday, June 4th. The communications equipment provider reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.18. The business had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Ciena had a net margin of 7.87% and a return on equity of 18.15%. The business’s revenue for the quarter was up 39.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.42 EPS. On average, analysts predict that Ciena Corporation will post 5.4 earnings per share for the current year.

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.