Banque Cantonale Vaudoise Has $5.31 Million Holdings in Ciena Corporation $CIEN

Banque Cantonale Vaudoise boosted its holdings in Ciena Corporation (NYSE:CIEN) by 43.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 13,669 shares of the communications equipment provider’s stock after acquiring an additional 4,117 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Ciena were worth $5,306,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CIEN. Community Bank N.A. bought a new stake in shares of Ciena during the 3rd quarter valued at approximately $25,000. Transamerica Financial Advisors LLC increased its position in 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 purchasing an additional 44 shares in the last quarter. Assetmark Inc. increased its position in Ciena by 50.4% during the 3rd quarter. Assetmark Inc. now owns 200 shares of the communications equipment provider’s stock worth $29,000 after purchasing an additional 67 shares in the last quarter. Hilltop National Bank bought a new position in Ciena in the 4th quarter valued at approximately $35,000. Finally, Truvestments Capital LLC lifted its stake in Ciena by 45.3% in the 4th quarter. Truvestments Capital LLC now owns 154 shares of the communications equipment provider’s stock valued at $36,000 after purchasing an additional 48 shares during the last quarter. Institutional investors own 91.99% of the company’s stock.

Ciena Stock Performance

NYSE CIEN opened at $461.88 on Thursday. The company has a market capitalization of $65.38 billion, a price-to-earnings ratio of 153.96 and a beta of 1.24. Ciena Corporation has a twelve month low of $76.89 and a twelve month high of $637.51. The stock has a fifty day simple moving average of $518.10 and a 200 day simple moving average of $378.78. The company has a quick ratio of 2.11, a current ratio of 2.73 and a debt-to-equity ratio of 0.53.

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

Insider Activity

In other news, 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 transaction of $9,021,337.20. Following the completion of the transaction, the senior vice president directly owned 68 shares in the company, valued at $27,866.40. This trade represents a 99.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 Ciena stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $457.02, for a total value of $1,349,123.04. Following the completion of the transaction, the chief executive officer directly owned 266,605 shares in the company, valued at approximately $121,843,817.10. This represents a 1.10% 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. Over the last quarter, insiders sold 40,374 shares of company stock valued at $18,324,470. Company insiders own 0.58% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on CIEN. Wolfe Research reaffirmed an “outperform” rating and set a $375.00 target price on shares of Ciena in a research note on Thursday, March 5th. Argus set a $650.00 price target on Ciena in a research note on Friday, June 5th. Rothschild & Co Redburn assumed coverage on Ciena in a report on Friday, May 1st. They set a “neutral” rating and a $416.00 price objective on the stock. Barclays boosted their price objective on Ciena from $372.00 to $607.00 and gave the stock an “overweight” rating in a research report on Friday, June 5th. Finally, Rosenblatt Securities upped their target price on Ciena from $350.00 to $720.00 and gave the stock a “buy” rating in a report on Friday, June 5th. Thirteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $530.56.

About Ciena

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.