Bristol John W & Co. Inc. NY Purchases Shares of 5,300 Ciena Co. (CIEN)
Bristol John W & Co. Inc. NY purchased a new position in shares of Ciena Co. (NYSE:CIEN) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,300 shares of the communications equipment provider’s stock, valued at approximately $137,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Dimensional Fund Advisors LP increased its holdings in shares of Ciena by 30.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,405,223 shares of the communications equipment provider’s stock valued at $114,095,000 after acquiring an additional 1,026,844 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Ciena by 431.6% in the 4th quarter. Millennium Management LLC now owns 2,477,957 shares of the communications equipment provider’s stock valued at $51,864,000 after acquiring an additional 2,011,805 shares during the last quarter. Maverick Capital Ltd. purchased a new position in shares of Ciena in the 4th quarter valued at about $50,962,000. Northern Trust Corp increased its holdings in shares of Ciena by 1.1% in the 1st quarter. Northern Trust Corp now owns 2,205,450 shares of the communications equipment provider’s stock valued at $57,122,000 after acquiring an additional 24,421 shares during the last quarter. Finally, Boston Partners increased its holdings in shares of Ciena by 31.2% in the 1st quarter. Boston Partners now owns 1,945,747 shares of the communications equipment provider’s stock valued at $50,395,000 after acquiring an additional 462,933 shares during the last quarter.
In other Ciena news, VP David M. Rothenstein sold 2,000 shares of the stock in a transaction that occurred on Thursday, March 15th. The stock was sold at an average price of $26.95, for a total transaction of $53,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gary B. Smith sold 12,948 shares of the stock in a transaction that occurred on Wednesday, March 21st. The stock was sold at an average price of $26.58, for a total value of $344,157.84. The disclosure for this sale can be found here. Insiders have sold a total of 88,505 shares of company stock valued at $2,311,707 over the last ninety days. 1.38% of the stock is owned by insiders.
Ciena (NYSE:CIEN) last posted its quarterly earnings data on Thursday, May 31st. The communications equipment provider reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.07). Ciena had a return on equity of 14.10% and a net margin of 27.76%. The company had revenue of $730.00 million for the quarter, compared to analyst estimates of $726.38 million. During the same period in the previous year, the business posted $0.45 earnings per share. The firm’s revenue was up 3.3% compared to the same quarter last year. research analysts forecast that Ciena Co. will post 1.08 EPS for the current year.
A number of research analysts have recently commented on CIEN shares. Zacks Investment Research downgraded Ciena from a “hold” rating to a “sell” rating in a report on Monday, March 5th. BMO Capital Markets reiterated a “buy” rating and issued a $25.00 price objective on shares of Ciena in a report on Monday, March 5th. Rosenblatt Securities dropped their price objective on Ciena from $32.00 to $29.00 and set a “buy” rating on the stock in a report on Thursday, April 26th. Citigroup increased their price objective on Ciena from $30.00 to $32.00 and gave the company a “buy” rating in a report on Friday, March 9th. Finally, Stifel Nicolaus increased their price objective on Ciena from $28.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, March 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-three have issued a buy rating to the company. Ciena presently has a consensus rating of “Buy” and a consensus price target of $30.17.
Ciena Company Profile
Ciena Corporation provides hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of voice, video, and data traffic on communications networks worldwide. The company's Networking Platforms segment offers hardware networking solutions optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching.
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