Ciena Co. (NYSE:CIEN) Shares Acquired by Marketfield Asset Management LLC

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Marketfield Asset Management LLC grew its holdings in Ciena Co. (NYSE:CIEN) by 702.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 112,250 shares of the communications equipment provider’s stock after buying an additional 98,260 shares during the quarter. Ciena accounts for about 2.6% of Marketfield Asset Management LLC’s investment portfolio, making the stock its 13th biggest holding. Marketfield Asset Management LLC’s holdings in Ciena were worth $4,404,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Peregrine Capital Management LLC raised its holdings in Ciena by 3.7% during the third quarter. Peregrine Capital Management LLC now owns 789,093 shares of the communications equipment provider’s stock worth $30,956,000 after purchasing an additional 28,179 shares during the last quarter. Oliver Luxxe Assets LLC acquired a new position in Ciena during the third quarter worth $274,000. Canton Hathaway LLC raised its holdings in Ciena by 19.9% during the third quarter. Canton Hathaway LLC now owns 32,578 shares of the communications equipment provider’s stock worth $1,278,000 after purchasing an additional 5,403 shares during the last quarter. Dalton Greiner Hartman Maher & Co. raised its holdings in Ciena by 0.8% during the third quarter. Dalton Greiner Hartman Maher & Co. now owns 367,076 shares of the communications equipment provider’s stock worth $14,400,000 after purchasing an additional 2,955 shares during the last quarter. Finally, Grassi Investment Management raised its holdings in Ciena by 109.5% during the third quarter. Grassi Investment Management now owns 31,900 shares of the communications equipment provider’s stock worth $1,251,000 after purchasing an additional 16,675 shares during the last quarter. 88.49% of the stock is owned by institutional investors and hedge funds.

Several equities analysts recently issued reports on the company. TheStreet raised Ciena from a “c+” rating to a “b” rating in a report on Tuesday, June 25th. Piper Jaffray Companies set a $46.00 price target on Ciena and gave the stock a “hold” rating in a report on Friday, September 6th. Nomura reissued a “buy” rating and issued a $43.00 price target (down from $47.00) on shares of Ciena in a report on Wednesday, October 2nd. ValuEngine cut Ciena from a “buy” rating to a “hold” rating in a report on Friday, September 6th. Finally, Stifel Nicolaus set a $54.00 price target on Ciena and gave the stock a “buy” rating in a report on Friday, September 6th. Nine equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $48.35.

Shares of NYSE:CIEN traded down $0.19 during midday trading on Wednesday, reaching $37.44. The company’s stock had a trading volume of 463,044 shares, compared to its average volume of 3,184,645. The firm has a market cap of $5.82 billion, a price-to-earnings ratio of 33.43, a price-to-earnings-growth ratio of 1.16 and a beta of 1.06. The company has a quick ratio of 2.45, a current ratio of 2.90 and a debt-to-equity ratio of 0.32. Ciena Co. has a 1 year low of $29.30 and a 1 year high of $46.78. The business has a 50 day moving average price of $39.22 and a 200 day moving average price of $39.97.

Ciena (NYSE:CIEN) last announced its quarterly earnings data on Thursday, September 5th. The communications equipment provider reported $0.71 EPS for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.21. The business had revenue of $960.60 million during the quarter, compared to the consensus estimate of $930.64 million. Ciena had a return on equity of 13.64% and a net margin of 6.77%. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.48 earnings per share. Sell-side analysts anticipate that Ciena Co. will post 1.88 earnings per share for the current fiscal year.

In other news, SVP Scott Mcfeely sold 1,000 shares of Ciena stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $41.11, for a total value of $41,110.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas Michael Nevens sold 2,000 shares of Ciena stock in a transaction on Friday, October 11th. The shares were sold at an average price of $37.75, for a total value of $75,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 64,604 shares of company stock valued at $2,774,020. Company insiders own 1.20% of the company’s stock.

Ciena Company Profile

Ciena Corporation provides network hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of video, data, and voice 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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Institutional Ownership by Quarter for Ciena (NYSE:CIEN)

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