Calamos Advisors LLC Raises Stock Position in Ciena Co. (NYSE:CIEN)

Calamos Advisors LLC grew its holdings in Ciena Co. (NYSE:CIEN) by 7.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,400 shares of the communications equipment provider’s stock after buying an additional 839 shares during the period. Calamos Advisors LLC’s holdings in Ciena were worth $513,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in CIEN. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of Ciena in the 3rd quarter worth about $101,000. Smithfield Trust Co lifted its holdings in shares of Ciena by 74.5% in the 3rd quarter. Smithfield Trust Co now owns 2,999 shares of the communications equipment provider’s stock worth $142,000 after acquiring an additional 1,280 shares during the last quarter. Operose Advisors LLC lifted its holdings in shares of Ciena by 19.0% in the 3rd quarter. Operose Advisors LLC now owns 3,214 shares of the communications equipment provider’s stock worth $152,000 after acquiring an additional 514 shares during the last quarter. PFG Private Wealth Management LLC bought a new stake in shares of Ciena in the 3rd quarter worth about $161,000. Finally, Claret Asset Management Corp bought a new stake in shares of Ciena in the 3rd quarter worth about $203,000. Institutional investors own 91.99% of the company’s stock.

Analyst Upgrades and Downgrades

CIEN has been the subject of several analyst reports. JPMorgan Chase & Co. raised their target price on shares of Ciena from $56.00 to $67.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Citigroup started coverage on shares of Ciena in a report on Friday, April 12th. They set a “sell” rating and a $44.00 price objective for the company. Evercore ISI lifted their price objective on shares of Ciena from $57.00 to $63.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Needham & Company LLC lifted their price objective on shares of Ciena from $60.00 to $65.00 and gave the company a “buy” rating in a report on Monday, March 4th. Finally, StockNews.com upgraded shares of Ciena from a “sell” rating to a “hold” rating in a report on Friday, March 8th. One analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Ciena presently has an average rating of “Moderate Buy” and an average price target of $58.79.

Insider Transactions at Ciena

In other news, CEO Gary B. Smith sold 8,332 shares of Ciena stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $56.86, for a total value of $473,757.52. Following the transaction, the chief executive officer now owns 415,674 shares of the company’s stock, valued at approximately $23,635,223.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Ciena news, CEO Gary B. Smith sold 8,332 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $56.86, for a total transaction of $473,757.52. Following the sale, the chief executive officer now owns 415,674 shares of the company’s stock, valued at approximately $23,635,223.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Joseph Cumello sold 3,156 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $45.74, for a total transaction of $144,355.44. Following the sale, the senior vice president now directly owns 51,171 shares in the company, valued at approximately $2,340,561.54. The disclosure for this sale can be found here. Insiders have sold a total of 107,189 shares of company stock valued at $5,754,880 in the last 90 days. Insiders own 0.83% of the company’s stock.

Ciena Trading Up 0.8 %

NYSE:CIEN opened at $43.93 on Tuesday. Ciena Co. has a one year low of $39.94 and a one year high of $63.24. The company has a debt-to-equity ratio of 0.53, a quick ratio of 3.12 and a current ratio of 4.29. The firm has a market cap of $6.35 billion, a P/E ratio of 28.53, a P/E/G ratio of 1.99 and a beta of 0.99. The firm has a 50-day simple moving average of $51.54 and a 200-day simple moving average of $48.20.

Ciena (NYSE:CIEN) last issued its quarterly earnings data on Thursday, March 7th. The communications equipment provider reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.18. Ciena had a net margin of 5.22% and a return on equity of 9.92%. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the firm earned $0.48 EPS. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. Equities analysts anticipate that Ciena Co. will post 1.46 EPS for the current fiscal year.

Ciena Profile

Ciena Corporation provides hardware and software services for delivery of video, data, and voice traffic metro, aggregation, and access communications network worldwide. The company's Networking Platforms segment offers convergence of coherent optical transport, open optical networking, optical transport network switching, IP routing, and switching services.