Vanguard Personalized Indexing Management LLC Purchases 2,920 Shares of Ciena Corporation $CIEN

Vanguard Personalized Indexing Management LLC increased its position in shares of Ciena Corporation (NYSE:CIEN) by 17.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,669 shares of the communications equipment provider’s stock after purchasing an additional 2,920 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Ciena were worth $1,600,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. National Bank of Canada FI boosted its position in shares of Ciena by 15.4% during the first quarter. National Bank of Canada FI now owns 1,147 shares of the communications equipment provider’s stock worth $69,000 after acquiring an additional 153 shares during the last quarter. Bayforest Capital Ltd boosted its position in shares of Ciena by 34.7% during the first quarter. Bayforest Capital Ltd now owns 636 shares of the communications equipment provider’s stock worth $38,000 after acquiring an additional 164 shares during the last quarter. Bessemer Group Inc. boosted its position in shares of Ciena by 50.0% during the first quarter. Bessemer Group Inc. now owns 534 shares of the communications equipment provider’s stock worth $32,000 after acquiring an additional 178 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Ciena by 0.5% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,910 shares of the communications equipment provider’s stock worth $2,351,000 after acquiring an additional 178 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its position in shares of Ciena by 1.1% during the first quarter. State of Alaska Department of Revenue now owns 16,649 shares of the communications equipment provider’s stock worth $1,006,000 after acquiring an additional 180 shares during the last quarter. 91.99% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Brodie Gage sold 350 shares of the stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $169.36, for a total value of $59,276.00. Following the sale, the senior vice president owned 40,653 shares of the company’s stock, valued at approximately $6,884,992.08. This represents a 0.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Bruce L. Claflin sold 8,461 shares of the stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $140.12, for a total transaction of $1,185,555.32. Following the completion of the sale, the director directly owned 54,624 shares in the company, valued at approximately $7,653,914.88. This represents a 13.41% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,374 shares of company stock worth $5,936,444. Insiders own 0.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CIEN shares. Zacks Research upgraded shares of Ciena from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 9th. Weiss Ratings restated a “hold (c)” rating on shares of Ciena in a research report on Wednesday, October 8th. Barclays upped their target price on shares of Ciena from $102.00 to $138.00 and gave the stock an “overweight” rating in a research report on Friday, September 5th. BNP Paribas Exane upgraded shares of Ciena from a “neutral” rating to an “outperform” rating and set a $185.00 target price for the company in a research report on Monday, October 13th. Finally, B. Riley restated a “neutral” rating and set a $113.00 target price (up previously from $90.00) on shares of Ciena in a research report on Friday, September 5th. Three research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $137.53.

Ciena Price Performance

CIEN stock opened at $171.37 on Friday. Ciena Corporation has a 52 week low of $49.21 and a 52 week high of $176.88. The company has a quick ratio of 2.52, a current ratio of 3.28 and a debt-to-equity ratio of 0.55. The company has a fifty day simple moving average of $125.66 and a two-hundred day simple moving average of $93.04. The firm has a market capitalization of $24.17 billion, a P/E ratio of 176.67, a price-to-earnings-growth ratio of 2.36 and a beta of 1.15.

Ciena (NYSE:CIEN) last released its quarterly earnings data on Thursday, April 6th. The communications equipment provider reported $0.47 EPS for the quarter. Ciena had a net margin of 3.10% and a return on equity of 6.62%. The business had revenue of $844.44 million during the quarter. Analysts anticipate that Ciena Corporation will post 1.6 earnings per share 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.