Campbell & CO Investment Adviser LLC Buys 3,576 Shares of Ciena Corporation $CIEN

Campbell & CO Investment Adviser LLC grew its position in shares of Ciena Corporation (NYSE:CIEN) by 22.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,179 shares of the communications equipment provider’s stock after acquiring an additional 3,576 shares during the quarter. Campbell & CO Investment Adviser LLC’s holdings in Ciena were worth $1,560,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bayforest Capital Ltd boosted its holdings in 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 purchasing an additional 164 shares during the last quarter. National Bank of Canada FI lifted its position in shares of Ciena by 15.4% during the 1st quarter. National Bank of Canada FI now owns 1,147 shares of the communications equipment provider’s stock worth $69,000 after buying an additional 153 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of Ciena by 82.5% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,203 shares of the communications equipment provider’s stock worth $98,000 after buying an additional 544 shares during the last quarter. UMB Bank n.a. lifted its holdings in Ciena by 27.3% during the second quarter. UMB Bank n.a. now owns 1,556 shares of the communications equipment provider’s stock worth $127,000 after acquiring an additional 334 shares during the period. Finally, Quarry LP boosted its position in Ciena by 65.6% in the first quarter. Quarry LP now owns 1,593 shares of the communications equipment provider’s stock worth $96,000 after purchasing an additional 631 shares during the last quarter. Hedge funds and other institutional investors own 91.99% of the company’s stock.

Ciena Stock Down 0.9%

CIEN opened at $206.86 on Wednesday. Ciena Corporation has a 12 month low of $49.21 and a 12 month high of $214.17. The company has a market cap of $29.18 billion, a PE ratio of 213.26, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17. The company has a current ratio of 3.28, a quick ratio of 2.52 and a debt-to-equity ratio of 0.55. The company has a 50 day moving average of $157.90 and a 200 day moving average of $109.03.

Ciena (NYSE:CIEN) last issued its earnings results on Thursday, April 6th. The communications equipment provider reported $0.47 earnings per share (EPS) for the quarter. The business had revenue of $844.44 million for the quarter. Ciena had a net margin of 3.10% and a return on equity of 6.62%. On average, sell-side analysts expect that Ciena Corporation will post 1.6 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Stifel Nicolaus raised their target price on Ciena from $120.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. Wall Street Zen lowered shares of Ciena from a “strong-buy” rating to a “buy” rating in a research report on Saturday. BNP Paribas set a $185.00 price objective on shares of Ciena and gave the stock an “outperform” rating in a research report on Monday, October 13th. Evercore ISI boosted their target price on shares of Ciena from $120.00 to $200.00 and gave the company an “in-line” rating in a research note on Monday. Finally, B. Riley restated a “neutral” rating and set a $113.00 price target (up previously from $90.00) on shares of Ciena in a research note on Friday, September 5th. Three research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $153.20.

Insider Buying and Selling

In other news, Director Bruce L. Claflin sold 8,461 shares of the company’s stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $140.12, for a total transaction of $1,185,555.32. Following the sale, the director directly owned 54,624 shares in the company, valued at $7,653,914.88. This represents a 13.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Brodie Gage sold 350 shares of the stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $169.36, for a total transaction of $59,276.00. Following the completion of the sale, the senior vice president directly owned 40,653 shares in the company, valued at approximately $6,884,992.08. The trade was a 0.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 52,174 shares of company stock valued at $7,231,504. 0.93% of the stock is owned by company insiders.

About Ciena

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.