Lmcg Investments LLC cut its holdings in Ciena Corporation (NYSE:CIEN – Free Report) by 42.8% during the first quarter, Holdings Channel.com reports. The fund owned 59,248 shares of the communications equipment provider’s stock after selling 44,352 shares during the period. Ciena comprises about 1.4% of Lmcg Investments LLC’s holdings, making the stock its 17th largest holding. Lmcg Investments LLC’s holdings in Ciena were worth $23,002,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Elyxium Wealth LLC acquired a new position in shares of Ciena in the 4th quarter valued at $2,747,810,000. Corient Private Wealth LLC grew its stake in shares of Ciena by 30,114.5% during the fourth quarter. Corient Private Wealth LLC now owns 2,870,677 shares of the communications equipment provider’s stock worth $671,365,000 after purchasing an additional 2,861,176 shares during the period. Lone Pine Capital LLC bought a new stake in Ciena in the third quarter valued at about $292,310,000. Price T Rowe Associates Inc. MD increased its holdings in Ciena by 53.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,051,625 shares of the communications equipment provider’s stock valued at $947,554,000 after purchasing an additional 1,404,132 shares during the last quarter. Finally, Atreides Management LP acquired a new position in Ciena in the second quarter valued at about $102,705,000. Institutional investors own 91.99% of the company’s stock.
Ciena Trading Down 3.6%
CIEN stock opened at $418.27 on Wednesday. The company has a fifty day moving average price of $510.15 and a two-hundred day moving average price of $393.93. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.73 and a quick ratio of 2.11. The stock has a market cap of $59.21 billion, a price-to-earnings ratio of 139.42 and a beta of 1.27. Ciena Corporation has a one year low of $76.89 and a one year high of $637.51.
Insider Transactions at Ciena
In other Ciena news, SVP Brodie Gage sold 1,200 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $466.10, for a total transaction of $559,320.00. Following the transaction, the senior vice president owned 42,741 shares in the company, valued at $19,921,580.10. This trade represents a 2.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jason Phipps sold 2,629 shares of Ciena stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $466.20, for a total value of $1,225,639.80. Following the sale, the senior vice president directly owned 62,382 shares of the company’s stock, valued at $29,082,488.40. This represents a 4.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 22,827 shares of company stock valued at $11,541,133. Corporate insiders own 0.58% of the company’s stock.
Key Stories Impacting Ciena
Here are the key news stories impacting Ciena this week:
- Positive Sentiment: Ciena’s Blue Planet AI proof of concept with Telefónica Deutschland is being highlighted as a potential catalyst for software growth and enterprise 5G network-slicing opportunities, reinforcing its role in AI-driven network automation. How AI-Driven 5G Network Slicing Positions Ciena for Long-Term Growth
- Positive Sentiment: Several recent articles continue to frame CIEN as an AI infrastructure beneficiary and a growth stock, suggesting investors still see upside tied to demand for networking gear and automation software. Ciena: Successfully Riding The AI-Powered Wave
- Positive Sentiment: Ciena was also included in lists of top-ranked July growth stocks, with AI demand cited as a supportive backdrop for the shares. 5 Top-Ranked Growth Stocks to Buy for July After a Mixed June
- Neutral Sentiment: Ciena named new supply chain and product technology chiefs, a leadership update that may help execution over time but is not an immediate earnings catalyst. Ciena (CIEN) Names New Supply Chain and Product Technology Chiefs
- Neutral Sentiment: CEO Gary B. Smith and CFO Marc Graff disclosed small share sales under pre-arranged 10b5-1 plans; the transactions are worth watching, but they do not necessarily point to a fundamental change in outlook. Ciena Insider Trades
- Negative Sentiment: Some recent commentary warns that after a strong year-to-date run, CIEN may be facing valuation concerns, which can weigh on the stock even when the business outlook remains constructive. Ciena (CIEN) Growth Index Entry Puts Its Valuation Back In Focus
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on the company. Barclays raised their target price on Ciena from $372.00 to $607.00 and gave the stock an “overweight” rating in a report on Friday, June 5th. Citigroup increased their price target on shares of Ciena from $345.00 to $658.00 and gave the company a “buy” rating in a research report on Monday, May 18th. Needham & Company LLC reissued a “buy” rating and set a $600.00 price objective on shares of Ciena in a research note on Tuesday, June 23rd. Weiss Ratings cut shares of Ciena from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 23rd. Finally, Argus set a $650.00 target price on shares of Ciena in a research note on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $530.56.
Check Out Our Latest Research Report on Ciena
Ciena Company Profile
Ciena Corporation (NYSE: CIEN) is a global supplier of telecommunications networking equipment, software and services. The company develops high-capacity optical transport systems and packet-optical platforms that enable service providers, cloud operators and large enterprises to build, manage and scale their networks. Ciena’s product portfolio includes coherent optical solutions, packet networking platforms and a suite of network automation software designed to optimize bandwidth, reduce latency and simplify network operations.
In addition to hardware offerings, Ciena provides professional services and support, including network design, implementation and ongoing maintenance.
Read More
- Five stocks we like better than Ciena
- Apple and Broadcom Forge a Decade-Long Silicon Fortress
- SK Hynix’s Nasdaq Listing Could Reset the AI Memory Trade
- The AI Chip Sell-Off Looks Scary, But the Real Story May Be Liquidity
- Palantir’s CEO Just Called Out OpenAI and Anthropic
Want to see what other hedge funds are holding CIEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ciena Corporation (NYSE:CIEN – Free Report).
Receive News & Ratings for Ciena Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ciena and related companies with MarketBeat.com's FREE daily email newsletter.
