Pacifica Partners Inc. reduced its holdings in shares of Ciena Corporation (NYSE:CIEN – Free Report) by 54.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,469 shares of the communications equipment provider’s stock after selling 6,481 shares during the quarter. Pacifica Partners Inc.’s holdings in Ciena were worth $2,683,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in CIEN. Elyxium Wealth LLC bought a new stake in shares of Ciena in the fourth quarter worth $2,747,810,000. Corient Private Wealth LLC boosted its holdings in 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 last quarter. Price T Rowe Associates Inc. MD grew its position 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 in the last quarter. Atreides Management LP bought a new position in Ciena in the second quarter valued at $102,705,000. Finally, Arrowstreet Capital Limited Partnership grew its position in Ciena by 2,174.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,143,855 shares of the communications equipment provider’s stock valued at $166,625,000 after purchasing an additional 1,093,557 shares in the last quarter. 91.99% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Ciena
In other news, CEO Gary B. Smith sold 2,952 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $447.78, for a total value of $1,321,846.56. Following the transaction, the chief executive officer owned 246,030 shares of the company’s stock, valued at approximately $110,167,313.40. This represents a 1.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Joseph Cumello sold 1,586 shares of the stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $466.33, for a total value of $739,599.38. Following the transaction, the senior vice president owned 42,872 shares in the company, valued at approximately $19,992,499.76. This trade represents a 3.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 22,470 shares of company stock valued at $9,967,521. Insiders own 0.58% of the company’s stock.
Ciena Stock Performance
Ciena (NYSE:CIEN – Get Free Report) last announced its quarterly earnings results on Thursday, June 4th. The communications equipment provider reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.18. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.50 billion. Ciena had a net margin of 7.87% and a return on equity of 18.15%. Ciena’s quarterly revenue was up 39.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.42 EPS. On average, sell-side analysts predict that Ciena Corporation will post 5.42 earnings per share for the current year.
Analysts Set New Price Targets
Several equities research analysts have commented on CIEN shares. Needham & Company LLC reissued a “buy” rating and set a $600.00 price target on shares of Ciena in a research report on Wednesday, August 26th. Rosenblatt Securities restated a “buy” rating and issued a $720.00 price objective on shares of Ciena in a report on Monday, August 24th. Raymond James Financial lifted their target price on Ciena from $320.00 to $530.00 and gave the company an “outperform” rating in a research report on Thursday, June 4th. Argus set a $650.00 price target on Ciena in a research report on Friday, June 5th. Finally, Citigroup raised their price target on Ciena from $345.00 to $658.00 and gave the company a “buy” rating in a research note on Monday, May 18th. Fourteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $521.22.
Read Our Latest Stock Analysis on CIEN
Key Ciena News
Here are the key news stories impacting Ciena this week:
- Positive Sentiment: Investors are anticipating another strong quarterly report, with attention on revenue, earnings, optical-networking demand and guidance. Ciena’s prior quarter delivered revenue growth of 39.5% year over year and exceeded analysts’ earnings and revenue estimates, raising hopes that the September 3 report could provide another catalyst. Ciena’s Next Earnings Report on September 3 Could Send the Stock Soaring
- Positive Sentiment: Morgan Stanley expects backlog growth in the fiscal-third-quarter report. A larger backlog would signal continued demand visibility for Ciena’s optical networking equipment, particularly as telecom and cloud companies expand AI infrastructure. Morgan Stanley previews Ciena Q3F26 report
- Positive Sentiment: One valuation analysis argues that Ciena may still trade below fair value despite its substantial rally, suggesting potential upside if earnings growth and AI-networking demand justify the company’s premium valuation. Ciena Stock Trades Below Fair Value Even After Its Big Run
- Positive Sentiment: A technical analysis identifies a contrarian signal after the shares paused below their June 25-year high, which could attract buyers if the earnings report confirms continued momentum. Contrarian Signal Flashing for Ciena Stock
About Ciena
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.
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