Proficio Capital Partners LLC purchased a new position in shares of Ciena Corporation (NYSE:CIEN – Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 2,342 shares of the communications equipment provider’s stock, valued at approximately $1,149,000.
Other large investors also recently modified their holdings of the company. Elyxium Wealth LLC acquired a new position in shares of Ciena during the 4th quarter valued at $2,747,810,000. State Street Corp grew its holdings in Ciena by 17.2% in the fourth quarter. State Street Corp now owns 5,102,409 shares of the communications equipment provider’s stock worth $1,193,300,000 after purchasing an additional 750,128 shares during the period. Price T Rowe Associates Inc. MD grew 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 worth $947,554,000 after purchasing an additional 1,404,132 shares during the period. Bank of America Corp DE increased its stake in Ciena by 10.4% in the second quarter. Bank of America Corp DE now owns 3,495,795 shares of the communications equipment provider’s stock valued at $284,313,000 after purchasing an additional 329,821 shares in the last quarter. Finally, Corient Private Wealth LLC increased its stake in Ciena by 30,114.5% in the fourth quarter. Corient Private Wealth LLC now owns 2,870,677 shares of the communications equipment provider’s stock valued at $671,365,000 after purchasing an additional 2,861,176 shares in the last quarter. Institutional investors and hedge funds own 91.99% of the company’s stock.
Ciena Stock Down 5.6%
Ciena stock opened at $361.42 on Wednesday. Ciena Corporation has a 1-year low of $90.00 and a 1-year high of $637.51. The firm has a market capitalization of $51.16 billion, a price-to-earnings ratio of 120.47 and a beta of 1.31. The firm’s fifty day moving average price is $412.31 and its two-hundred day moving average price is $437.61. The company has a current ratio of 2.73, a quick ratio of 2.11 and a debt-to-equity ratio of 0.53.
Trending Headlines about Ciena
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
Insider Buying and Selling at Ciena
In other Ciena news, SVP Joseph Cumello sold 1,586 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $466.33, for a total transaction of $739,599.38. Following the completion of the sale, the senior vice president directly owned 42,872 shares of the company’s stock, valued at approximately $19,992,499.76. The trade was a 3.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gary B. Smith sold 2,952 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $457.02, for a total value of $1,349,123.04. Following the completion of the sale, the chief executive officer directly owned 266,605 shares of the company’s stock, valued at approximately $121,843,817.10. This trade represents a 1.10% decrease in their ownership of the stock. 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 three months, insiders have sold 22,470 shares of company stock worth $9,967,521. 0.58% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on CIEN shares. Argus set a $650.00 price objective on shares of Ciena in a research report on Friday, June 5th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $720.00 target price on shares of Ciena in a research report on Monday, August 24th. Raymond James Financial boosted 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. Bank of America reaffirmed a “buy” rating on shares of Ciena in a research note on Thursday, August 20th. Finally, UBS Group reiterated a “buy” rating on shares of Ciena in a report on Tuesday, July 28th. Fourteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Ciena currently has a consensus rating of “Moderate Buy” and a consensus target price of $521.22.
Get Our Latest Analysis on CIEN
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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