Alliancebernstein L.P. Increases Stock Holdings in Ciena Co. (NYSE:CIEN)

Alliancebernstein L.P. increased its holdings in Ciena Co. (NYSE:CIEN) by 11.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,658,567 shares of the communications equipment provider’s stock after acquiring an additional 381,729 shares during the quarter. Alliancebernstein L.P.’s holdings in Ciena were worth $187,867,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also made changes to their positions in CIEN. FMR LLC lifted its stake in Ciena by 605.3% in the first quarter. FMR LLC now owns 1,249,825 shares of the communications equipment provider’s stock worth $46,669,000 after acquiring an additional 1,072,632 shares during the period. American Century Companies Inc. lifted its stake in Ciena by 22.6% in the second quarter. American Century Companies Inc. now owns 11,679 shares of the communications equipment provider’s stock worth $664,000 after acquiring an additional 2,155 shares during the period. HighTower Advisors LLC raised its holdings in Ciena by 7.0% in the second quarter. HighTower Advisors LLC now owns 14,296 shares of the communications equipment provider’s stock worth $814,000 after purchasing an additional 936 shares in the last quarter. Rockefeller Capital Management L.P. raised its holdings in Ciena by 56.0% in the second quarter. Rockefeller Capital Management L.P. now owns 1,771 shares of the communications equipment provider’s stock worth $99,000 after purchasing an additional 636 shares in the last quarter. Finally, Citigroup Inc. raised its holdings in Ciena by 30.0% in the second quarter. Citigroup Inc. now owns 167,684 shares of the communications equipment provider’s stock worth $9,539,000 after purchasing an additional 38,692 shares in the last quarter. 86.74% of the stock is owned by institutional investors.

A number of equities analysts have issued reports on CIEN shares. Barclays increased their price objective on Ciena from $66.00 to $84.00 and gave the stock an “overweight” rating in a report on Friday, December 10th. B. Riley increased their price objective on Ciena from $51.00 to $63.00 and gave the stock a “neutral” rating in a report on Friday, December 10th. They noted that the move was a valuation call. Cowen increased their price objective on Ciena from $75.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, December 10th. Morgan Stanley increased their price objective on Ciena from $59.00 to $74.00 and gave the stock an “equal weight” rating in a report on Friday, December 10th. Finally, Zacks Investment Research downgraded Ciena from a “hold” rating to a “sell” rating and set a $59.00 price objective for the company. in a report on Tuesday, November 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $76.86.

Shares of NYSE:CIEN opened at $71.41 on Friday. Ciena Co. has a 1-year low of $47.52 and a 1-year high of $78.28. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.51 and a quick ratio of 3.10. The business has a fifty day moving average price of $68.52 and a 200-day moving average price of $59.80. The company has a market capitalization of $11.06 billion, a PE ratio of 22.39, a PEG ratio of 1.70 and a beta of 0.85.

Ciena (NYSE:CIEN) last released its quarterly earnings data on Thursday, December 9th. The communications equipment provider reported $0.85 EPS for the quarter, meeting the consensus estimate of $0.85. Ciena had a return on equity of 13.89% and a net margin of 13.81%. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the firm posted $0.53 earnings per share. Ciena’s revenue was up 25.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Ciena Co. will post 2.66 earnings per share for the current fiscal year.

In other Ciena news, SVP Jason Phipps sold 21,598 shares of the firm’s stock in a transaction dated Tuesday, December 21st. The stock was sold at an average price of $74.37, for a total value of $1,606,243.26. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO James E. Moylan, Jr. sold 2,000 shares of the firm’s stock in a transaction dated Thursday, October 28th. The stock was sold at an average price of $53.66, for a total value of $107,320.00. The disclosure for this sale can be found here. Insiders have sold 34,098 shares of company stock worth $2,411,253 over the last ninety days. 0.96% of the stock is currently owned by insiders.

Ciena Profile

Ciena Corp. engages in the provision of network and communication infrastructure. It operates through the following segments: Networking Platforms, Platform Software and Services, Blue Planet Automation Software and Services, and Global Services. The Networking Platforms segment consists of Converged Packet Optical and Packet Networking portfolios.

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Institutional Ownership by Quarter for Ciena (NYSE:CIEN)

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