Ciena Co. (NYSE:CIEN) Position Boosted by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lifted its stake in shares of Ciena Co. (NYSE:CIEN) by 0.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 815,486 shares of the communications equipment provider’s stock after purchasing an additional 4,444 shares during the period. Wealth Enhancement Advisory Services LLC owned about 0.56% of Ciena worth $40,326,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Kapitalo Investimentos Ltda bought a new position in Ciena in the fourth quarter worth about $30,000. Johnson Financial Group Inc. bought a new position in Ciena in the fourth quarter worth about $61,000. Neo Ivy Capital Management bought a new position in Ciena in the fourth quarter worth about $154,000. Coldstream Capital Management Inc. bought a new position in Ciena in the fourth quarter worth about $204,000. Finally, Insigneo Advisory Services LLC bought a new position in Ciena in the third quarter worth about $245,000. Institutional investors own 91.99% of the company’s stock.

Insiders Place Their Bets

In other Ciena news, CEO Gary B. Smith sold 4,166 shares of Ciena stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $47.99, for a total value of $199,926.34. Following the transaction, the chief executive officer now owns 372,611 shares in the company, valued at $17,881,601.89. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, SVP Brodie Gage sold 533 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $49.61, for a total value of $26,442.13. Following the completion of the transaction, the senior vice president now owns 41,372 shares of the company’s stock, valued at approximately $2,052,464.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gary B. Smith sold 4,166 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $47.99, for a total transaction of $199,926.34. Following the completion of the transaction, the chief executive officer now directly owns 372,611 shares of the company’s stock, valued at approximately $17,881,601.89. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,641 shares of company stock worth $1,031,032. 0.83% of the stock is owned by insiders.

Ciena Price Performance

Shares of NYSE CIEN traded up $0.47 during mid-day trading on Thursday, reaching $48.13. 1,052,791 shares of the company traded hands, compared to its average volume of 1,885,274. Ciena Co. has a fifty-two week low of $39.94 and a fifty-two week high of $63.24. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.88 and a quick ratio of 2.76. The firm has a market cap of $6.92 billion, a PE ratio of 45.84, a price-to-earnings-growth ratio of 4.65 and a beta of 0.99. The stock has a fifty day simple moving average of $47.58 and a 200-day simple moving average of $49.43.

Ciena (NYSE:CIEN) last posted its quarterly earnings results on Thursday, June 6th. The communications equipment provider reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.12. The firm had revenue of $910.80 million for the quarter, compared to analyst estimates of $895.80 million. Ciena had a net margin of 3.71% and a return on equity of 7.16%. The firm’s quarterly revenue was down 19.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.59 earnings per share. Equities research analysts anticipate that Ciena Co. will post 1.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Morgan Stanley raised shares of Ciena from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $53.00 to $55.00 in a report on Wednesday, June 12th. JPMorgan Chase & Co. dropped their price target on shares of Ciena from $67.00 to $60.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. B. Riley dropped their price target on shares of Ciena from $68.00 to $66.00 and set a “buy” rating on the stock in a research note on Friday, June 7th. Barclays dropped their price target on shares of Ciena from $63.00 to $55.00 and set an “overweight” rating on the stock in a research note on Friday, June 7th. Finally, Raymond James lowered shares of Ciena from a “strong-buy” rating to an “outperform” rating and dropped their price target for the company from $59.00 to $54.00 in a research note on Thursday, June 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Ciena presently has a consensus rating of “Moderate Buy” and an average target price of $57.25.

Ciena Profile

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.