Intech Investment Management LLC Has $5.56 Million Position in Ciena Co. (NYSE:CIEN)

Intech Investment Management LLC raised its holdings in shares of Ciena Co. (NYSE:CIEN) by 42.9% in the 4th quarter, HoldingsChannel reports. The firm owned 65,547 shares of the communications equipment provider’s stock after buying an additional 19,665 shares during the period. Intech Investment Management LLC’s holdings in Ciena were worth $5,559,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its stake in shares of Ciena by 925.0% during the 4th quarter. Versant Capital Management Inc now owns 328 shares of the communications equipment provider’s stock worth $28,000 after buying an additional 296 shares during the last quarter. Picton Mahoney Asset Management bought a new position in Ciena in the 4th quarter valued at about $41,000. Parkside Financial Bank & Trust lifted its position in Ciena by 409.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 520 shares of the communications equipment provider’s stock worth $44,000 after acquiring an additional 418 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Ciena by 152.8% during the third quarter. First Horizon Advisors Inc. now owns 847 shares of the communications equipment provider’s stock worth $52,000 after acquiring an additional 512 shares during the period. Finally, Kieckhefer Group LLC acquired a new position in shares of Ciena in the fourth quarter valued at approximately $59,000. 91.99% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CIEN shares. Bank of America raised Ciena from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $70.00 to $95.00 in a report on Friday, December 13th. Citigroup boosted their target price on shares of Ciena from $84.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Stifel Nicolaus reaffirmed a “buy” rating and set a $82.00 price target (up from $75.00) on shares of Ciena in a research report on Tuesday, December 10th. B. Riley reissued a “buy” rating and issued a $89.00 price objective (down previously from $97.00) on shares of Ciena in a report on Wednesday, March 12th. Finally, Needham & Company LLC lowered their target price on shares of Ciena from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $81.38.

Ciena Trading Down 2.1 %

Shares of CIEN stock opened at $64.28 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.72 and a current ratio of 3.55. Ciena Co. has a fifty-two week low of $43.30 and a fifty-two week high of $101.44. The company has a market cap of $9.14 billion, a PE ratio of 112.77, a P/E/G ratio of 1.54 and a beta of 0.91. The stock’s fifty day moving average price is $81.57 and its two-hundred day moving average price is $73.53.

Insider Activity at Ciena

In related news, CEO Gary B. Smith sold 13,600 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $83.66, for a total transaction of $1,137,776.00. Following the sale, the chief executive officer now owns 425,749 shares of the company’s stock, valued at $35,618,161.34. This trade represents a 3.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Bruce L. Claflin sold 16,912 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $84.96, for a total value of $1,436,843.52. Following the completion of the transaction, the director now directly owns 59,347 shares of the company’s stock, valued at approximately $5,042,121.12. The trade was a 22.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 59,942 shares of company stock valued at $5,025,949 over the last ninety days. 0.93% of the stock is owned by corporate insiders.

About Ciena

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.