Valeo Financial Advisors LLC Buys 783 Shares of Ciena Co. (CIEN)

Valeo Financial Advisors LLC boosted its stake in Ciena Co. (NYSE:CIEN) by 79.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,768 shares of the communications equipment provider’s stock after acquiring an additional 783 shares during the period. Valeo Financial Advisors LLC’s holdings in Ciena were worth $66,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Canton Hathaway LLC increased its position in Ciena by 318.3% in the 1st quarter. Canton Hathaway LLC now owns 24,845 shares of the communications equipment provider’s stock valued at $927,000 after acquiring an additional 18,905 shares during the period. Gateway Investment Advisers LLC increased its position in Ciena by 2.2% in the 1st quarter. Gateway Investment Advisers LLC now owns 25,608 shares of the communications equipment provider’s stock valued at $956,000 after acquiring an additional 557 shares during the period. Campbell Newman Asset Management Inc. increased its position in Ciena by 2.5% in the 1st quarter. Campbell Newman Asset Management Inc. now owns 20,889 shares of the communications equipment provider’s stock valued at $780,000 after acquiring an additional 510 shares during the period. Dorsey Wright & Associates increased its position in Ciena by 17.9% in the 1st quarter. Dorsey Wright & Associates now owns 54,577 shares of the communications equipment provider’s stock valued at $2,038,000 after acquiring an additional 8,277 shares during the period. Finally, New England Research & Management Inc. increased its position in Ciena by 10.1% in the 1st quarter. New England Research & Management Inc. now owns 11,400 shares of the communications equipment provider’s stock valued at $426,000 after acquiring an additional 1,050 shares during the period. Hedge funds and other institutional investors own 93.33% of the company’s stock.

Shares of NYSE:CIEN opened at $38.70 on Wednesday. The company has a market cap of $5.99 billion, a PE ratio of 34.55, a PEG ratio of 1.49 and a beta of 1.03. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.52 and a current ratio of 2.98. Ciena Co. has a 12 month low of $22.99 and a 12 month high of $45.70.

Ciena (NYSE:CIEN) last announced its quarterly earnings results on Tuesday, March 5th. The communications equipment provider reported $0.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.06. The business had revenue of $778.53 million for the quarter, compared to analyst estimates of $761.62 million. Ciena had a return on equity of 10.73% and a net margin of 5.03%. The company’s quarterly revenue was up 20.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.15 EPS. Analysts expect that Ciena Co. will post 1.54 EPS for the current fiscal year.

Several brokerages recently issued reports on CIEN. Northland Securities upgraded Ciena from a “market perform” rating to an “outperform” rating and set a $42.00 price target on the stock in a research report on Monday. ValuEngine lowered Ciena from a “strong-buy” rating to a “buy” rating in a report on Monday, April 1st. JPMorgan Chase & Co. set a $45.00 price objective on Ciena and gave the company a “buy” rating in a report on Friday, March 22nd. Zacks Investment Research raised Ciena from a “hold” rating to a “strong-buy” rating and set a $46.00 price objective on the stock in a report on Friday, March 8th. Finally, UBS Group set a $42.00 price objective on Ciena and gave the company a “hold” rating in a report on Thursday, March 7th. Nine equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Ciena presently has a consensus rating of “Buy” and a consensus price target of $42.30.

In other Ciena news, VP David M. Rothenstein sold 2,000 shares of the business’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $39.97, for a total value of $79,940.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gary B. Smith sold 4,800 shares of the business’s stock in a transaction on Wednesday, January 23rd. The shares were sold at an average price of $38.27, for a total value of $183,696.00. The disclosure for this sale can be found here. Insiders have sold a total of 196,322 shares of company stock valued at $7,782,170 over the last 90 days. Insiders own 1.20% of the company’s stock.

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Ciena Profile

Ciena Corp. engages in the provision of network and communication infrastructure. It operates through the following segments: Converged Packet Optical; Packet Networking; Optical Transport; and Software and Services. The Converged Packet Optical segment develops and sells optical processors, switching systems, and operating system software.

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Institutional Ownership by Quarter for Ciena (NYSE:CIEN)

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