GAM Holding AG Has $556,000 Holdings in Ciena Co. (NYSE:CIEN)

GAM Holding AG cut its position in Ciena Co. (NYSE:CIEN) by 33.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,901 shares of the communications equipment provider’s stock after selling 7,586 shares during the period. GAM Holding AG’s holdings in Ciena were worth $556,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Ontario Teachers Pension Plan Board acquired a new stake in shares of Ciena during the first quarter worth $209,000. Rockefeller Capital Management L.P. acquired a new stake in shares of Ciena during the first quarter worth $32,000. Global Financial Private Capital LLC acquired a new stake in shares of Ciena during the first quarter worth $1,091,000. Federated Investors Inc. PA raised its holdings in shares of Ciena by 14.6% during the first quarter. Federated Investors Inc. PA now owns 275,478 shares of the communications equipment provider’s stock worth $10,287,000 after acquiring an additional 34,997 shares during the period. Finally, Empowered Funds LLC acquired a new stake in shares of Ciena during the first quarter worth $1,260,000. Institutional investors own 92.80% of the company’s stock.

In other news, CEO Gary B. Smith sold 9,600 shares of Ciena stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $39.49, for a total value of $379,104.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Judith M. Obrien sold 4,230 shares of Ciena stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $44.18, for a total transaction of $186,881.40. The disclosure for this sale can be found here. In the last three months, insiders sold 125,604 shares of company stock valued at $4,735,405. Insiders own 1.20% of the company’s stock.

CIEN has been the topic of a number of research analyst reports. Argus restated an “average” rating and set a $53.00 price objective on shares of Ciena in a report on Wednesday, March 6th. MKM Partners raised their price objective on shares of Ciena to $49.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Dougherty & Co lifted their price target on shares of Ciena from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. B. Riley lifted their price target on shares of Ciena from $42.20 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Finally, Nomura lifted their price target on shares of Ciena from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $45.83.

Shares of CIEN opened at $43.01 on Thursday. Ciena Co. has a one year low of $24.56 and a one year high of $46.23. The stock has a market capitalization of $6.87 billion, a PE ratio of 38.40, a PEG ratio of 1.55 and a beta of 1.06. The company has a quick ratio of 2.36, a current ratio of 2.83 and a debt-to-equity ratio of 0.33.

Ciena (NYSE:CIEN) last announced its quarterly earnings data on Thursday, June 6th. The communications equipment provider reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.07. Ciena had a net margin of 5.98% and a return on equity of 12.37%. The company had revenue of $865.00 million during the quarter, compared to the consensus estimate of $818.23 million. During the same quarter last year, the firm posted $0.23 EPS. The company’s quarterly revenue was up 18.5% on a year-over-year basis. On average, research analysts forecast that Ciena Co. will post 1.63 earnings per share for the current fiscal year.

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About Ciena

Ciena Corporation provides network hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of video, data, and voice traffic on communications networks worldwide. The company's Networking Platforms segment offers hardware networking solutions optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching.

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Institutional Ownership by Quarter for Ciena (NYSE:CIEN)

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