Vanguard Group Inc. Buys 203,112 Shares of Ciena Corporation (CIEN)

Vanguard Group Inc. grew its stake in shares of Ciena Corporation (NYSE:CIEN) by 1.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,466,282 shares of the communications equipment provider’s stock after purchasing an additional 203,112 shares during the quarter. Vanguard Group Inc. owned 8.79% of Ciena Corporation worth $311,906,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Northern Trust Corp lifted its stake in shares of Ciena Corporation by 3.5% during the second quarter. Northern Trust Corp now owns 2,316,614 shares of the communications equipment provider’s stock worth $57,962,000 after purchasing an additional 78,069 shares in the last quarter. GSA Capital Partners LLP lifted its stake in shares of Ciena Corporation by 365.7% during the second quarter. GSA Capital Partners LLP now owns 39,932 shares of the communications equipment provider’s stock worth $999,000 after purchasing an additional 31,358 shares in the last quarter. Quantitative Investment Management LLC acquired a new position in shares of Ciena Corporation during the second quarter worth about $7,090,000. Mutual of America Capital Management LLC lifted its stake in shares of Ciena Corporation by 2.4% during the second quarter. Mutual of America Capital Management LLC now owns 115,250 shares of the communications equipment provider’s stock worth $2,884,000 after purchasing an additional 2,718 shares in the last quarter. Finally, Laurion Capital Management LP acquired a new position in shares of Ciena Corporation during the second quarter worth about $2,309,000.

In other news, CEO Gary B. Smith sold 12,634 shares of the firm’s stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $21.25, for a total transaction of $268,472.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Scott Mcfeely sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $25.70, for a total transaction of $25,700.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 88,310 shares of company stock valued at $2,047,414. Company insiders own 1.45% of the company’s stock.

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Ciena Corporation (NYSE:CIEN) opened at 22.04 on Tuesday. The stock’s 50 day moving average price is $22.31 and its 200 day moving average price is $23.86. Ciena Corporation has a 12 month low of $18.94 and a 12 month high of $27.98. The firm has a market capitalization of $3.14 billion, a P/E ratio of 24.11 and a beta of 1.70.

Ciena Corporation (NYSE:CIEN) last posted its quarterly earnings data on Thursday, August 31st. The communications equipment provider reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.02. The company had revenue of $728.70 million during the quarter, compared to analyst estimates of $726.81 million. Ciena Corporation had a net margin of 4.99% and a return on equity of 25.53%. The company’s revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the business posted $0.42 earnings per share. On average, analysts forecast that Ciena Corporation will post $1.74 earnings per share for the current year.

A number of research analysts have commented on the company. Stifel Nicolaus restated a “buy” rating and set a $30.00 price objective on shares of Ciena Corporation in a research note on Tuesday, September 26th. ValuEngine raised Ciena Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Nomura dropped their target price on Ciena Corporation from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, September 1st. MKM Partners reaffirmed a “buy” rating on shares of Ciena Corporation in a research report on Thursday, August 31st. Finally, B. Riley reaffirmed a “buy” rating and set a $34.25 target price on shares of Ciena Corporation in a research report on Tuesday, August 29th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. Ciena Corporation has a consensus rating of “Buy” and a consensus price targe

Several other institutional investors and hedge funds also recently modified their holdings of the business. Northern Trust Corp lifted its stake in shares of Ciena Corporation by 3.5% during the second quarter. Northern Trust Corp now owns 2,316,614 shares of the communications equipment provider’s stock worth $57,962,000 after purchasing an additional 78,069 shares in the last quarter. GSA Capital Partners LLP lifted its stake in shares of Ciena Corporation by 365.7% during the second quarter. GSA Capital Partners LLP now owns 39,932 shares of the communications equipment provider’s stock worth $999,000 after purchasing an additional 31,358 shares in the last quarter. Quantitative Investment Management LLC acquired a new position in shares of Ciena Corporation during the second quarter worth about $7,090,000. Mutual of America Capital Management LLC lifted its stake in shares of Ciena Corporation by 2.4% during the second quarter. Mutual of America Capital Management LLC now owns 115,250 shares of the communications equipment provider’s stock worth $2,884,000 after purchasing an additional 2,718 shares in the last quarter. Finally, Laurion Capital Management LP acquired a new position in shares of Ciena Corporation during the second quarter worth about $2,309,000.

In other news, CEO Gary B. Smith sold 12,634 shares of the firm’s stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $21.25, for a total transaction of $268,472.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Scott Mcfeely sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $25.70, for a total transaction of $25,700.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 88,310 shares of company stock valued at $2,047,414. Company insiders own 1.45% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This piece of content was first published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece of content on another publication, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark law. The correct version of this piece of content can be accessed at https://ledgergazette.com/2017/10/10/vanguard-group-inc-buys-203112-shares-of-ciena-corporation-cien.html.

Ciena Corporation (NYSE:CIEN) opened at 22.04 on Tuesday. The stock’s 50 day moving average price is $22.31 and its 200 day moving average price is $23.86. Ciena Corporation has a 12 month low of $18.94 and a 12 month high of $27.98. The firm has a market capitalization of $3.14 billion, a P/E ratio of 24.11 and a beta of 1.70.

Ciena Corporation (NYSE:CIEN) last posted its quarterly earnings data on Thursday, August 31st. The communications equipment provider reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.02. The company had revenue of $728.70 million during the quarter, compared to analyst estimates of $726.81 million. Ciena Corporation had a net margin of 4.99% and a return on equity of 25.53%. The company’s revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the business posted $0.42 earnings per share. On average, analysts forecast that Ciena Corporation will post $1.74 earnings per share for the current year.

A number of research analysts have commented on the company. Stifel Nicolaus restated a “buy” rating and set a $30.00 price objective on shares of Ciena Corporation in a research note on Tuesday, September 26th. ValuEngine raised Ciena Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Nomura dropped their target price on Ciena Corporation from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, September 1st. MKM Partners reaffirmed a “buy” rating on shares of Ciena Corporation in a research report on Thursday, August 31st. Finally, B. Riley reaffirmed a “buy” rating and set a $34.25 target price on shares of Ciena Corporation in a research report on Tuesday, August 29th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. Ciena Corporation has a consensus rating of “Buy” and a consensus price target of $29.53.

About Ciena Corporation

Ciena Corporation is a network strategy and technology company, which provides solutions that enable a range of network operators to adopt communication architectures and deliver an array of services, relied upon by enterprise and consumer end users. It provides equipment, software and services that support the transport, switching, aggregation, service delivery and management of voice, video and data traffic on communications networks.

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Institutional Ownership by Quarter for Ciena Corporation (NYSE:CIEN)

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