American Century Companies Inc. Has $10.45 Million Position in Ciena Corporation (CIEN)

American Century Companies Inc. decreased its position in Ciena Corporation (NYSE:CIEN) by 25.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 475,788 shares of the communications equipment provider’s stock after selling 159,685 shares during the quarter. American Century Companies Inc. owned about 0.33% of Ciena Corporation worth $10,453,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Ciena Corporation by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,690 shares of the communications equipment provider’s stock valued at $518,000 after purchasing an additional 58 shares during the last quarter. Capstone Asset Management Co. raised its stake in Ciena Corporation by 1.3% in the 2nd quarter. Capstone Asset Management Co. now owns 10,490 shares of the communications equipment provider’s stock valued at $262,000 after purchasing an additional 130 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in Ciena Corporation by 1.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 10,740 shares of the communications equipment provider’s stock valued at $269,000 after purchasing an additional 200 shares during the last quarter. World Asset Management Inc raised its stake in Ciena Corporation by 2.8% in the 2nd quarter. World Asset Management Inc now owns 8,935 shares of the communications equipment provider’s stock valued at $224,000 after purchasing an additional 243 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its stake in Ciena Corporation by 2.7% in the 2nd quarter. Teacher Retirement System of Texas now owns 11,289 shares of the communications equipment provider’s stock valued at $282,000 after purchasing an additional 300 shares during the last quarter.

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Shares of Ciena Corporation (CIEN) opened at $20.21 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.50 and a current ratio of 2.92. The stock has a market capitalization of $2,883.72, a P/E ratio of 14.64, a P/E/G ratio of 0.79 and a beta of 1.64. Ciena Corporation has a 52-week low of $19.40 and a 52-week high of $27.98.

Ciena Corporation (NYSE:CIEN) last posted its quarterly earnings results on Thursday, August 31st. The communications equipment provider reported $0.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.02. The business had revenue of $728.70 million for the quarter, compared to analyst estimates of $726.81 million. Ciena Corporation had a return on equity of 25.53% and a net margin of 4.99%. The business’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.42 EPS. research analysts predict that Ciena Corporation will post 1.51 earnings per share for the current year.

In related news, VP Andrew C. Petrik sold 1,251 shares of the company’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $21.60, for a total transaction of $27,021.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP James Frodsham sold 2,000 shares of the company’s stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $22.00, for a total value of $44,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 87,052 shares of company stock worth $1,880,078. Corporate insiders own 1.45% of the company’s stock.

CIEN has been the subject of several analyst reports. MKM Partners reissued a “buy” rating on shares of Ciena Corporation in a research note on Thursday, August 31st. William Blair restated an “outperform” rating on shares of Ciena Corporation in a report on Thursday, August 31st. Northland Securities restated a “buy” rating and issued a $30.00 price target on shares of Ciena Corporation in a report on Sunday, September 3rd. UBS AG set a $31.00 price target on Ciena Corporation and gave the company a “buy” rating in a report on Wednesday, August 30th. Finally, Deutsche Bank AG restated a “hold” rating and issued a $22.00 price target (down previously from $24.00) on shares of Ciena Corporation in a report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $29.53.

Ciena Corporation Company Profile

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.

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

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