3,716 Shares in Ciena Co. (NYSE:CIEN) Bought by Bay Colony Advisory Group Inc d b a Bay Colony Advisors

Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in shares of Ciena Co. (NYSE:CIEN) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 3,716 shares of the communications equipment provider’s stock, valued at approximately $315,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Greenleaf Trust raised its stake in Ciena by 2.8% during the 4th quarter. Greenleaf Trust now owns 4,978 shares of the communications equipment provider’s stock worth $422,000 after acquiring an additional 136 shares in the last quarter. US Bancorp DE grew its position in Ciena by 1.5% during the 4th quarter. US Bancorp DE now owns 10,459 shares of the communications equipment provider’s stock worth $887,000 after purchasing an additional 152 shares during the last quarter. Coldstream Capital Management Inc. grew its position in Ciena by 3.8% during the 3rd quarter. Coldstream Capital Management Inc. now owns 4,742 shares of the communications equipment provider’s stock worth $292,000 after purchasing an additional 175 shares during the last quarter. CIBC Asset Management Inc grew its position in Ciena by 5.3% during the 4th quarter. CIBC Asset Management Inc now owns 4,469 shares of the communications equipment provider’s stock worth $379,000 after purchasing an additional 226 shares during the last quarter. Finally, QRG Capital Management Inc. grew its position in Ciena by 4.9% during the 4th quarter. QRG Capital Management Inc. now owns 4,914 shares of the communications equipment provider’s stock worth $417,000 after purchasing an additional 228 shares during the last quarter. 91.99% of the stock is currently owned by institutional investors and hedge funds.

Ciena Stock Up 0.5 %

CIEN stock opened at $68.75 on Friday. The company has a market cap of $9.80 billion, a P/E ratio of 120.62, a P/E/G ratio of 1.54 and a beta of 0.91. Ciena Co. has a 52 week low of $43.30 and a 52 week high of $101.44. The company’s 50-day moving average price is $84.29 and its 200 day moving average price is $73.01. The company has a current ratio of 3.55, a quick ratio of 2.72 and a debt-to-equity ratio of 0.54.

Ciena (NYSE:CIEN) last released its quarterly earnings data on Thursday, December 12th. The communications equipment provider reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.12). The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Ciena had a return on equity of 4.72% and a net margin of 2.09%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.56 EPS. On average, research analysts expect that Ciena Co. will post 1.6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CIEN has been the topic of several research reports. Bank of America raised shares of Ciena from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $70.00 to $95.00 in a research report on Friday, December 13th. Northland Securities raised their price objective on shares of Ciena from $46.00 to $60.00 and gave the stock a “market perform” rating in a research report on Friday, December 13th. Stifel Nicolaus reissued a “buy” rating and set a $82.00 price objective (up from $75.00) on shares of Ciena in a research report on Tuesday, December 10th. Rosenblatt Securities lowered their price objective on shares of Ciena from $94.00 to $79.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, JPMorgan Chase & Co. raised shares of Ciena from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $84.00 to $88.00 in a report on Tuesday, January 28th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $77.62.

Insider Buying and Selling

In other Ciena news, SVP Brodie Gage sold 350 shares of Ciena stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $90.16, for a total transaction of $31,556.00. Following the completion of the transaction, the senior vice president now owns 49,197 shares in the company, valued at approximately $4,435,601.52. The trade was a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bruce L. Claflin sold 16,912 shares of Ciena stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $84.96, for a total transaction of $1,436,843.52. Following the transaction, the director now 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. Over the last 90 days, insiders have sold 63,442 shares of company stock valued at $5,337,764. Corporate insiders own 0.93% of the company’s stock.

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.