CloudAlpha Capital Management Limited Hong Kong Acquires 101,537 Shares of Ciena Co. (NYSE:CIEN)

CloudAlpha Capital Management Limited Hong Kong raised its holdings in Ciena Co. (NYSE:CIEN) by 166.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 162,390 shares of the communications equipment provider’s stock after acquiring an additional 101,537 shares during the quarter. Ciena makes up 1.0% of CloudAlpha Capital Management Limited Hong Kong’s holdings, making the stock its 13th largest holding. CloudAlpha Capital Management Limited Hong Kong owned about 0.11% of Ciena worth $13,772,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of CIEN. FMR LLC grew its position in shares of Ciena by 0.5% during the 3rd quarter. FMR LLC now owns 21,664,066 shares of the communications equipment provider’s stock worth $1,334,290,000 after buying an additional 108,407 shares in the last quarter. State Street Corp grew its position in shares of Ciena by 1.2% during the 3rd quarter. State Street Corp now owns 4,439,478 shares of the communications equipment provider’s stock worth $273,427,000 after buying an additional 53,078 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Ciena by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,408,014 shares of the communications equipment provider’s stock worth $148,348,000 after buying an additional 33,074 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Ciena by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 959,831 shares of the communications equipment provider’s stock worth $81,403,000 after buying an additional 4,315 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of Ciena during the 3rd quarter worth $57,861,000. Institutional investors own 91.99% of the company’s stock.

Insider Buying and Selling

In other Ciena news, SVP Brodie Gage sold 350 shares of Ciena stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $90.16, for a total value of $31,556.00. Following the sale, the senior vice president now owns 49,197 shares in the company, valued at $4,435,601.52. The trade was a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gary B. Smith sold 13,600 shares of Ciena stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $83.66, for a total value of $1,137,776.00. Following the completion of the sale, the chief executive officer now owns 425,749 shares in the company, valued at $35,618,161.34. This represents a 3.10 % 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 worth $5,337,764. 0.93% of the stock is owned by corporate insiders.

Ciena Stock Performance

NYSE CIEN opened at $68.10 on Friday. The company has a market cap of $9.71 billion, a PE ratio of 119.47, a price-to-earnings-growth ratio of 1.54 and a beta of 0.91. The stock’s 50 day simple moving average is $85.06 and its 200-day simple moving average is $72.81. Ciena Co. has a 1-year low of $43.30 and a 1-year high of $101.44. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.55 and a quick ratio of 2.72.

Ciena (NYSE:CIEN) last released its earnings results on Thursday, December 12th. The communications equipment provider reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.12). The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Ciena had a net margin of 2.09% and a return on equity of 4.72%. The business’s revenue was down .5% compared to the same quarter last year. During the same quarter last year, the business earned $0.56 EPS. As a group, equities research analysts anticipate that Ciena Co. will post 1.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CIEN has been the topic of a number of recent research reports. Barclays increased their price target on Ciena from $67.00 to $97.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Citigroup increased their price target on Ciena from $84.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. upgraded Ciena from a “neutral” rating to an “overweight” rating and increased their price target for the company from $84.00 to $88.00 in a research note on Tuesday, January 28th. Stifel Nicolaus reiterated a “buy” rating and issued a $82.00 price target (up from $75.00) on shares of Ciena in a research note on Tuesday, December 10th. Finally, Bank of America upgraded 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 note on Friday, December 13th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $78.77.

Ciena Company Profile

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.