Savant Capital LLC Sells 385 Shares of Ciena Co. (NYSE:CIEN)

Savant Capital LLC decreased its position in shares of Ciena Co. (NYSE:CIEN) by 1.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,852 shares of the communications equipment provider’s stock after selling 385 shares during the period. Savant Capital LLC’s holdings in Ciena were worth $2,956,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of CIEN. Point72 Asset Management L.P. acquired a new stake in Ciena during the 3rd quarter valued at $57,861,000. Stephens Investment Management Group LLC acquired a new stake in shares of Ciena in the fourth quarter valued at $56,997,000. Vaughan Nelson Investment Management L.P. bought a new position in shares of Ciena in the third quarter valued at about $40,416,000. Westfield Capital Management Co. LP acquired a new position in Ciena during the 3rd quarter worth about $35,403,000. Finally, LMR Partners LLP bought a new stake in Ciena during the 3rd quarter worth about $17,236,000. Institutional investors own 91.99% of the company’s stock.

Ciena Price Performance

Shares of CIEN opened at $87.44 on Wednesday. The company has a current ratio of 3.55, a quick ratio of 2.72 and a debt-to-equity ratio of 0.54. The stock has a market cap of $12.43 billion, a P/E ratio of 153.40, a price-to-earnings-growth ratio of 1.66 and a beta of 0.88. The stock’s 50-day moving average price is $84.78 and its two-hundred day moving average price is $69.26. Ciena Co. has a 1 year low of $43.30 and a 1 year high of $101.44.

Ciena (NYSE:CIEN) last released its quarterly earnings data 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). Ciena had a return on equity of 4.72% and a net margin of 2.09%. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the previous year, the business earned $0.56 EPS. The firm’s revenue was down .5% compared to the same quarter last year. On average, equities analysts predict that Ciena Co. will post 1.6 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Morgan Stanley downgraded shares of Ciena from an “overweight” rating to an “equal weight” rating and set a $63.00 target price for the company. in a research note on Monday, October 28th. Evercore ISI downgraded Ciena from an “outperform” rating to an “in-line” rating and set a $65.00 price objective on the stock. in a report on Tuesday, October 15th. JPMorgan Chase & Co. upgraded Ciena from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $84.00 to $88.00 in a research report on Tuesday, January 28th. Bank of America upgraded Ciena from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $70.00 to $95.00 in a research report on Friday, December 13th. Finally, Northland Securities raised their price target on Ciena from $46.00 to $60.00 and gave the company a “market perform” rating in a report on Friday, December 13th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $78.77.

Insider Activity

In other news, SVP Joseph Cumello sold 1,289 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $68.99, for a total value of $88,928.11. Following the completion of the transaction, the senior vice president now owns 39,486 shares in the company, valued at $2,724,139.14. This represents a 3.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Brodie Gage sold 350 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $85.91, for a total transaction of $30,068.50. Following the sale, the senior vice president now owns 49,547 shares in the company, valued at approximately $4,256,582.77. The trade was a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 57,581 shares of company stock valued at $4,875,548 in the last quarter. Company insiders own 0.83% 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.