Intech Investment Management LLC Has $5.56 Million Position in Ciena Co. (NYSE:CIEN)

Intech Investment Management LLC raised its holdings in Ciena Co. (NYSE:CIEN) by 42.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 65,547 shares of the communications equipment provider’s stock after acquiring an additional 19,665 shares during the quarter. Intech Investment Management LLC’s holdings in Ciena were worth $5,559,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Versant Capital Management Inc boosted its position in shares of Ciena by 925.0% in the 4th quarter. Versant Capital Management Inc now owns 328 shares of the communications equipment provider’s stock worth $28,000 after purchasing an additional 296 shares during the last quarter. Picton Mahoney Asset Management bought a new position in Ciena during the fourth quarter worth about $41,000. Parkside Financial Bank & Trust boosted its holdings in Ciena by 409.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 520 shares of the communications equipment provider’s stock worth $44,000 after buying an additional 418 shares during the last quarter. First Horizon Advisors Inc. grew its position in shares of Ciena by 152.8% during the 3rd quarter. First Horizon Advisors Inc. now owns 847 shares of the communications equipment provider’s stock worth $52,000 after buying an additional 512 shares during the period. Finally, Kieckhefer Group LLC bought a new stake in shares of Ciena in the 4th quarter valued at about $59,000. Institutional investors and hedge funds own 91.99% of the company’s stock.

Ciena Price Performance

NYSE CIEN opened at $64.28 on Wednesday. The firm’s 50 day moving average is $81.57 and its 200-day moving average is $73.53. The company has a quick ratio of 2.72, a current ratio of 3.55 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $9.14 billion, a PE ratio of 112.77, a price-to-earnings-growth ratio of 1.54 and a beta of 0.91. Ciena Co. has a 12-month low of $43.30 and a 12-month high of $101.44.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Ciena from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $84.00 to $88.00 in a report on Tuesday, January 28th. Citigroup boosted their price target on shares of Ciena from $84.00 to $98.00 and gave the company a “buy” rating in a report on Friday, December 13th. Morgan Stanley dropped their price objective on Ciena from $80.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 12th. Northland Securities raised Ciena from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $60.00 to $75.00 in a research note on Wednesday, March 12th. Finally, Northland Capmk raised Ciena from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 12th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $81.38.

Insider Buying and Selling at Ciena

In other Ciena news, SVP Brodie Gage sold 350 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 49,547 shares of the company’s stock, valued at $4,256,582.77. The trade was a 0.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Dino Diperna sold 2,682 shares of the stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $87.64, for a total value of $235,050.48. Following the completion of the sale, the senior vice president now directly owns 50,607 shares of the company’s stock, valued at approximately $4,435,197.48. The trade was a 5.03 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,942 shares of company stock worth $5,025,949. Insiders own 0.93% of the company’s stock.

Ciena 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.