Dynamic Technology Lab Private Ltd Invests $254,000 in Ciena Co. (NYSE:CIEN)

Dynamic Technology Lab Private Ltd acquired a new stake in Ciena Co. (NYSE:CIEN) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,000 shares of the communications equipment provider’s stock, valued at approximately $254,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of Ciena by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 15,316,640 shares of the communications equipment provider’s stock valued at $1,299,004,000 after buying an additional 139,941 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in shares of Ciena by 0.3% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,236,920 shares of the communications equipment provider’s stock worth $444,143,000 after acquiring an additional 17,447 shares during the period. Geode Capital Management LLC boosted its holdings in Ciena by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 2,419,947 shares of the communications equipment provider’s stock valued at $205,301,000 after acquiring an additional 11,933 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in 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 valued at $81,403,000 after purchasing an additional 4,315 shares during the period. Finally, Vaughan Nelson Investment Management L.P. raised its holdings in Ciena by 21.8% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 799,546 shares of the communications equipment provider’s stock worth $67,810,000 after purchasing an additional 143,350 shares during the last quarter. 91.99% of the stock is currently owned by institutional investors and hedge funds.

Ciena Trading Down 5.8 %

NYSE CIEN opened at $58.38 on Friday. 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 firm has a market capitalization of $8.30 billion, a P/E ratio of 102.42, a PEG ratio of 1.54 and a beta of 1.15. The business has a fifty day simple moving average of $72.42 and a 200 day simple moving average of $74.04. Ciena Co. has a 12 month low of $43.30 and a 12 month high of $101.44.

Wall Street Analyst Weigh In

CIEN has been the topic of a number of analyst reports. B. Riley reiterated a “buy” rating and set a $89.00 price objective (down from $97.00) on shares of Ciena in a research report on Wednesday, March 12th. JPMorgan Chase & Co. upgraded Ciena from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $84.00 to $88.00 in a report on Tuesday, January 28th. Northland Capmk raised Ciena from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 12th. Rosenblatt Securities decreased their target price on Ciena from $94.00 to $79.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Finally, Northland Securities raised Ciena from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $60.00 to $75.00 in a research note on Wednesday, March 12th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Ciena currently has an average rating of “Moderate Buy” and an average target price of $81.38.

Insider Activity at Ciena

In other news, CEO Gary B. Smith sold 6,800 shares of Ciena stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $85.29, for a total transaction of $579,972.00. Following the sale, the chief executive officer now directly owns 418,949 shares in the company, valued at $35,732,160.21. The trade was a 1.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Jason Phipps sold 18,888 shares of Ciena stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $59.88, for a total transaction of $1,131,013.44. Following the completion of the sale, the senior vice president now directly owns 89,258 shares in the company, valued at approximately $5,344,769.04. This represents a 17.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,288 shares of company stock valued at $3,484,670 over the last ninety days. 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.