Ciena (CIEN) Getting Somewhat Critical News Coverage, AlphaOne Reports

The firm owned 48,012 shares of the communications equipment provider's stock after buying an additional 1,227 shares during the period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Marcus Capital LLC boosted its stake in shares of Ciena by 4.0% in the third quarter. Dimensional Fund Advisors LP now owns 2,932,100 shares of the communications equipment provider's stock valued at $71,573,000 after buying an additional 165,373 shares during the period.

Chico's FAS, Inc. (NYSE:CHS) shares were last seen up 0.42% at $9.46, which is 33.12% higher than the previous trading session.

First Manhattan Co. boosted its position in Ciena Co. Finally, Northwestern Mutual Investment Management Company LLC boosted its position in Ciena by 1.4% in the first quarter. Finally, State of New Jersey Common Pension Fund D boosted its stake in Ciena by 56.3% in the first quarter. Aperio Group LLC now owns 19,702 shares of the communications equipment provider's stock valued at $430,000 after buying an additional 639 shares in the last quarter. For the quarter ending Jul-17, 20 analysts have a mean sales target of 723.32 million whilst for the year ending Oct-17, 21 analysts have a mean target of 2,804.59 million. These holdings make up 99.75% of the company's outstanding shares. The company has a market cap of $3.84 billion, a PE ratio of 44.65 and a beta of 1.66.

In related news, SVP James E. Moylan, Jr. sold 2,000 shares of the firm's stock in a transaction dated Thursday, March 9th. Ciena Co. Ciena also was the recipient of some unusual options trading on Wednesday. "If WBA raises its share repurchase authorization to $5B (which we believe is reasonable given its FCF outlook and the excess cash it has generated since the RAD deal was announced) we believe the company could increase EPS by $0.17 (3%) & $0.46 (7%) in FY18 & FY19, respectively", he commented. This is an increase of 706% compared to the typical daily volume of 884 put options. The communications equipment provider reported $0.26 earnings per share for the quarter, missing the Zacks' consensus estimate of $0.29 by $0.03.

Return on equity reveals how much profit a company earned in comparison to the total amount of shareholder equity found on the balance sheet. The company had revenue of $621.50 million for the quarter, compared to the consensus estimate of $632.29 million. Equities research analysts expect that Ciena will post $1.68 EPS for the current fiscal year. The firm has "Outperform" rating given on Thursday, December 10 by Northland Capital. It improved, as 34 investors sold Ciena Corporation shares while 82 reduced holdings.

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The stock of Ciena Corporation (NYSE:CIEN) hit a new 52-week high and has $29.48 target or 9.00% above today's $27.05 share price. Deutsche Bank maintained it with "Hold" rating and $20 target in Monday, September 5 report. The stock of Hewlett Packard Enterprise Co (NYSE:HPE) has "Buy" rating given on Thursday, December 3 by Argus Research. Deutsche Bank AG cut shares of Ciena from a "buy" rating to a "hold" rating and lowered their price target for the stock from $24.35 to $23.00 in a report on Wednesday, May 24th.

Ciena Corp (NYSE:CIEN) just had their share rating of a '"Buy"' issued by research analysts at Cowen & Co., who now has a $35.0000 PT on the $3.79 billion market cap company or a 29.73 % upside potential. The stock has a consensus rating of "Buy" and an average price target of $28.13. Company insiders own 1.45% of the company's stock. If the average volume is low then the liquidity is low which means it is hard to buy or sell the stock as there are fewer buyers or sellers of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Analyst mean recommendation rating on a stock by the analyst community is at 2.60. The shares were sold at an average price of $21.66, for a total transaction of $54,150.00. The firm declared -2.80% change to end the trade at $1.04, with the overall traded capacity of 1.37 Million shares.

  • Zachary Reyes