48,100 Shares in Ciena Co. (NYSE:CIEN) Purchased by Hel Ved Capital Management Ltd

Hel Ved Capital Management Ltd purchased a new stake in Ciena Co. (NYSE:CIEN) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 48,100 shares of the communications equipment provider’s stock, valued at approximately $4,079,000. Ciena accounts for approximately 1.2% of Hel Ved Capital Management Ltd’s portfolio, making the stock its 24th biggest position.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake 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 purchasing an additional 139,941 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Ciena by 0.3% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,236,920 shares of the communications equipment provider’s stock worth $444,143,000 after buying an additional 17,447 shares during the period. State Street Corp lifted 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 valued at $273,427,000 after buying an additional 53,078 shares in the last quarter. Geode Capital Management LLC increased its holdings in Ciena by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 2,419,947 shares of the communications equipment provider’s stock worth $205,301,000 after acquiring an additional 11,933 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Ciena by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 959,831 shares of the communications equipment provider’s stock worth $81,403,000 after acquiring an additional 4,315 shares during the period. Hedge funds and other institutional investors own 91.99% of the company’s stock.

Ciena Trading Down 4.7 %

Shares of Ciena stock opened at $53.53 on Friday. Ciena Co. has a fifty-two week low of $43.30 and a fifty-two week high of $101.44. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.72 and a current ratio of 3.55. The firm has a market capitalization of $7.61 billion, a price-to-earnings ratio of 93.91, a PEG ratio of 1.54 and a beta of 1.15. The stock has a 50 day moving average of $75.40 and a 200 day moving average of $74.08.

Insider Transactions at Ciena

In other news, SVP Jason Phipps sold 18,888 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $59.88, for a total transaction of $1,131,013.44. Following the sale, the senior vice president now owns 89,258 shares of the company’s stock, valued at approximately $5,344,769.04. This represents a 17.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bruce L. Claflin sold 16,912 shares of Ciena stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $84.96, for a total transaction of $1,436,843.52. Following the completion of the transaction, the director now owns 59,347 shares of the company’s stock, valued at $5,042,121.12. This trade represents a 22.18 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,200 shares of company stock worth $4,921,513. 0.93% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on CIEN shares. Citigroup upped their price target on shares of Ciena from $84.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Bank of America raised Ciena from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $70.00 to $95.00 in a research note on Friday, December 13th. Needham & Company LLC reduced their price objective on Ciena from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. B. Riley reaffirmed a “buy” rating and set a $89.00 target price (down previously from $97.00) on shares of Ciena in a research note on Wednesday, March 12th. Finally, JPMorgan Chase & Co. raised shares of Ciena from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $84.00 to $88.00 in a research note on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $81.38.

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.