Robeco Institutional Asset Management B.V. Takes Position in Ciena Co. (CIEN)

Robeco Institutional Asset Management B.V. purchased a new stake in Ciena Co. (NYSE:CIEN) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 369,610 shares of the communications equipment provider’s stock, valued at approximately $13,802,000.

A number of other institutional investors also recently added to or reduced their stakes in CIEN. Mackenzie Financial Corp grew its position in shares of Ciena by 187.6% during the 4th quarter. Mackenzie Financial Corp now owns 830,481 shares of the communications equipment provider’s stock worth $28,162,000 after purchasing an additional 541,711 shares in the last quarter. Canada Pension Plan Investment Board grew its position in shares of Ciena by 96.7% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,599,900 shares of the communications equipment provider’s stock worth $54,248,000 after purchasing an additional 786,600 shares in the last quarter. First Quadrant L P CA grew its position in shares of Ciena by 124.3% during the 4th quarter. First Quadrant L P CA now owns 52,507 shares of the communications equipment provider’s stock worth $1,781,000 after purchasing an additional 29,102 shares in the last quarter. HL Financial Services LLC grew its position in shares of Ciena by 10.0% during the 4th quarter. HL Financial Services LLC now owns 143,951 shares of the communications equipment provider’s stock worth $4,881,000 after purchasing an additional 13,053 shares in the last quarter. Finally, LS Investment Advisors LLC grew its position in shares of Ciena by 36.2% during the 4th quarter. LS Investment Advisors LLC now owns 10,887 shares of the communications equipment provider’s stock worth $369,000 after purchasing an additional 2,896 shares in the last quarter. 93.75% of the stock is currently owned by hedge funds and other institutional investors.

In other Ciena news, VP David M. Rothenstein sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $39.97, for a total value of $79,940.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Scott Mcfeely sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $39.97, for a total transaction of $39,970.00. The disclosure for this sale can be found here. Insiders sold 189,522 shares of company stock worth $7,541,266 in the last 90 days. Company insiders own 1.20% of the company’s stock.

Shares of Ciena stock opened at $35.07 on Monday. Ciena Co. has a fifty-two week low of $22.99 and a fifty-two week high of $45.70. The company has a current ratio of 2.98, a quick ratio of 2.52 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $5.49 billion, a price-to-earnings ratio of 31.31, a P/E/G ratio of 1.37 and a beta of 1.02.

Ciena (NYSE:CIEN) last issued its earnings results on Tuesday, March 5th. The communications equipment provider reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.06. Ciena had a net margin of 5.03% and a return on equity of 10.73%. The firm had revenue of $778.53 million for the quarter, compared to analyst estimates of $761.62 million. During the same quarter last year, the business posted $0.15 earnings per share. The company’s quarterly revenue was up 20.5% on a year-over-year basis. Equities analysts anticipate that Ciena Co. will post 1.53 EPS for the current fiscal year.

CIEN has been the topic of several analyst reports. JPMorgan Chase & Co. lowered shares of Ciena from a “neutral” rating to an “underweight” rating in a research report on Monday, April 22nd. Dougherty & Co increased their price target on shares of Ciena from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Northland Securities reiterated a “hold” rating and set a $34.00 price target on shares of Ciena in a research report on Wednesday, March 6th. Bank of America lowered shares of Ciena from a “buy” rating to a “neutral” rating and set a $42.00 price target on the stock. in a research report on Wednesday, January 30th. They noted that the move was a valuation call. Finally, Cowen increased their price target on shares of Ciena from $39.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Ciena has an average rating of “Buy” and an average price target of $42.13.

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About Ciena

Ciena Corporation provides network hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of video, data, and voice traffic on communications networks worldwide. The company's Networking Platforms segment offers hardware networking solutions optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching.

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Institutional Ownership by Quarter for Ciena (NYSE:CIEN)

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