Mirae Asset Global Investments Co. Ltd. Invests $1.31 Million in Ciena Co. (NYSE:CIEN)

Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Ciena Co. (NYSE:CIEN - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 15,389 shares of the communications equipment provider's stock, valued at approximately $1,308,000.

A number of other institutional investors have also recently bought and sold shares of CIEN. FMR LLC boosted its position in shares of Ciena by 0.5% during the third quarter. FMR LLC now owns 21,664,066 shares of the communications equipment provider's stock worth $1,334,290,000 after purchasing an additional 108,407 shares in the last quarter. State Street Corp boosted its position in shares of Ciena by 1.2% during the third quarter. State Street Corp now owns 4,439,478 shares of the communications equipment provider's stock worth $273,427,000 after purchasing an additional 53,078 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Ciena by 1.4% during the third quarter. Geode Capital Management LLC now owns 2,408,014 shares of the communications equipment provider's stock worth $148,348,000 after purchasing an additional 33,074 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Ciena by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 955,516 shares of the communications equipment provider's stock worth $58,850,000 after purchasing an additional 6,605 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of Ciena during the third quarter worth $57,861,000. Institutional investors and hedge funds own 91.99% of the company's stock.

Insider Transactions at Ciena

In related news, SVP Brodie Gage sold 350 shares of the company's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $85.91, for a total value of $30,068.50. Following the transaction, the senior vice president now owns 49,547 shares in the company, valued at approximately $4,256,582.77. This represents a 0.70 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Dino Diperna sold 2,682 shares of the company's stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $87.64, for a total transaction of $235,050.48. Following the completion of the transaction, the senior vice president now owns 50,607 shares in the company, valued at approximately $4,435,197.48. This trade represents a 5.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,292 shares of company stock worth $4,786,620 in the last ninety days. Insiders own 0.83% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CIEN shares. Bank of America raised shares of 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 report on Friday, December 13th. JPMorgan Chase & Co. raised 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 research report on Tuesday, January 28th. Morgan Stanley cut shares of Ciena from an "overweight" rating to an "equal weight" rating and set a $63.00 price objective on the stock. in a research report on Monday, October 28th. Stifel Nicolaus reaffirmed a "buy" rating and issued a $82.00 price objective (up from $75.00) on shares of Ciena in a research report on Tuesday, December 10th. Finally, Northland Securities boosted their price objective on shares of Ciena from $46.00 to $60.00 and gave the company a "market perform" rating in a research report on Friday, December 13th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Ciena has a consensus rating of "Moderate Buy" and a consensus target price of $78.77.

Ciena Stock Performance

Shares of Ciena stock traded up $0.60 during trading on Friday, hitting $89.45. 1,518,093 shares of the stock were exchanged, compared to its average volume of 2,759,345. The stock has a market capitalization of $12.71 billion, a price-to-earnings ratio of 156.93, a price-to-earnings-growth ratio of 1.66 and a beta of 0.88. The company has a fifty day moving average price of $85.74 and a 200-day moving average price of $69.93. Ciena Co. has a 1-year low of $43.30 and a 1-year high of $101.44. The company has a current ratio of 3.55, a quick ratio of 2.72 and a debt-to-equity ratio of 0.54.

Ciena (NYSE:CIEN - Get Free Report) last released its quarterly earnings data on Thursday, December 12th. The communications equipment provider reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.12). The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.10 billion. Ciena had a return on equity of 4.72% and a net margin of 2.09%. The firm's revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.56 earnings per share. As a group, equities analysts predict that Ciena Co. will post 1.6 EPS for the current fiscal year.

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.