Hel Ved Capital Management Ltd Makes New Investment in Ciena Co. (NYSE:CIEN)

Hel Ved Capital Management Ltd bought a new stake in Ciena Co. (NYSE:CIEN - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 48,100 shares of the communications equipment provider's stock, valued at approximately $4,079,000. Ciena accounts for about 1.2% of Hel Ved Capital Management Ltd's portfolio, making the stock its 24th biggest holding.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CIEN. Annis Gardner Whiting Capital Advisors LLC boosted its stake in Ciena by 108.6% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 290 shares of the communications equipment provider's stock worth $25,000 after purchasing an additional 151 shares during the period. Versant Capital Management Inc boosted its stake in Ciena by 925.0% during the 4th quarter. Versant Capital Management Inc now owns 328 shares of the communications equipment provider's stock valued at $28,000 after purchasing an additional 296 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Ciena by 328.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 364 shares of the communications equipment provider's stock valued at $30,000 after buying an additional 279 shares during the last quarter. Atlas Capital Advisors Inc. raised its stake in shares of Ciena by 77.2% in the 4th quarter. Atlas Capital Advisors Inc. now owns 420 shares of the communications equipment provider's stock valued at $36,000 after buying an additional 183 shares in the last quarter. Finally, Picton Mahoney Asset Management acquired a new stake in shares of Ciena in the 4th quarter valued at $41,000. 91.99% of the stock is owned by institutional investors.

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Insider Activity at Ciena

In other news, SVP Jason Phipps sold 18,888 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the senior vice president now owns 89,258 shares in the company, valued at approximately $5,344,769.04. The trade was a 17.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Brodie Gage sold 350 shares of the company's stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $85.91, for a total transaction of $30,068.50. Following the completion of the sale, the senior vice president now owns 49,547 shares of the company's stock, valued at approximately $4,256,582.77. This trade represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,288 shares of company stock valued at $3,484,670. 0.93% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CIEN shares. Bank of America upgraded Ciena from a "neutral" rating to a "buy" rating and upped their price objective for the company from $70.00 to $95.00 in a report on Friday, December 13th. B. Riley reissued a "buy" rating and issued a $89.00 price objective (down from $97.00) on shares of Ciena in a research report on Wednesday, March 12th. Northland Securities upgraded Ciena from a "market perform" rating to an "outperform" rating and upped their target price for the company from $60.00 to $75.00 in a research report on Wednesday, March 12th. Rosenblatt Securities cut their price objective on Ciena from $94.00 to $79.00 and set a "neutral" rating on the stock in a report on Friday, March 7th. Finally, Citigroup lifted their target price on Ciena from $84.00 to $98.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $81.38.

Ciena Stock Performance

Shares of CIEN stock traded down $4.22 during mid-day trading on Thursday, reaching $57.77. The stock had a trading volume of 765,483 shares, compared to its average volume of 2,657,313. 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 business's fifty day moving average is $72.95 and its 200-day moving average is $74.05. Ciena Co. has a 1-year low of $43.30 and a 1-year high of $101.44. The firm has a market cap of $8.21 billion, a price-to-earnings ratio of 101.34, a PEG ratio of 1.54 and a beta of 1.15.

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.