Barrow Hanley Mewhinney & Strauss LLC Purchases 17,447 Shares of Ciena Co. (NYSE:CIEN)

Barrow Hanley Mewhinney & Strauss LLC lifted its stake in shares of Ciena Co. (NYSE:CIEN - Free Report) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,236,920 shares of the communications equipment provider's stock after purchasing an additional 17,447 shares during the quarter. Ciena comprises about 1.5% of Barrow Hanley Mewhinney & Strauss LLC's investment portfolio, making the stock its 21st largest holding. Barrow Hanley Mewhinney & Strauss LLC owned 3.68% of Ciena worth $444,143,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of CIEN. Versant Capital Management Inc lifted its stake in shares of Ciena by 925.0% in the 4th quarter. Versant Capital Management Inc now owns 328 shares of the communications equipment provider's stock worth $28,000 after acquiring an additional 296 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Ciena by 328.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 364 shares of the communications equipment provider's stock worth $30,000 after purchasing an additional 279 shares during the period. Picton Mahoney Asset Management acquired a new position in shares of Ciena during the 4th quarter valued at $41,000. Parkside Financial Bank & Trust raised its stake in shares of Ciena by 409.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 520 shares of the communications equipment provider's stock worth $44,000 after buying an additional 418 shares in the last quarter. Finally, Kieckhefer Group LLC acquired a new stake in shares of Ciena in the fourth quarter valued at $59,000. Institutional investors and hedge funds own 91.99% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Morgan Stanley reduced their price objective on shares of Ciena from $80.00 to $76.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 12th. Citigroup increased their price objective on Ciena from $84.00 to $98.00 and gave the company a "buy" rating in a research report on Friday, December 13th. Rosenblatt Securities reduced their price objective on Ciena from $94.00 to $79.00 and set a "neutral" rating for the company in a research note on Friday, March 7th. JPMorgan Chase & Co. raised Ciena from a "neutral" rating to an "overweight" rating and upped their target price for the company from $84.00 to $88.00 in a report on Tuesday, January 28th. Finally, Needham & Company LLC dropped their price target on Ciena from $95.00 to $90.00 and set a "buy" rating on the stock in a research note on Wednesday, March 12th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $81.38.

Ciena Stock Performance

CIEN traded down $7.48 during trading on Thursday, hitting $57.55. The stock had a trading volume of 1,201,002 shares, compared to its average volume of 1,972,620. The firm has a market cap of $8.18 billion, a PE ratio of 100.97, a P/E/G ratio of 1.54 and a beta of 0.91. The company has a 50 day simple moving average of $77.11 and a 200-day simple moving average of $74.23. Ciena Co. has a 12 month low of $43.30 and a 12 month 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.

Insider Activity at Ciena

In other news, SVP Jason Phipps sold 18,888 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $59.88, for a total value of $1,131,013.44. Following 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Brodie Gage sold 350 shares of Ciena stock in a transaction that occurred 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 transaction, the senior vice president now owns 49,547 shares of the company's stock, valued at $4,256,582.77. This trade represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,200 shares of company stock valued at $4,921,513 over the last quarter. 0.93% of the stock is owned by company insiders.

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.