Neuberger Berman Group LLC Sells 305,813 Shares of Ciena Co. (NYSE:CIEN)

Neuberger Berman Group LLC decreased its holdings in Ciena Co. (NYSE:CIEN - Free Report) by 14.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,824,717 shares of the communications equipment provider's stock after selling 305,813 shares during the quarter. Neuberger Berman Group LLC owned 1.28% of Ciena worth $154,770,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in CIEN. Annis Gardner Whiting Capital Advisors LLC grew its position in shares of Ciena by 108.6% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 290 shares of the communications equipment provider's stock valued at $25,000 after acquiring an additional 151 shares during the period. Versant Capital Management Inc increased its position in Ciena by 925.0% in the fourth quarter. Versant Capital Management Inc now owns 328 shares of the communications equipment provider's stock worth $28,000 after buying an additional 296 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of 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 buying an additional 279 shares during the period. Bessemer Group Inc. lifted its position in shares of Ciena by 73.7% during the 4th quarter. Bessemer Group Inc. now owns 356 shares of the communications equipment provider's stock valued at $30,000 after buying an additional 151 shares in the last quarter. Finally, Atlas Capital Advisors Inc. increased its holdings in Ciena by 77.2% in the 4th quarter. Atlas Capital Advisors Inc. now owns 420 shares of the communications equipment provider's stock worth $36,000 after acquiring an additional 183 shares in the last quarter. 91.99% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

CIEN has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upgraded shares of Ciena from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $84.00 to $88.00 in a research report on Tuesday, January 28th. Needham & Company LLC dropped their target price on shares of Ciena from $95.00 to $90.00 and set a "buy" rating for the company in a report on Wednesday, March 12th. Northland Capmk raised Ciena from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 12th. Morgan Stanley dropped their price objective on Ciena from $80.00 to $76.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 12th. Finally, Rosenblatt Securities decreased their target price on Ciena from $94.00 to $79.00 and set a "neutral" rating on the stock in a research note on Friday, March 7th. Four investment 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, the stock presently has an average rating of "Moderate Buy" and an average price target of $79.62.

Ciena Trading Up 1.4 %

Shares of NYSE CIEN traded up $0.84 during trading hours on Tuesday, hitting $59.34. 533,288 shares of the company traded hands, compared to its average volume of 2,012,125. The stock has a market capitalization of $8.43 billion, a price-to-earnings ratio of 104.11, a price-to-earnings-growth ratio of 1.54 and a beta of 1.15. The company's 50 day moving average price is $71.16 and its 200 day moving average price is $74.08. 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 Buying and Selling at Ciena

In other Ciena news, SVP David M. Rothenstein sold 2,500 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $68.88, for a total value of $172,200.00. Following the sale, the senior vice president now owns 207,370 shares in the company, valued at $14,283,645.60. This trade represents a 1.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Brodie Gage sold 350 shares of Ciena stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $85.91, for a total value of $30,068.50. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,288 shares of company stock worth $3,484,670 over the last quarter. Insiders own 0.93% of the company's stock.

Ciena Company 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.