New Age Alpha Advisors LLC Invests $7.63 Million in Ciena Co. (NYSE:CIEN)

New Age Alpha Advisors LLC acquired a new stake in Ciena Co. (NYSE:CIEN - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 89,902 shares of the communications equipment provider's stock, valued at approximately $7,625,000. New Age Alpha Advisors LLC owned approximately 0.06% of Ciena at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Greenleaf Trust lifted its holdings in Ciena by 2.8% during the 4th quarter. Greenleaf Trust now owns 4,978 shares of the communications equipment provider's stock worth $422,000 after buying an additional 136 shares during the last quarter. US Bancorp DE grew its position in shares of Ciena by 1.5% in the 4th quarter. US Bancorp DE now owns 10,459 shares of the communications equipment provider's stock valued at $887,000 after buying an additional 152 shares during the last quarter. Coldstream Capital Management Inc. boosted its position in shares of Ciena by 3.8% in the 3rd quarter. Coldstream Capital Management Inc. now owns 4,742 shares of the communications equipment provider's stock valued at $292,000 after purchasing an additional 175 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Ciena by 0.7% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 31,897 shares of the communications equipment provider's stock valued at $2,705,000 after buying an additional 220 shares during the last quarter. Finally, CIBC Asset Management Inc increased its stake in Ciena by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 4,469 shares of the communications equipment provider's stock valued at $379,000 after buying an additional 226 shares during the period. 91.99% of the stock is owned by hedge funds and other institutional investors.

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Ciena Trading Up 0.6 %

CIEN traded up $0.37 during midday trading on Tuesday, hitting $60.80. The company's stock had a trading volume of 554,216 shares, compared to its average volume of 1,960,204. The firm has a market cap of $8.64 billion, a P/E ratio of 107.14, a PEG ratio of 1.54 and a beta of 0.91. Ciena Co. has a 52-week low of $43.30 and a 52-week 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. The firm has a 50-day moving average price of $78.25 and a two-hundred day moving average price of $74.25.

Insider Activity at Ciena

In other Ciena news, SVP David M. Rothenstein sold 2,500 shares of the business's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $68.88, for a total transaction of $172,200.00. Following the transaction, the senior vice president now owns 207,370 shares in the company, valued at $14,283,645.60. The trade was a 1.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Gary B. Smith sold 6,800 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $65.18, for a total value of $443,224.00. Following the completion of the sale, the chief executive officer now owns 391,749 shares of the company's stock, valued at approximately $25,534,199.82. This trade represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,560 shares of company stock worth $5,406,323. 0.93% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CIEN. Northland Securities upgraded shares of Ciena from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $60.00 to $75.00 in a research note on Wednesday, March 12th. Needham & Company LLC lowered their price target on shares of Ciena from $95.00 to $90.00 and set a "buy" rating on the stock in a research note on Wednesday, March 12th. Northland Capmk upgraded shares of Ciena from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 12th. B. Riley reissued a "buy" rating and issued a $89.00 price objective (down from $97.00) on shares of Ciena in a research note on Wednesday, March 12th. Finally, Stifel Nicolaus reaffirmed a "buy" rating and issued a $82.00 price target (up previously from $75.00) on shares of Ciena in a report on Tuesday, December 10th. 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 stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $81.38.

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.