Ciena Co. (NYSE:CIEN) Shares Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas lifted its holdings in shares of Ciena Co. (NYSE:CIEN - Free Report) by 73.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 36,968 shares of the communications equipment provider's stock after acquiring an additional 15,612 shares during the period. Teacher Retirement System of Texas' holdings in Ciena were worth $3,135,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its position in Ciena by 7.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 16,327 shares of the communications equipment provider's stock valued at $1,006,000 after purchasing an additional 1,116 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Ciena by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 955,516 shares of the communications equipment provider's stock valued at $58,850,000 after buying an additional 6,605 shares during the last quarter. Cerity Partners LLC boosted its stake in shares of Ciena by 70.3% during the third quarter. Cerity Partners LLC now owns 47,929 shares of the communications equipment provider's stock worth $2,952,000 after buying an additional 19,785 shares during the period. Bank of Montreal Can grew its holdings in shares of Ciena by 44.0% during the third quarter. Bank of Montreal Can now owns 48,883 shares of the communications equipment provider's stock worth $3,021,000 after buying an additional 14,946 shares during the last quarter. Finally, FMR LLC increased its position in Ciena by 0.5% in the 3rd quarter. FMR LLC now owns 21,664,066 shares of the communications equipment provider's stock valued at $1,334,290,000 after acquiring an additional 108,407 shares during the period. Hedge funds and other institutional investors own 91.99% of the company's stock.

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Insider Buying and Selling at Ciena

In related news, SVP Brodie Gage sold 350 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $90.16, for a total transaction of $31,556.00. Following the transaction, the senior vice president now directly owns 49,197 shares in the company, valued at approximately $4,435,601.52. This represents a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Jason Phipps sold 5,648 shares of Ciena stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $84.64, for a total value of $478,046.72. Following the completion of the sale, the senior vice president now owns 109,878 shares of the company's stock, valued at $9,300,073.92. This trade represents a 4.89 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,560 shares of company stock worth $5,406,323. 0.93% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. B. Riley restated a "buy" rating and set a $89.00 price target (down previously from $97.00) on shares of Ciena in a research note on Wednesday, March 12th. Stifel Nicolaus restated a "buy" rating and set a $82.00 price objective (up previously from $75.00) on shares of Ciena in a research report on Tuesday, December 10th. Northland Capmk upgraded Ciena from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 12th. Rosenblatt Securities cut their target price on Ciena from $94.00 to $79.00 and set a "neutral" rating for the company in a research note on Friday, March 7th. Finally, Needham & Company LLC decreased 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 equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $81.38.

Ciena Price Performance

Shares of Ciena stock traded down $1.05 on Friday, hitting $61.82. The company's stock had a trading volume of 584,954 shares, compared to its average volume of 1,951,044. The company has a quick ratio of 2.72, a current ratio of 3.55 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $8.79 billion, a P/E ratio of 108.41, a price-to-earnings-growth ratio of 1.54 and a beta of 0.91. The firm has a fifty day moving average price of $79.21 and a 200-day moving average price of $73.85. Ciena Co. has a 52-week low of $43.30 and a 52-week high of $101.44.

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.