Tectonic Advisors LLC Has $6.26 Million Stock Position in Ciena Co. (NYSE:CIEN)

Tectonic Advisors LLC raised its holdings in Ciena Co. (NYSE:CIEN - Free Report) by 27.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 73,838 shares of the communications equipment provider's stock after buying an additional 15,996 shares during the quarter. Tectonic Advisors LLC owned 0.05% of Ciena worth $6,262,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Versant Capital Management Inc grew its stake in shares of 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 acquiring an additional 296 shares during the last quarter. Hoese & Co LLP acquired a new stake in Ciena in the 3rd quarter worth $25,000. UMB Bank n.a. increased its holdings in shares of Ciena by 424.4% during the 3rd quarter. UMB Bank n.a. now owns 451 shares of the communications equipment provider's stock worth $28,000 after purchasing an additional 365 shares during the period. Kieckhefer Group LLC acquired a new position in shares of Ciena during the fourth quarter valued at about $59,000. Finally, First Horizon Advisors Inc. lifted its stake in shares of Ciena by 152.8% in the third quarter. First Horizon Advisors Inc. now owns 847 shares of the communications equipment provider's stock valued at $52,000 after buying an additional 512 shares during the period. 91.99% of the stock is owned by institutional investors.

Ciena Price Performance

CIEN stock traded down $3.38 during midday trading on Friday, reaching $89.74. 1,765,192 shares of the company's stock traded hands, compared to its average volume of 2,759,345. The company has a 50-day simple moving average of $84.04 and a two-hundred day simple moving average of $68.58. The company has a quick ratio of 2.72, a current ratio of 3.55 and a debt-to-equity ratio of 0.54. Ciena Co. has a 1-year low of $43.30 and a 1-year high of $101.44. The company has a market cap of $12.75 billion, a price-to-earnings ratio of 157.44, a PEG ratio of 1.66 and a beta of 0.88.

Ciena (NYSE:CIEN - Get Free Report) last announced its earnings results on Thursday, December 12th. The communications equipment provider reported $0.54 earnings per share for the quarter, missing analysts' consensus estimates of $0.66 by ($0.12). The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.10 billion. Ciena had a net margin of 2.09% and a return on equity of 4.72%. The business's quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the business posted $0.56 earnings per share. On average, analysts anticipate that Ciena Co. will post 1.6 earnings per share for the current year.

Insider Transactions at Ciena

In related news, SVP Joseph Cumello sold 1,289 shares of the firm's stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $68.99, for a total value of $88,928.11. Following the transaction, the senior vice president now owns 39,486 shares in the company, valued at $2,724,139.14. This trade represents a 3.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jason Phipps sold 5,648 shares of the business's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $84.64, for a total value of $478,046.72. Following the sale, the senior vice president now directly owns 109,878 shares of the company's stock, valued at $9,300,073.92. This represents a 4.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 57,581 shares of company stock worth $4,875,548. Corporate insiders own 0.83% of the company's stock.

Analysts Set New Price Targets

CIEN has been the subject of a number of research reports. Northland Securities raised their price objective on Ciena from $46.00 to $60.00 and gave the stock a "market perform" rating in a research report on Friday, December 13th. Needham & Company LLC reiterated a "buy" rating and set a $95.00 price target on shares of Ciena in a research note on Friday, January 10th. JPMorgan Chase & Co. upgraded shares of Ciena from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $84.00 to $88.00 in a research note on Tuesday, January 28th. Morgan Stanley lowered shares of Ciena from an "overweight" rating to an "equal weight" rating and set a $63.00 target price on the stock. in a research report on Monday, October 28th. Finally, Evercore ISI lowered shares of Ciena from an "outperform" rating to an "in-line" rating and set a $65.00 price target for the company. in a research report on Tuesday, October 15th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $78.77.

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.