Tectonic Advisors LLC Acquires 15,996 Shares of Ciena Co. (NYSE:CIEN)

Tectonic Advisors LLC lifted its holdings in shares of Ciena Co. (NYSE:CIEN) by 27.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 73,838 shares of the communications equipment provider’s stock after purchasing an additional 15,996 shares during the period. Tectonic Advisors LLC’s holdings in Ciena were worth $6,262,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hoese & Co LLP bought a new stake in Ciena in the 3rd quarter worth $25,000. UMB Bank n.a. grew its holdings in Ciena by 424.4% in the 3rd quarter. UMB Bank n.a. now owns 451 shares of the communications equipment provider’s stock worth $28,000 after acquiring an additional 365 shares during the last quarter. Versant Capital Management Inc grew its holdings in 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 last quarter. First Horizon Advisors Inc. grew its holdings in Ciena by 152.8% in the 3rd quarter. First Horizon Advisors Inc. now owns 847 shares of the communications equipment provider’s stock worth $52,000 after acquiring an additional 512 shares during the last quarter. Finally, Kieckhefer Group LLC bought a new stake in Ciena in the 4th quarter worth $59,000. Institutional investors own 91.99% of the company’s stock.

Ciena Trading Up 3.2 %

Shares of NYSE CIEN opened at $87.85 on Wednesday. Ciena Co. has a 1 year low of $43.30 and a 1 year high of $101.44. The stock has a market cap of $12.49 billion, a P/E ratio of 154.12, a price-to-earnings-growth ratio of 1.55 and a beta of 0.88. The firm has a 50-day moving average of $82.70 and a 200 day moving average of $67.84. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.55 and a quick ratio of 2.72.

Ciena (NYSE:CIEN) last issued its earnings results on Thursday, December 12th. The communications equipment provider reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.12). The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Ciena had a return on equity of 4.72% and a net margin of 2.09%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the firm posted $0.56 earnings per share. As a group, sell-side analysts expect that Ciena Co. will post 1.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CIEN. BNP Paribas lowered shares of Ciena from an “outperform” rating to a “neutral” rating and raised their price target for the stock from $59.00 to $67.00 in a report on Wednesday, October 9th. Citigroup lifted their target price on shares of Ciena from $84.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Barclays lifted their target price on shares of Ciena from $67.00 to $97.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Rosenblatt Securities lifted their target price on shares of Ciena from $75.00 to $94.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $82.00 target price (up previously from $75.00) on shares of Ciena in a research note on Tuesday, December 10th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $78.77.

Insider Activity

In related news, SVP Brodie Gage sold 350 shares of the business’s 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 sale, the senior vice president now directly owns 49,547 shares in the company, valued at approximately $4,256,582.77. The trade was a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP David M. Rothenstein sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $89.09, for a total transaction of $311,815.00. Following the sale, the senior vice president now owns 192,997 shares of the company’s stock, valued at $17,194,102.73. This trade represents a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 57,581 shares of company stock valued at $4,875,548 over the last three months. Insiders own 0.83% of the company’s stock.

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.