Coldstream Capital Management Inc. Has $292,000 Stock Position in Ciena Co. (NYSE:CIEN)

Coldstream Capital Management Inc. increased its position in shares of Ciena Co. (NYSE:CIEN) by 3.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 4,742 shares of the communications equipment provider’s stock after buying an additional 175 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Ciena were worth $292,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC boosted its holdings in Ciena by 0.5% during the third 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. Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Ciena by 119.9% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,397,560 shares of the communications equipment provider’s stock worth $260,054,000 after purchasing an additional 2,943,146 shares during the last quarter. State Street Corp boosted its stake in Ciena by 1.2% during the 3rd quarter. State Street Corp now owns 4,439,478 shares of the communications equipment provider’s stock valued at $273,427,000 after purchasing an additional 53,078 shares during the period. Dimensional Fund Advisors LP grew its holdings in Ciena by 24.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,706,308 shares of the communications equipment provider’s stock valued at $130,392,000 after buying an additional 523,313 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Ciena by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,408,014 shares of the communications equipment provider’s stock worth $148,348,000 after buying an additional 33,074 shares during the period. 91.99% of the stock is currently owned by institutional investors and hedge funds.

Ciena Stock Performance

Shares of NYSE:CIEN opened at $89.72 on Monday. The stock has a market capitalization of $12.96 billion, a price-to-earnings ratio of 157.40, a price-to-earnings-growth ratio of 5.95 and a beta of 0.95. The business’s fifty day moving average price is $68.91 and its two-hundred day moving average price is $57.92. Ciena Co. has a fifty-two week low of $42.20 and a fifty-two week high of $91.25. The company has a debt-to-equity ratio of 0.53, a current ratio of 4.06 and a quick ratio of 2.99.

Ciena (NYSE:CIEN) last issued its quarterly earnings data on Thursday, December 12th. The communications equipment provider reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.12). Ciena had a return on equity of 5.98% and a net margin of 3.44%. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the prior year, the company posted $0.56 earnings per share. Ciena’s quarterly revenue was down .5% compared to the same quarter last year. As a group, analysts predict that Ciena Co. will post 1.13 EPS for the current fiscal year.

Ciena declared that its board has initiated a stock repurchase plan on Wednesday, October 2nd that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the communications equipment provider to reacquire up to 10.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

CIEN has been the subject of several research reports. Morgan Stanley cut Ciena from an “overweight” rating to an “equal weight” rating and set a $63.00 price objective for the company. in a research report on Monday, October 28th. Northland Securities increased their price target on shares of Ciena from $46.00 to $60.00 and gave the company a “market perform” rating in a report on Friday. Needham & Company LLC boosted their price objective on shares of Ciena from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Friday. Citigroup increased 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. Finally, Evercore ISI downgraded Ciena from an “outperform” rating to an “in-line” rating and set a $65.00 target price on the stock. in a research report on Tuesday, October 15th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $77.00.

Insider Transactions at Ciena

In other news, SVP Jason Phipps sold 2,200 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $61.49, for a total transaction of $135,278.00. Following the sale, the senior vice president now directly owns 91,149 shares of the company’s stock, valued at $5,604,752.01. This represents a 2.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP David M. Rothenstein sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $67.43, for a total transaction of $236,005.00. Following the completion of the transaction, the senior vice president now owns 199,997 shares of the company’s stock, valued at $13,485,797.71. This trade represents a 1.72 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,989 shares of company stock worth $460,211. Insiders own 0.83% of the company’s stock.

Ciena 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.