Fort Washington Investment Advisors Inc. OH Has $13.48 Million Stake in Ciena Co. (NYSE:CIEN)

Fort Washington Investment Advisors Inc. OH grew its holdings in Ciena Co. (NYSE:CIEN) by 13.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 279,850 shares of the communications equipment provider’s stock after purchasing an additional 33,510 shares during the quarter. Fort Washington Investment Advisors Inc. OH owned about 0.19% of Ciena worth $13,483,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Kapitalo Investimentos Ltda bought a new position in Ciena in the fourth quarter valued at about $30,000. Register Financial Advisors LLC acquired a new position in Ciena during the 1st quarter valued at about $33,000. Headlands Technologies LLC bought a new position in shares of Ciena in the 1st quarter valued at about $40,000. Canton Hathaway LLC acquired a new stake in shares of Ciena during the 2nd quarter worth approximately $40,000. Finally, Covestor Ltd raised its stake in shares of Ciena by 339.5% during the first quarter. Covestor Ltd now owns 1,213 shares of the communications equipment provider’s stock worth $60,000 after buying an additional 937 shares during the last quarter. Institutional investors own 91.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Needham & Company LLC lifted their target price on shares of Ciena from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. JPMorgan Chase & Co. dropped their price objective on Ciena from $67.00 to $60.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. Rosenblatt Securities increased their target price on Ciena from $52.50 to $54.00 and gave the company a “neutral” rating in a research note on Friday, June 7th. Morgan Stanley upgraded Ciena from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $53.00 to $55.00 in a research report on Wednesday, June 12th. Finally, Barclays cut their price target on shares of Ciena from $63.00 to $55.00 and set an “overweight” rating on the stock in a research report on Friday, June 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $57.25.

Ciena Stock Up 1.6 %

Ciena stock opened at $57.62 on Friday. The company has a 50 day moving average of $50.40 and a 200-day moving average of $50.02. The company has a quick ratio of 2.76, a current ratio of 3.88 and a debt-to-equity ratio of 0.53. Ciena Co. has a twelve month low of $39.94 and a twelve month high of $63.24. The stock has a market capitalization of $8.28 billion, a PE ratio of 55.40, a price-to-earnings-growth ratio of 5.35 and a beta of 0.94.

Ciena (NYSE:CIEN) last announced its earnings results on Thursday, June 6th. The communications equipment provider reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.12. Ciena had a net margin of 3.71% and a return on equity of 7.16%. The firm had revenue of $910.80 million during the quarter, compared to analyst estimates of $895.80 million. During the same period in the prior year, the business earned $0.59 EPS. The company’s revenue for the quarter was down 19.6% compared to the same quarter last year. On average, equities research analysts anticipate that Ciena Co. will post 1.15 EPS for the current fiscal year.

Insider Buying and Selling

In other Ciena news, SVP Jason Phipps sold 2,712 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $48.29, for a total transaction of $130,962.48. Following the completion of the transaction, the senior vice president now owns 96,000 shares of the company’s stock, valued at approximately $4,635,840. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, SVP Jason Phipps sold 2,712 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $48.29, for a total transaction of $130,962.48. Following the completion of the transaction, the senior vice president now directly owns 96,000 shares in the company, valued at approximately $4,635,840. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Gary B. Smith sold 4,166 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $47.99, for a total value of $199,926.34. Following the completion of the transaction, the chief executive officer now owns 372,611 shares of the company’s stock, valued at approximately $17,881,601.89. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,378 shares of company stock worth $501,724. 0.83% of the stock is owned by corporate insiders.

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.