Loomis Sayles & Co. L P Decreases Stock Holdings in Ciena Co. (NYSE:CIEN)

Loomis Sayles & Co. L P lessened its stake in shares of Ciena Co. (NYSE:CIEN) by 3.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 430,510 shares of the communications equipment provider’s stock after selling 13,417 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Ciena were worth $36,512,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Versant Capital Management Inc boosted its holdings in 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 purchasing an additional 296 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Ciena by 328.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 364 shares of the communications equipment provider’s stock valued at $30,000 after buying an additional 279 shares during the period. Picton Mahoney Asset Management purchased a new position in shares of Ciena in the 4th quarter worth $41,000. Parkside Financial Bank & Trust grew its holdings in shares of Ciena by 409.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 520 shares of the communications equipment provider’s stock worth $44,000 after acquiring an additional 418 shares during the period. Finally, Kieckhefer Group LLC purchased a new stake in Ciena during the fourth quarter valued at $59,000. 91.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CIEN shares. B. Riley reissued a “buy” rating and issued a $89.00 target price (down from $97.00) on shares of Ciena in a research report on Wednesday, March 12th. Needham & Company LLC cut their target price on shares of Ciena from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday, March 12th. Bank of America upgraded shares of Ciena from a “neutral” rating to a “buy” rating and increased their price target for the stock from $70.00 to $95.00 in a research report on Friday, December 13th. Citigroup boosted their price objective on shares of Ciena from $84.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $82.00 target price (up from $75.00) on shares of Ciena in a report on Tuesday, December 10th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $81.38.

Ciena Stock Down 4.6 %

Shares of CIEN opened at $62.75 on Friday. The business’s 50 day moving average is $79.21 and its 200 day moving average is $73.85. The company has a current ratio of 3.55, a quick ratio of 2.72 and a debt-to-equity ratio of 0.54. Ciena Co. has a 12-month low of $43.30 and a 12-month high of $101.44. The company has a market capitalization of $8.92 billion, a PE ratio of 110.08, a price-to-earnings-growth ratio of 1.54 and a beta of 0.91.

Insider Activity

In other news, Director Bruce L. Claflin sold 16,912 shares of Ciena stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $84.96, for a total value of $1,436,843.52. Following the sale, the director now directly owns 59,347 shares of the company’s stock, valued at approximately $5,042,121.12. The trade was a 22.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Brodie Gage sold 350 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $85.91, for a total value of $30,068.50. Following the transaction, the senior vice president now directly owns 49,547 shares of the company’s stock, valued at approximately $4,256,582.77. The trade was a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,560 shares of company stock worth $5,406,323 over the last quarter. Insiders own 0.93% of the company’s stock.

Ciena Company 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.