Cullen Frost Bankers Inc. Has $62,000 Stake in Ciena Co. (NYSE:CIEN)

Cullen Frost Bankers Inc. boosted its holdings in shares of Ciena Co. (NYSE:CIEN) by 48.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,586 shares of the communications equipment provider’s stock after buying an additional 516 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Ciena were worth $62,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of CIEN. FMR LLC increased its position in Ciena by 605.3% during the first quarter. FMR LLC now owns 1,249,825 shares of the communications equipment provider’s stock worth $46,669,000 after buying an additional 1,072,632 shares during the last quarter. South Texas Money Management Ltd. acquired a new position in Ciena during the second quarter worth $19,975,000. WINTON GROUP Ltd acquired a new position in Ciena during the second quarter worth $5,267,000. Douglass Winthrop Advisors LLC bought a new stake in Ciena during the second quarter valued at about $882,000. Finally, Campbell & CO Investment Adviser LLC bought a new stake in Ciena during the second quarter valued at about $258,000. 88.63% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts have issued reports on the stock. B. Riley set a $56.00 price target on shares of Ciena and gave the company a “buy” rating in a report on Friday, October 25th. Evercore ISI assumed coverage on shares of Ciena in a report on Wednesday, September 11th. They set an “outperform” rating and a $48.00 price target for the company. Needham & Company LLC restated a “hold” rating on shares of Ciena in a report on Tuesday, September 3rd. ValuEngine cut shares of Ciena from a “buy” rating to a “hold” rating in a report on Friday, September 6th. Finally, Nomura restated a “buy” rating and set a $43.00 price target (down from $47.00) on shares of Ciena in a report on Wednesday, October 2nd. Nine research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $48.35.

NYSE CIEN opened at $37.45 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.45 and a current ratio of 2.90. The firm has a 50-day simple moving average of $37.80 and a 200 day simple moving average of $39.91. Ciena Co. has a twelve month low of $30.33 and a twelve month high of $46.78. The stock has a market cap of $5.76 billion, a PE ratio of 33.44, a PEG ratio of 0.94 and a beta of 1.06.

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Ciena (NYSE:CIEN) last released its earnings results on Thursday, September 5th. The communications equipment provider reported $0.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.21. Ciena had a net margin of 6.77% and a return on equity of 13.64%. The business had revenue of $960.60 million during the quarter, compared to analysts’ expectations of $930.64 million. During the same quarter last year, the company earned $0.48 earnings per share. The firm’s revenue was up 17.3% on a year-over-year basis. Research analysts forecast that Ciena Co. will post 1.88 earnings per share for the current fiscal year.

In other Ciena news, SVP Scott Mcfeely sold 1,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $41.11, for a total transaction of $41,110.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO James E. Moylan, Jr. sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $36.96, for a total transaction of $73,920.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,688 shares of company stock valued at $1,877,809. 1.20% of the stock is owned by corporate insiders.

Ciena Company Profile

Ciena Corporation provides network hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of video, data, and voice traffic on communications networks worldwide. The company's Networking Platforms segment offers hardware networking solutions optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching.

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Institutional Ownership by Quarter for Ciena (NYSE:CIEN)

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