Hsbc Holdings PLC Has $3.77 Million Stock Holdings in Ciena Co. (NYSE:CIEN)

Hsbc Holdings PLC grew its holdings in Ciena Co. (NYSE:CIEN) by 959.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 77,780 shares of the communications equipment provider’s stock after buying an additional 70,436 shares during the quarter. Hsbc Holdings PLC’s holdings in Ciena were worth $3,767,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC increased its stake in shares of Ciena by 1,171.4% in the second quarter. SG Americas Securities LLC now owns 44,854 shares of the communications equipment provider’s stock valued at $2,161,000 after buying an additional 41,326 shares in the last quarter. First Hawaiian Bank acquired a new stake in shares of Ciena in the second quarter valued at $661,000. Bank of New York Mellon Corp increased its stake in shares of Ciena by 13.8% in the second quarter. Bank of New York Mellon Corp now owns 1,499,035 shares of the communications equipment provider’s stock valued at $72,223,000 after buying an additional 181,358 shares in the last quarter. Capital Fund Management S.A. boosted its holdings in Ciena by 67.3% in the fourth quarter. Capital Fund Management S.A. now owns 225,172 shares of the communications equipment provider’s stock valued at $10,135,000 after acquiring an additional 90,610 shares during the last quarter. Finally, Deepwater Asset Management LLC bought a new position in Ciena in the first quarter valued at about $1,587,000. 91.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP David M. Rothenstein sold 3,500 shares of Ciena stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $48.81, for a total transaction of $170,835.00. Following the transaction, the senior vice president now owns 212,421 shares in the company, valued at approximately $10,368,269.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Jason Phipps sold 2,712 shares of Ciena stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $48.29, for a total value of $130,962.48. Following the sale, the senior vice president now owns 96,000 shares of the company’s stock, valued at approximately $4,635,840. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP David M. Rothenstein sold 3,500 shares of Ciena stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $48.81, for a total value of $170,835.00. Following the completion of the sale, the senior vice president now directly owns 212,421 shares in the company, valued at approximately $10,368,269.01. The disclosure for this sale can be found here. Insiders have sold 9,712 shares of company stock worth $498,637 in the last 90 days. Corporate insiders own 0.83% of the company’s stock.

Analysts Set New Price Targets

CIEN has been the topic of several recent research reports. Needham & Company LLC reiterated a “buy” rating and issued a $65.00 price target on shares of Ciena in a report on Thursday, September 5th. JPMorgan Chase & Co. decreased their price target on Ciena from $67.00 to $60.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Barclays raised their price target on Ciena from $55.00 to $67.00 and gave the company an “overweight” rating in a report on Thursday, September 5th. Stifel Nicolaus raised their price target on Ciena from $62.00 to $68.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Finally, Bank of America reiterated a “neutral” rating and issued a $59.00 price target on shares of Ciena in a report on Thursday, September 5th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $61.00.

Ciena Trading Down 1.9 %

NYSE:CIEN opened at $60.53 on Wednesday. Ciena Co. has a fifty-two week low of $39.94 and a fifty-two week high of $63.24. The company has a debt-to-equity ratio of 0.53, a current ratio of 4.06 and a quick ratio of 2.99. The stock has a market capitalization of $8.70 billion, a PE ratio of 58.20, a price-to-earnings-growth ratio of 6.86 and a beta of 0.94. The business’s 50-day simple moving average is $53.09 and its 200-day simple moving average is $49.79.

Ciena (NYSE:CIEN) last released its quarterly earnings data on Wednesday, September 4th. The communications equipment provider reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.09. Ciena had a return on equity of 5.98% and a net margin of 3.44%. The business had revenue of $942.30 million for the quarter, compared to analysts’ expectations of $928.31 million. During the same quarter in the previous year, the business posted $0.36 EPS. Ciena’s revenue for the quarter was down 11.8% on a year-over-year basis. Sell-side analysts expect that Ciena Co. will post 1.15 earnings per share for the current fiscal year.

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.