1492 Capital Management buys $5,084,362 stake in Ciena Corporation (CIEN)

Ciena Corporation (CIEN) : 1492 Capital Management scooped up 94,259 additional shares in Ciena Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 244,323 shares of Ciena Corporation which is valued at $5,084,362.Ciena Corporation makes up approximately 4.19% of 1492 Capital Management’s portfolio.

Other Hedge Funds, Including , Piermont Capital Management added CIEN to its portfolio by purchasing 27,790 company shares during the most recent quarter which is valued at $578,310. Ciena Corporation makes up approx 0.14% of Piermont Capital Management’s portfolio.State Board Of Administration Of Florida Retirement System reduced its stake in CIEN by selling 917 shares or 0.98% in the most recent quarter. The Hedge Fund company now holds 93,035 shares of CIEN which is valued at $1,881,168. Ciena Corporation makes up approx 0.01% of State Board Of Administration Of Florida Retirement System’s portfolio. Intrust Bank Na added CIEN to its portfolio by purchasing 12,029 company shares during the most recent quarter which is valued at $234,926. Ciena Corporation makes up approx 0.09% of Intrust Bank Na’s portfolio.American Century Companies Inc boosted its stake in CIEN in the latest quarter, The investment management firm added 558,245 additional shares and now holds a total of 1,318,831 shares of Ciena Corporation which is valued at $26,917,341. Ciena Corporation makes up approx 0.03% of American Century Companies Inc’s portfolio. Old Second National Bank Of Aurora added CIEN to its portfolio by purchasing 325 company shares during the most recent quarter which is valued at $6,526.

Ciena Corporation opened for trading at $21.67 and hit $21.73 on the upside on Monday, eventually ending the session at $21.67, with a gain of 0.14% or 0.03 points. The heightened volatility saw the trading volume jump to 19,57,939 shares. Company has a market cap of $2,993 M.

On the company’s financial health, Ciena Corporation reported $0.34 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Jun 2, 2016. Analyst had a consensus of $0.27. The company had revenue of $640.70 million for the quarter, compared to analysts expectations of $630.76 million. The company’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 EPS.

Many Wall Street Analysts have commented on Ciena Corporation. Company shares were Reiterated by Deutsche Bank on Aug 29, 2016 to “Hold”, Firm has raised the Price Target to $ 18.50 from a previous price target of $17 .Company shares were Reiterated by MKM Partners on Jun 6, 2016 to “Buy”, Firm has raised the Price Target to $ 26 from a previous price target of $21 .Company shares were Reiterated by Deutsche Bank on Jun 3, 2016 to “Hold”, Firm has raised the Price Target to $ 17 from a previous price target of $15 .

Ciena Corporation (Ciena) is a provider of communications networking equipment software and services that support the transport switching aggregation and management of voice video and data traffic. The Company operates in four segments: converged packet optical packet networking optical transport and software and services. Its service provider customers include regional national and international wire line and wireless carriers. Its cable operator customers include cable and multiservice operators in the United States and internationally. Its Blue Planet Division provides multi-vendor network management software and service orchestration solutions. Its Blue Planet product portfolio includes software applications including Planet Orchestrate and Planet Operate as well as its software-defined networking (SDN) multilayer wide area network (WAN) controller and its applications V-WAN Agility Matrix and network management solutions.

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