Dynamic Capital Management Ltd adds Ciena Corporation (CIEN) to its portfolio

Ciena Corporation (CIEN) : Dynamic Capital Management Ltd added new position in Ciena Corporation during the most recent quarter end. The investment management firm now holds 453,792 shares of Ciena Corporation which is valued at $9,443,412 , the company said in a statement filed on Aug 15, 2016 with the SEC.Ciena Corporation makes up approximately 1.06% of Dynamic Capital Management Ltd’s portfolio.

Other Hedge Funds, Including , Etrade Capital Management boosted its stake in CIEN in the latest quarter, The investment management firm added 1,766 additional shares and now holds a total of 41,327 shares of Ciena Corporation which is valued at $860,015. Ciena Corporation makes up approx 0.04% of Etrade Capital Management’s portfolio. Gsa Capital Partners Llp added CIEN to its portfolio by purchasing 35,820 company shares during the most recent quarter which is valued at $724,280. Ciena Corporation makes up approx 0.04% of Gsa Capital Partners Llp’s portfolio.Emerald Advisers Incpa reduced its stake in CIEN by selling 112,940 shares or 14.25% in the most recent quarter. The Hedge Fund company now holds 679,753 shares of CIEN which is valued at $13,044,460. Ciena Corporation makes up approx 0.59% of Emerald Advisers Incpa’s portfolio.Cornerstone Advisors reduced its stake in CIEN by selling 1,410 shares or 87.63% in the most recent quarter. The Hedge Fund company now holds 199 shares of CIEN which is valued at $4,062.

Ciena Corporation opened for trading at $22.32 and hit $23.6 on the upside on Thursday, eventually ending the session at $23.17, with a gain of 8.02% or 1.72 points. The heightened volatility saw the trading volume jump to 1,22,56,635 shares. Company has a market cap of $3,200 M.

On the company’s financial health, Ciena Corporation reported $0.42 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Sep 1, 2016. Analyst had a consensus of $0.38. The company had revenue of $670.60 million for the quarter, compared to analysts expectations of $672.23 million. The company’s revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.37 EPS.

Many Wall Street Analysts have commented on Ciena Corporation. Company shares were Reiterated by Deutsche Bank on Sep 2, 2016 to “Hold”, Firm has raised the Price Target to $ 20 from a previous price target of $18.50 .Company shares were Reiterated by Dougherty & Company on Sep 2, 2016 to “Buy”, Firm has raised the Price Target to $ 26 from a previous price target of $25 .Ciena Corporation was Downgraded by Morgan Stanley to ” Equal-Weight” on Sep 2, 2016.

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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