Quentec Asset Management buys $9,719,331 stake in Ciena Corporation (CIEN)

Ciena Corporation (CIEN) : Quentec Asset Management scooped up 167,051 additional shares in Ciena Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 467,051 shares of Ciena Corporation which is valued at $9,719,331.Ciena Corporation makes up approximately 2.15% of Quentec Asset Management’s portfolio.

Other Hedge Funds, Including , Carlson Capital L P boosted its stake in CIEN in the latest quarter, The investment management firm added 1,610,039 additional shares and now holds a total of 3,650,000 shares of Ciena Corporation which is valued at $75,956,500. Ciena Corporation makes up approx 0.93% of Carlson Capital L P’s portfolio.Liberty Mutual Group Asset Management boosted its stake in CIEN in the latest quarter, The investment management firm added 5,874 additional shares and now holds a total of 56,081 shares of Ciena Corporation which is valued at $1,167,046. Ciena Corporation makes up approx 0.04% of Liberty Mutual Group Asset Management’s portfolio. Spark Investment Management sold out all of its stake in CIEN during the most recent quarter. The investment firm sold 48,700 shares of CIEN which is valued $1,013,447.Spot Trading L.l.c reduced its stake in CIEN by selling 15,329 shares or 24.46% in the most recent quarter. The Hedge Fund company now holds 47,337 shares of CIEN which is valued at $924,492. Ciena Corporation makes up approx 0.12% of Spot Trading L.l.c’s portfolio.Farmers Merchants Investments Inc reduced its stake in CIEN by selling 30 shares or 9.2% in the most recent quarter. The Hedge Fund company now holds 296 shares of CIEN which is valued at $5,997.

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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