Barrow Hanley Mewhinney & Strauss LLC Has $444.14 Million Stake in Ciena Co. (NYSE:CIEN)

Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Ciena Co. (NYSE:CIEN) by 0.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 5,236,920 shares of the communications equipment provider’s stock after purchasing an additional 17,447 shares during the period. Ciena accounts for approximately 1.5% of Barrow Hanley Mewhinney & Strauss LLC’s holdings, making the stock its 21st biggest position. Barrow Hanley Mewhinney & Strauss LLC’s holdings in Ciena were worth $444,143,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Greenleaf Trust raised its holdings in Ciena by 2.8% in the 4th quarter. Greenleaf Trust now owns 4,978 shares of the communications equipment provider’s stock valued at $422,000 after acquiring an additional 136 shares in the last quarter. US Bancorp DE raised its stake in shares of Ciena by 1.5% in the fourth quarter. US Bancorp DE now owns 10,459 shares of the communications equipment provider’s stock valued at $887,000 after purchasing an additional 152 shares in the last quarter. Coldstream Capital Management Inc. lifted its position in Ciena by 3.8% in the third quarter. Coldstream Capital Management Inc. now owns 4,742 shares of the communications equipment provider’s stock worth $292,000 after purchasing an additional 175 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Ciena by 0.7% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 31,897 shares of the communications equipment provider’s stock worth $2,705,000 after buying an additional 220 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its stake in Ciena by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 4,469 shares of the communications equipment provider’s stock worth $379,000 after buying an additional 226 shares in the last quarter. Institutional investors own 91.99% of the company’s stock.

Insider Activity at Ciena

In related news, SVP Jason Phipps sold 5,648 shares of Ciena stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $84.64, for a total transaction of $478,046.72. Following the transaction, the senior vice president now owns 109,878 shares of the company’s stock, valued at $9,300,073.92. This trade represents a 4.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP David M. Rothenstein sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $68.88, for a total transaction of $172,200.00. Following the completion of the sale, the senior vice president now directly owns 207,370 shares of the company’s stock, valued at $14,283,645.60. The trade was a 1.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,560 shares of company stock worth $5,406,323 over the last 90 days. Insiders own 0.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CIEN shares. Barclays set a $100.00 price objective on shares of Ciena and gave the stock an “overweight” rating in a report on Wednesday, March 12th. JPMorgan Chase & Co. upgraded shares of Ciena from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $84.00 to $88.00 in a research note on Tuesday, January 28th. Northland Capmk raised Ciena from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 12th. Northland Securities raised Ciena from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $60.00 to $75.00 in a research note on Wednesday, March 12th. Finally, Needham & Company LLC dropped their price objective on Ciena from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $81.38.

Ciena Trading Down 2.2 %

Shares of NYSE CIEN opened at $61.50 on Friday. The company has a 50-day moving average of $78.74 and a two-hundred day moving average of $74.07. The company has a market cap of $8.74 billion, a PE ratio of 107.90, a P/E/G ratio of 1.54 and a beta of 0.91. Ciena Co. has a 1-year low of $43.30 and a 1-year high of $101.44. The company has a current ratio of 3.55, a quick ratio of 2.72 and a debt-to-equity ratio of 0.54.

Ciena Profile

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.