Valicenti Advisory Services Inc Lowers stake in Ciena Corporation (CIEN)

Ciena Corporation (CIEN) : Valicenti Advisory Services Inc reduced its stake in Ciena Corporation by 0.45% during the most recent quarter end. The investment management company now holds a total of 99,815 shares of Ciena Corporation which is valued at $2,037,224 after selling 450 shares in Ciena Corporation , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Ciena Corporation makes up approximately 1.25% of Valicenti Advisory Services Inc’s portfolio.

Other Hedge Funds, Including , Retirement Systems Of Alabama reduced its stake in CIEN by selling 354,799 shares or 68.02% in the most recent quarter. The Hedge Fund company now holds 166,786 shares of CIEN which is valued at $3,404,102. Ciena Corporation makes up approx 0.02% of Retirement Systems Of Alabama’s portfolio.Creative Planning reduced its stake in CIEN by selling 24,428 shares or 49.79% in the most recent quarter. The Hedge Fund company now holds 24,630 shares of CIEN which is valued at $484,718.Curian Capital reduced its stake in CIEN by selling 29,395 shares or 63.46% in the most recent quarter. The Hedge Fund company now holds 16,924 shares of CIEN which is valued at $323,079. Ciena Corporation makes up approx 0.02% of Curian Capital’s portfolio.

Ciena Corporation closed down -0.2 points or -1.03% at $19.19 with 34,45,330 shares getting traded on Friday. Post opening the session at $19.42, the shares hit an intraday low of $18.895 and an intraday high of $19.515 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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 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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