Marcus Capital Lowers stake in Ciena Corporation (CIEN)

Ciena Corporation (CIEN) : Marcus Capital reduced its stake in Ciena Corporation by 0.88% during the most recent quarter end. The investment management company now holds a total of 129,850 shares of Ciena Corporation which is valued at $2,630,761 after selling 1,150 shares in Ciena Corporation , the firm said in a disclosure report filed with the SEC on Jul 19, 2016.Ciena Corporation makes up approximately 2.64% of Marcus Capital’s portfolio.

Other Hedge Funds, Including , 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.Simplex Trading reduced its stake in CIEN by selling 2,436 shares or 10.44% in the most recent quarter. The Hedge Fund company now holds 20,890 shares of CIEN which is valued at $423,231. Ciena Corporation makes up approx 0.05% of Simplex Trading’s portfolio.First Manhattan Co reduced its stake in CIEN by selling 1,800 shares or 3.45% in the most recent quarter. The Hedge Fund company now holds 50,440 shares of CIEN which is valued at $1,017,375. Ciena Corporation makes up approx 0.01% of First Manhattan Co’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.

Ciena Corporation opened for trading at $20.11 and hit $20.289 on the upside on Wednesday, eventually ending the session at $20.26, with a gain of 1.25% or 0.25 points. The heightened volatility saw the trading volume jump to 14,15,874 shares. Company has a market cap of $2,798 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 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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