Ciena Corporation $CIEN Shares Bought by Allianz Asset Management GmbH

Core Viewpoint - Allianz Asset Management GmbH increased its holdings in Ciena Corporation by 1.7% in Q3, indicating continued institutional interest in the company [2] Institutional Holdings - Allianz Asset Management GmbH now owns 176,919 shares of Ciena, valued at approximately $25.77 million, representing about 0.13% of the company [2] - Strategy Asset Managers LLC raised its stake by 1.1%, owning 18,322 shares valued at $2.67 million [3] - Jones Financial Companies Lllp increased its holdings by 10.6%, now owning 2,561 shares worth $363,000 [3] - State of Wyoming and Convergence Investment Partners LLC established new positions valued at $320,000 and $1.73 million, respectively [3] - Transcend Capital Advisors LLC significantly increased its holdings by 87.2%, now owning 4,841 shares worth $705,000 [3] - Institutional investors and hedge funds collectively own 91.99% of Ciena's stock [3] Analyst Ratings and Price Targets - Weiss Ratings maintained a "hold" rating, while B. Riley Financial reiterated a "neutral" rating [4] - Citigroup raised its target price to $280.00 with a "buy" rating, and Argus increased its target from $135.00 to $280.00, also giving a "buy" rating [4] - Ciena has a consensus rating of "Moderate Buy" with an average target price of $241.67 [4] Insider Transactions - Director Patrick Gallagher sold 11,618 shares at an average price of $227.45, totaling approximately $2.64 million, reducing his position by 18.80% [5] - SVP Joseph Cumello sold 11,929 shares at an average price of $229.82, totaling about $2.74 million, decreasing his position by 19.43% [5] - In the last three months, insiders sold 164,042 shares worth $37.77 million, with insiders owning 0.93% of the stock [5] Financial Performance - Ciena reported Q4 earnings of $0.91 per share, exceeding estimates by $0.15, with revenue of $1.35 billion, surpassing expectations of $1.29 billion [7] - The company experienced a year-over-year revenue increase of 20.1% [7] - Ciena's net margin was 2.59%, and return on equity was 8.38% [7] Stock Performance - Ciena's stock opened at $271.88, with a 12-month low of $49.21 and a high of $285.97 [6] - The company has a market cap of $38.29 billion, a P/E ratio of 319.86, and a price-to-earnings-growth ratio of 1.42 [6] - Ciena's debt-to-equity ratio is 0.56, with a quick ratio of 2.09 and a current ratio of 2.73 [6]