<div id="readability-page-1"><p>Summit Financial LLC purchased a new position in  Ciena Co. (NYSE:CIEN - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities &amp; Exchange Commission. The fund purchased 6,808 shares of the communications equipment provider's stock, valued at approximately $577,000.</p><ul><li>Ciena Rebounds: AI and Strong Guidance Drive Post-Earnings Surge</li></ul><p>A number of other institutional investors also recently made changes to their positions in CIEN. Versant Capital Management Inc grew its stake in  Ciena by 925.0% in the 4th quarter. Versant Capital Management Inc now owns 328 shares of the communications equipment provider's stock worth $28,000 after acquiring an additional 296 shares during the period.  Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of  Ciena by 328.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 364 shares of the communications equipment provider's stock worth $30,000 after purchasing an additional 279 shares during the last quarter.  Picton Mahoney Asset Management purchased a new stake in shares of  Ciena in the fourth quarter valued at $41,000.  Parkside Financial Bank &amp; Trust increased its stake in  Ciena by 409.8% in the fourth quarter. Parkside Financial Bank &amp; Trust now owns 520 shares of the communications equipment provider's stock valued at $44,000 after purchasing an additional 418 shares during the last quarter.  Finally, CIBC Private Wealth Group LLC lifted its position in  Ciena by 394.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 554 shares of the communications equipment provider's stock worth $46,000 after buying an additional 442 shares during the period. 91.99% of the stock is owned by institutional investors and hedge funds. </p><h2>Analyst Ratings Changes</h2><p>A number of research firms have recently commented on CIEN. B. Riley  reaffirmed a &#34;buy&#34; rating and set a $89.00 price objective (down previously from $97.00) on shares of Ciena in a research note on Wednesday, March 12th. Stifel Nicolaus  reaffirmed a &#34;buy&#34; rating and issued a $82.00 target price (up from $75.00) on shares of Ciena in a research report on Tuesday, December 10th. Northland Securities upgraded Ciena from a &#34;market perform&#34; rating to an &#34;outperform&#34; rating and lifted their target price for the company from $60.00 to $75.00 in a report on Wednesday, March 12th. Barclays  set a $100.00 price objective on Ciena and gave the stock an &#34;overweight&#34; rating in a report on Wednesday, March 12th. Finally, Northland Capmk upgraded Ciena from a &#34;hold&#34; rating to a &#34;strong-buy&#34; rating in a report on Wednesday, March 12th. Four equities research analysts have rated the stock with a hold rating, nine have issued  a buy rating and one  has issued  a strong buy rating to the company's stock. Based on data from MarketBeat.com, Ciena currently has an average rating of &#34;Moderate Buy&#34; and a consensus price target of $81.38.</p><ul><li>Cisco on the Rise: AI Potential and Analyst Upgrades Drive Gains</li></ul><p><b>View Our Latest Analysis on Ciena</b></p><h2>Ciena Price Performance</h2><p>CIEN opened at $65.03 on Thursday. Ciena Co. has a twelve month low of $43.30 and a twelve month 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. The firm has a market cap of $9.24 billion, a price-to-earnings ratio of 114.09, a PEG ratio of 1.54 and a beta of 0.91. The company has a fifty day simple moving average of $77.11 and a 200 day simple moving average of $74.23. </p><h2>Insider Activity</h2><ul><li>2 Stocks Riding the Recovery in Cloud Computing Driven by AI</li></ul><p>In other news, SVP Brodie Gage sold 350 shares of the firm's stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $85.91, for a total transaction of $30,068.50. Following the completion of the sale, the senior vice president now owns 49,547 shares of the company's stock, valued at approximately $4,256,582.77. This trade represents a 0.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities &amp; Exchange Commission, which can be accessed through this hyperlink. Also, Director Bruce L. Claflin sold 16,912 shares of the company's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $84.96, for a total transaction of $1,436,843.52. Following the completion of the sale, the director now directly owns 59,347 shares in the company, valued at $5,042,121.12. This represents a 22.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,200 shares of company stock worth $4,921,513 over the last ninety days. Corporate insiders own  0.93% of the company's stock. </p><h2>About Ciena</h2> (Free Report)<p>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.</p><h2>See Also</h2><ul><li>Five stocks we like better than Ciena</li><li>What is a Secondary Public Offering? What Investors Need to Know</li><li>Homebuilders in Freefall: Bargain Opportunity or Falling Knife?</li><li>What Investors Need to Know to Beat the Market</li><li>The 3 Most Talked About Investments on WallStreetBets Right Now</li><li>What is the Hang Seng index?  </li><li>Analyst Targets Signal More Growth in CrowdStrike Stock</li></ul><p><img src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/SECFilingChart.ashx/query-UHJlZml4PU5ZU0UmU3ltYm9sPUNJRU4?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="650" height="350" original-src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/SECFilingChart.ashx/query-UHJlZml4PU5ZU0UmU3ltYm9sPUNJRU4"/></p><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.</em></p><h2>Should You Invest $1,000 in Ciena Right Now?</h2><p>Before you consider Ciena, you'll want to hear this.</p><p>MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ciena wasn't on the list.</p><p>While Ciena currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.</p><p>View The Five Stocks Here</p>                  </div>

CIEN

<p>Summit Financial LLC acquired 6,808 shares of Ciena Co. (NYSE:CIEN) valued at approximately $577,000 in Q4, as per its Form 13F filing. Other institutional investors also increased their stakes significantly. Analysts have given Ciena a "Moderate Buy" rating with a consensus price target of $81.38. Ciena's stock opened at $65.03, with a 12-month range of $43.30 to $101.44. Recent insider sales were reported, indicating changes in ownership among executives.</p>

Summit Financial LLC Buys Shares of 6,808 Ciena Co. (NYSE:CIEN)