Vanguard Discloses 9.8% Stake in Ciena Corp as of Dec 29, 2023
Ticker: CIEN · Form: SC 13G/A · Filed: Feb 13, 2024 · CIK: 936395
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, passive-investment, amendment, fund-holdings
TL;DR
**Vanguard still holds a big 9.8% stake in Ciena, signaling passive confidence.**
AI Summary
The Vanguard Group, a major investment firm, filed an amended SC 13G/A on February 13, 2024, disclosing its ownership in Ciena Corp. As of December 29, 2023, Vanguard beneficially owned 14,869,791 shares of Ciena's Common Stock, representing 9.8% of the company. This is an update to their previous filing, indicating a slight adjustment in their passive investment position. This matters to investors as Vanguard is a significant institutional holder, and their continued large stake suggests a long-term, passive confidence in Ciena's performance.
Why It Matters
This filing shows that a major institutional investor, The Vanguard Group, maintains a substantial, passive stake in Ciena, which can be seen as a vote of confidence in the company's long-term prospects. For current or prospective shareholders, it indicates that a large, influential fund manager believes Ciena is a worthwhile investment.
Risk Assessment
Risk Level: low — This filing is a routine update from a passive institutional investor and does not indicate any immediate risk or significant change in company control.
Analyst Insight
A smart investor would view this as a confirmation of Ciena's inclusion in broad market index funds managed by Vanguard, rather than a signal for immediate buying or selling. It reinforces Ciena's status as a widely held stock by institutional investors.
Key Numbers
- 14,869,791 — Shares Beneficially Owned (The total number of Ciena Corp Common Stock shares Vanguard holds, indicating their significant investment.)
- 9.8% — Ownership Percentage (The percentage of Ciena's outstanding shares owned by Vanguard, showing their substantial, but passive, stake.)
- December 29, 2023 — Reporting Date (The specific date as of which Vanguard's ownership was calculated for this filing.)
Key Players & Entities
- The Vanguard Group (company) — the reporting person and a major investment firm
- Ciena Corp (company) — the subject company whose securities are being reported
- 14,869,791 (dollar_amount) — total number of shares beneficially owned by Vanguard
- 9.8% (dollar_amount) — percentage of Ciena's class of securities owned by Vanguard
- December 29, 2023 (date) — the date of the event requiring the filing
- February 13, 2024 (date) — the date the SC 13G/A filing was made
Forward-Looking Statements
- Vanguard will likely maintain a significant, passive stake in Ciena Corp for the foreseeable future. (The Vanguard Group) — high confidence, target: 2025-02-13
- Ciena Corp's stock price will not be significantly impacted by this routine passive ownership update. (Ciena Corp) — high confidence, target: 2024-03-13
FAQ
What is the purpose of this SC 13G/A filing?
This SC 13G/A filing is an amendment (Amendment No. 12) by The Vanguard Group to update its beneficial ownership of Ciena Corp's Common Stock, as required by Rule 13d-1(b) of the Securities Exchange Act of 1934.
Who is the reporting person in this filing and what is their IRS Identification Number?
The reporting person is The Vanguard Group, and its IRS Identification Number is 23-1945930, as stated on the cover page of the filing.
What percentage of Ciena Corp's Common Stock does The Vanguard Group beneficially own as of the reporting date?
As of December 29, 2023, The Vanguard Group beneficially owns 9.8% of Ciena Corp's Common Stock, as indicated in the filing.
How many shares of Ciena Corp's Common Stock does The Vanguard Group have sole dispositive power over?
The Vanguard Group has sole dispositive power over 14,816,955 shares of Ciena Corp's Common Stock, according to item 7 on the cover page.
What is the CUSIP Number for Ciena Corp's Common Stock?
The CUSIP Number for Ciena Corp's Common Stock is 171779309, as listed on the cover page of the Schedule 13G/A.
Filing Stats: 806 words · 3 min read · ~3 pages · Grade level 11.3 · Accepted 2024-02-13 17:02:29
Filing Documents
- tv0604-cienacorp.htm (SC 13G/A) — 11KB
- 0001104659-24-020604.txt ( ) — 13KB
(a) - Name of Issuer
Item 1(a) - Name of Issuer: Ciena Corp
(b) - Address of Issuer's Principal Executive Offices
Item 1(b) - Address of Issuer's Principal Executive Offices: 7035 Ridge Road Hanover, MD 21076
(a) - Name of Person Filing
Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930
(b) – Address of Principal Business Office or, if none, residence
Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355
(c) – Citizenship
Item 2(c) – Citizenship: Pennsylvania
(d) - Title of Class of Securities
Item 2(d) - Title of Class of Securities: Common Stock
(e) - CUSIP Number
Item 2(e) - CUSIP Number 171779309
- Type of Filing
Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).
- Ownership
Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.
- Ownership of Five Percent or Less of a Class
Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following
- Ownership of More Than Five Percent on Behalf of Another Person
Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable
- Identification and Classification of Members of Group
Item 8 - Identification and Classification of Members of Group: Not applicable
- Notice of Dissolution of Group
Item 9 - Notice of Dissolution of Group: Not applicable
- Certification
Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration