Itau Unibanco acquired 12,000 Ciena shares in Q2, increasing institutional ownership to 91.99%.
Itau Unibanco acquired 12,000 shares of Ciena Co. for about $578,000 in Q2, joining other institutional investors who significantly increased their stakes, leading to 91.99% institutional ownership. Ciena reported Q2 earnings of $0.35 per share, surpassing estimates. Citi upgraded Ciena from "sell" to "buy," raising the price target to $68, citing improved growth prospects and stronger bookings from telecom providers, despite potential market risks.
September 23, 2024
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