Ciena Co. (CIEN) CEO Sells $330,821.40 in Stock

Ciena Co. (NYSE:CIEN) CEO Gary B. Smith sold 12,948 shares of the stock in a transaction on Thursday, June 21st. The stock was sold at an average price of $25.55, for a total transaction of $330,821.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Gary B. Smith also recently made the following trade(s):

  • On Tuesday, June 12th, Gary B. Smith sold 8,000 shares of Ciena stock. The stock was sold at an average price of $24.59, for a total transaction of $196,720.00.
  • On Thursday, May 24th, Gary B. Smith sold 8,000 shares of Ciena stock. The stock was sold at an average price of $24.61, for a total transaction of $196,880.00.
  • On Wednesday, May 9th, Gary B. Smith sold 8,000 shares of Ciena stock. The stock was sold at an average price of $26.76, for a total transaction of $214,080.00.
  • On Friday, April 27th, Gary B. Smith sold 8,000 shares of Ciena stock. The stock was sold at an average price of $25.82, for a total transaction of $206,560.00.
  • On Wednesday, April 11th, Gary B. Smith sold 8,000 shares of Ciena stock. The stock was sold at an average price of $25.73, for a total transaction of $205,840.00.
  • On Wednesday, March 28th, Gary B. Smith sold 8,000 shares of Ciena stock. The stock was sold at an average price of $25.79, for a total transaction of $206,320.00.

Ciena opened at $24.87 on Monday, Marketbeat Ratings reports. The stock has a market capitalization of $3.55 billion, a PE ratio of 16.69, a PEG ratio of 1.62 and a beta of 1.34. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.01 and a quick ratio of 1.77. Ciena Co. has a 12-month low of $19.40 and a 12-month high of $27.73.

Ciena (NYSE:CIEN) last released its earnings results on Thursday, May 31st. The communications equipment provider reported $0.23 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.07). The firm had revenue of $730.00 million during the quarter, compared to the consensus estimate of $726.38 million. Ciena had a return on equity of 9.92% and a net margin of 26.69%. Ciena’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.45 EPS. research analysts forecast that Ciena Co. will post 0.99 EPS for the current year.

Several research firms recently weighed in on CIEN. B. Riley raised their target price on shares of Ciena from $31.00 to $31.50 and gave the company a “buy” rating in a research note on Friday, June 1st. BMO Capital Markets cut their target price on shares of Ciena from $32.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, June 1st. Zacks Investment Research raised shares of Ciena from a “sell” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Tuesday, March 13th. Northland Securities reaffirmed a “buy” rating and set a $34.00 target price on shares of Ciena in a research note on Monday, March 19th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $29.00 target price (up from $24.00) on shares of Ciena in a research note on Wednesday, March 7th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $29.43.

Institutional investors have recently added to or reduced their stakes in the company. Managed Asset Portfolios LLC lifted its holdings in shares of Ciena by 7.5% in the 1st quarter. Managed Asset Portfolios LLC now owns 404,960 shares of the communications equipment provider’s stock worth $10,489,000 after acquiring an additional 28,137 shares during the last quarter. AlphaOne Investment Services LLC lifted its holdings in shares of Ciena by 11,253.2% in the 4th quarter. AlphaOne Investment Services LLC now owns 68,119 shares of the communications equipment provider’s stock worth $1,426,000 after acquiring an additional 67,519 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Ciena by 2.7% in the 4th quarter. Swiss National Bank now owns 241,600 shares of the communications equipment provider’s stock worth $5,057,000 after acquiring an additional 6,300 shares during the last quarter. Maverick Capital Ltd. bought a new stake in shares of Ciena in the 4th quarter worth about $50,962,000. Finally, TCW Group Inc. lifted its holdings in shares of Ciena by 19.1% in the 1st quarter. TCW Group Inc. now owns 760,954 shares of the communications equipment provider’s stock worth $19,709,000 after acquiring an additional 121,888 shares during the last quarter.

Ciena Company Profile

Ciena Corporation provides hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of voice, video, and data traffic on communications networks worldwide. The company's Networking Platforms segment offers hardware networking solutions optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching.

Insider Buying and Selling by Quarter for Ciena (NYSE:CIEN)

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