Ciena Co. (NYSE:CIEN) CEO Sells $66,027.50 in Stock

Ciena Co. (NYSE:CIEN) CEO Gary B. Smith sold 1,750 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $37.73, for a total value of $66,027.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

  • On Monday, October 28th, Gary B. Smith sold 1,750 shares of Ciena stock. The shares were sold at an average price of $37.12, for a total value of $64,960.00.
  • On Tuesday, August 6th, Gary B. Smith sold 9,600 shares of Ciena stock. The shares were sold at an average price of $41.78, for a total value of $401,088.00.
  • On Wednesday, July 24th, Gary B. Smith sold 9,600 shares of Ciena stock. The shares were sold at an average price of $43.86, for a total value of $421,056.00.

NYSE CIEN traded up $0.30 during midday trading on Friday, hitting $37.45. The company had a trading volume of 1,666,054 shares, compared to its average volume of 2,702,497. Ciena Co. has a twelve month low of $30.33 and a twelve month high of $46.78. The firm has a 50-day moving average price of $37.80 and a 200-day moving average price of $39.91. The company has a current ratio of 2.90, a quick ratio of 2.45 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $5.76 billion, a PE ratio of 33.44, a P/E/G ratio of 0.94 and a beta of 1.06.

Ciena (NYSE:CIEN) last issued its quarterly earnings results on Thursday, September 5th. The communications equipment provider reported $0.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.21. Ciena had a return on equity of 13.64% and a net margin of 6.77%. The company had revenue of $960.60 million for the quarter, compared to analyst estimates of $930.64 million. During the same quarter last year, the company posted $0.48 EPS. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. On average, equities analysts anticipate that Ciena Co. will post 1.88 EPS for the current year.

Hedge funds have recently modified their holdings of the stock. Municipal Employees Retirement System of Michigan grew its position in shares of Ciena by 1.1% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 26,590 shares of the communications equipment provider’s stock valued at $1,094,000 after buying an additional 280 shares during the last quarter. Creative Planning grew its position in shares of Ciena by 3.8% in the 2nd quarter. Creative Planning now owns 8,152 shares of the communications equipment provider’s stock valued at $335,000 after buying an additional 302 shares during the last quarter. Flagship Harbor Advisors LLC grew its position in shares of Ciena by 98.5% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 645 shares of the communications equipment provider’s stock valued at $26,000 after buying an additional 320 shares during the last quarter. World Asset Management Inc grew its position in shares of Ciena by 5.5% in the 3rd quarter. World Asset Management Inc now owns 7,282 shares of the communications equipment provider’s stock valued at $286,000 after buying an additional 381 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Ciena by 4.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,304 shares of the communications equipment provider’s stock valued at $506,000 after buying an additional 512 shares during the last quarter. Institutional investors and hedge funds own 88.63% of the company’s stock.

A number of analysts have recently issued reports on CIEN shares. Stifel Nicolaus set a $54.00 price objective on Ciena and gave the company a “buy” rating in a research report on Friday, September 6th. Rosenblatt Securities raised Ciena from a “neutral” rating to a “buy” rating and raised their price objective for the company from $45.00 to $47.00 in a research report on Thursday, August 29th. Evercore ISI initiated coverage on Ciena in a research report on Wednesday, September 11th. They issued an “outperform” rating and a $48.00 price objective for the company. UBS Group dropped their price target on Ciena from $46.00 to $43.00 and set a “neutral” rating for the company in a report on Friday, September 6th. Finally, Morgan Stanley lifted their price target on Ciena from $41.00 to $43.00 and gave the stock an “equal weight” rating in a report on Friday, September 6th. Nine research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Ciena has a consensus rating of “Buy” and a consensus price target of $48.35.

About Ciena

Ciena Corporation provides network hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of video, data, and voice 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.

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

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