Ciena Co. (CIEN) CEO Gary B. Smith Sells 8,000 Shares

Ciena Co. (NYSE:CIEN) CEO Gary B. Smith sold 8,000 shares of Ciena stock in a transaction that occurred on Tuesday, June 12th. The stock was sold at an average price of $24.59, for a total value of $196,720.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

  • 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 value 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 value 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 value 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 value 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 value of $206,320.00.
  • On Wednesday, March 21st, Gary B. Smith sold 12,948 shares of Ciena stock. The stock was sold at an average price of $26.58, for a total value of $344,157.84.
  • On Thursday, March 15th, Gary B. Smith sold 8,000 shares of Ciena stock. The stock was sold at an average price of $27.16, for a total value of $217,280.00.

Shares of Ciena traded up $0.13, hitting $24.95, during mid-day trading on Thursday, according to MarketBeat. 1,783,989 shares of the stock traded hands, compared to its average volume of 3,313,481. The company has a quick ratio of 1.77, a current ratio of 2.01 and a debt-to-equity ratio of 0.34. Ciena Co. has a 52 week low of $19.40 and a 52 week high of $27.73. The firm has a market capitalization of $3.50 billion, a PE ratio of 16.74, a P/E/G ratio of 1.60 and a beta of 1.34.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its position in shares of Ciena by 30.4% during the first quarter. Dimensional Fund Advisors LP now owns 4,405,223 shares of the communications equipment provider’s stock valued at $114,095,000 after purchasing an additional 1,026,844 shares in the last quarter. FIL Ltd boosted its holdings in Ciena by 12.7% in the first quarter. FIL Ltd now owns 4,022,136 shares of the communications equipment provider’s stock worth $104,174,000 after acquiring an additional 453,397 shares in the last quarter. Millennium Management LLC boosted its holdings in Ciena by 431.6% in the fourth quarter. Millennium Management LLC now owns 2,477,957 shares of the communications equipment provider’s stock worth $51,864,000 after acquiring an additional 2,011,805 shares in the last quarter. Maverick Capital Ltd. bought a new stake in Ciena in the fourth quarter worth $50,962,000. Finally, Northern Trust Corp boosted its holdings in Ciena by 1.1% in the first quarter. Northern Trust Corp now owns 2,205,450 shares of the communications equipment provider’s stock worth $57,122,000 after acquiring an additional 24,421 shares in the last quarter.

A number of equities analysts have commented on the company. Zacks Investment Research cut Ciena from a “buy” rating to a “hold” rating in a research note on Wednesday, June 6th. BMO Capital Markets decreased their price target on Ciena from $32.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, June 1st. B. Riley lifted their price target on Ciena from $31.00 to $31.50 and gave the stock a “buy” rating in a research note on Friday, June 1st. JPMorgan Chase & Co. decreased their price target on Ciena from $36.00 to $33.00 and set an “overweight” rating on the stock in a research note on Friday, June 1st. Finally, Citigroup decreased their price target on Ciena from $32.00 to $29.00 and set a “buy” rating on the stock in a research note on Friday, June 1st. One 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. The stock currently has an average rating of “Buy” and an average target price of $29.43.

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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