Ciena Co. (CIEN) VP James Frodsham Sells 2,000 Shares

Ciena Co. (NYSE:CIEN) VP James Frodsham sold 2,000 shares of the firm’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $37.40, for a total value of $74,800.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

James Frodsham also recently made the following trade(s):

  • On Wednesday, March 13th, James Frodsham sold 41,000 shares of Ciena stock. The stock was sold at an average price of $39.69, for a total value of $1,627,290.00.

Shares of CIEN stock opened at $38.40 on Tuesday. The company has a market capitalization of $5.92 billion, a PE ratio of 29.22, a price-to-earnings-growth ratio of 1.48 and a beta of 1.04. Ciena Co. has a fifty-two week low of $22.99 and a fifty-two week high of $45.70. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.52 and a current ratio of 2.98.

Ciena (NYSE:CIEN) last issued its quarterly earnings data on Tuesday, March 5th. The communications equipment provider reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.06. The firm had revenue of $778.53 million for the quarter, compared to analyst estimates of $761.62 million. Ciena had a return on equity of 10.73% and a net margin of 5.03%. The business’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same period last year, the company earned $0.15 EPS. Research analysts forecast that Ciena Co. will post 1.54 earnings per share for the current year.

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. grew its position in shares of Ciena by 9.6% in the 4th quarter. BlackRock Inc. now owns 17,899,503 shares of the communications equipment provider’s stock worth $606,974,000 after buying an additional 1,561,445 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Ciena by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 12,969,428 shares of the communications equipment provider’s stock worth $405,165,000 after buying an additional 240,201 shares during the last quarter. Vanguard Group Inc boosted its position in shares of Ciena by 1.9% during the third quarter. Vanguard Group Inc now owns 12,969,428 shares of the communications equipment provider’s stock valued at $405,165,000 after purchasing an additional 240,201 shares in the last quarter. Northern Trust Corp boosted its position in shares of Ciena by 14.3% during the fourth quarter. Northern Trust Corp now owns 3,082,792 shares of the communications equipment provider’s stock valued at $104,538,000 after purchasing an additional 384,973 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its position in shares of Ciena by 3,337.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,908,421 shares of the communications equipment provider’s stock valued at $56,000 after purchasing an additional 1,852,903 shares in the last quarter. Hedge funds and other institutional investors own 93.33% of the company’s stock.

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, December 19th. Northland Securities set a $32.00 price target on Ciena and gave the stock a “buy” rating in a research note on Thursday, December 20th. JPMorgan Chase & Co. set a $45.00 price target on Ciena and gave the stock a “buy” rating in a research note on Friday, March 22nd. Dougherty & Co lifted their price target on Ciena from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Finally, Bank of America cut Ciena from a “buy” rating to a “neutral” rating and set a $42.00 price target on the stock. in a research note on Wednesday, January 30th. They noted that the move was a valuation call. Nine analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $42.30.

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About Ciena

Ciena Corp. engages in the provision of network and communication infrastructure. It operates through the following segments: Converged Packet Optical; Packet Networking; Optical Transport; and Software and Services. The Converged Packet Optical segment develops and sells optical processors, switching systems, and operating system software.

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