Gary B. Smith Sells 4,250 Shares of Ciena Co. (NYSE:CIEN) Stock

Ciena Co. (NYSE:CIEN) CEO Gary B. Smith sold 4,250 shares of Ciena stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $41.71, for a total transaction of $177,267.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

  • On Wednesday, August 19th, Gary B. Smith sold 4,250 shares of Ciena stock. The shares were sold at an average price of $59.96, for a total transaction of $254,830.00.
  • On Tuesday, August 4th, Gary B. Smith sold 4,250 shares of Ciena stock. The shares were sold at an average price of $59.96, for a total transaction of $254,830.00.
  • On Wednesday, July 22nd, Gary B. Smith sold 4,250 shares of Ciena stock. The shares were sold at an average price of $54.41, for a total transaction of $231,242.50.
  • On Tuesday, July 7th, Gary B. Smith sold 8,500 shares of Ciena stock. The shares were sold at an average price of $56.50, for a total transaction of $480,250.00.

Shares of NYSE CIEN opened at $41.62 on Wednesday. Ciena Co. has a 12-month low of $30.58 and a 12-month high of $61.51. The company has a market capitalization of $6.57 billion, a PE ratio of 17.27, a price-to-earnings-growth ratio of 1.01 and a beta of 0.78. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.56 and a quick ratio of 3.06. The firm’s 50-day moving average is $55.26 and its two-hundred day moving average is $49.83.

Ciena (NYSE:CIEN) last announced its quarterly earnings results on Thursday, September 3rd. The communications equipment provider reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.23. The company had revenue of $976.70 million for the quarter, compared to the consensus estimate of $974.49 million. Ciena had a net margin of 10.26% and a return on equity of 17.93%. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.71 earnings per share. On average, analysts forecast that Ciena Co. will post 2.64 EPS for the current fiscal year.

Several large investors have recently bought and sold shares of CIEN. FMR LLC raised its position in shares of Ciena by 294.6% in the second quarter. FMR LLC now owns 6,182,550 shares of the communications equipment provider’s stock valued at $334,847,000 after buying an additional 4,615,896 shares during the last quarter. Deutsche Bank AG grew its stake in Ciena by 361.3% during the first quarter. Deutsche Bank AG now owns 1,621,278 shares of the communications equipment provider’s stock worth $64,543,000 after buying an additional 1,269,824 shares during the period. Congress Asset Management Co. MA grew its stake in Ciena by 45.0% during the second quarter. Congress Asset Management Co. MA now owns 3,423,768 shares of the communications equipment provider’s stock worth $185,431,000 after buying an additional 1,061,808 shares during the period. Alliancebernstein L.P. grew its stake in Ciena by 32.3% during the first quarter. Alliancebernstein L.P. now owns 4,255,893 shares of the communications equipment provider’s stock worth $169,427,000 after buying an additional 1,038,125 shares during the period. Finally, Nuveen Asset Management LLC grew its stake in Ciena by 60.2% during the first quarter. Nuveen Asset Management LLC now owns 1,842,311 shares of the communications equipment provider’s stock worth $73,342,000 after buying an additional 692,647 shares during the period. 88.38% of the stock is owned by institutional investors and hedge funds.

Several analysts have recently weighed in on the stock. Stifel Nicolaus lowered their target price on shares of Ciena from $61.00 to $54.00 and set a “buy” rating on the stock in a report on Friday, September 4th. Raymond James lifted their target price on shares of Ciena from $51.00 to $61.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Citigroup lowered their target price on shares of Ciena from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Friday, September 4th. Wolfe Research assumed coverage on shares of Ciena in a report on Friday, July 24th. They issued an “outperform” rating on the stock. Finally, Nomura Instinet lifted their target price on shares of Ciena from $46.00 to $63.00 and gave the company a “buy” rating in a report on Friday, June 5th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and eighteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $54.33.

Ciena Company Profile

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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