Ciena Corporation (NYSE:CIEN) CEO Gary B. Smith sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $21.86, for a total value of $174,880.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

  • On Thursday, December 27th, Gary B. Smith sold 4,000 shares of Ciena stock. The shares were sold at an average price of $21.66, for a total value of $86,640.00.
  • On Thursday, December 28th, Gary B. Smith sold 8,000 shares of Ciena stock. The shares were sold at an average price of $21.47, for a total value of $171,760.00.
  • On Thursday, December 21st, Gary B. Smith sold 113,735 shares of Ciena stock. The shares were sold at an average price of $21.22, for a total value of $2,413,456.70.
  • On Friday, December 15th, Gary B. Smith sold 8,000 shares of Ciena stock. The shares were sold at an average price of $21.38, for a total value of $171,040.00.
  • On Tuesday, November 21st, Gary B. Smith sold 10,000 shares of Ciena stock. The shares were sold at an average price of $20.55, for a total value of $205,500.00.
  • On Thursday, November 9th, Gary B. Smith sold 6,000 shares of Ciena stock. The shares were sold at an average price of $20.09, for a total value of $120,540.00.
  • On Tuesday, October 24th, Gary B. Smith sold 8,000 shares of Ciena stock. The stock was sold at an average price of $22.12, for a total value of $176,960.00.

Ciena Corporation (NYSE:CIEN) opened at $22.04 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.68 and a current ratio of 1.93. The stock has a market capitalization of $3,285.95, a price-to-earnings ratio of 2.76, a price-to-earnings-growth ratio of 1.46 and a beta of 1.67. Ciena Corporation has a one year low of $19.40 and a one year high of $27.98.

Ciena (NYSE:CIEN) last issued its quarterly earnings results on Thursday, December 7th. The communications equipment provider reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.04). The firm had revenue of $744.40 million for the quarter, compared to the consensus estimate of $736.91 million. Ciena had a net margin of 45.04% and a return on equity of 18.32%. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.44 earnings per share. equities research analysts predict that Ciena Corporation will post 1 earnings per share for the current year.

Ciena declared that its Board of Directors has initiated a share repurchase plan on Thursday, December 7th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the communications equipment provider to purchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

A number of hedge funds and other institutional investors have recently modified their holdings of CIEN. Schwab Charles Investment Management Inc. lifted its position in shares of Ciena by 8.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 847,006 shares of the communications equipment provider’s stock valued at $21,193,000 after acquiring an additional 63,846 shares during the last quarter. First Trust Advisors LP acquired a new stake in shares of Ciena during the 2nd quarter valued at $1,219,000. Legal & General Group Plc lifted its position in shares of Ciena by 23.0% during the 2nd quarter. Legal & General Group Plc now owns 112,414 shares of the communications equipment provider’s stock valued at $2,818,000 after acquiring an additional 21,028 shares during the last quarter. Prudential Financial Inc. lifted its position in shares of Ciena by 1.4% during the 2nd quarter. Prudential Financial Inc. now owns 94,559 shares of the communications equipment provider’s stock valued at $2,366,000 after acquiring an additional 1,320 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Ciena by 11.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,085 shares of the communications equipment provider’s stock valued at $127,000 after acquiring an additional 517 shares during the last quarter.

A number of equities analysts recently issued reports on CIEN shares. Zacks Investment Research lowered Ciena from a “hold” rating to a “sell” rating in a report on Wednesday, November 15th. B. Riley decreased their price objective on Ciena from $30.50 to $28.00 and set a “buy” rating for the company in a report on Tuesday, December 5th. BidaskClub lowered Ciena from a “sell” rating to a “strong sell” rating in a report on Saturday, November 4th. Goldman Sachs Group raised Ciena from a “neutral” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Monday. Finally, William Blair reissued a “buy” rating on shares of Ciena in a report on Monday, November 13th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. Ciena currently has an average rating of “Buy” and a consensus target price of $28.48.

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About Ciena

Ciena Corporation is a network strategy and technology company, which provides solutions that enable a range of network operators to adopt communication architectures and deliver an array of services, relied upon by enterprise and consumer end users. It provides equipment, software and services that support the transport, switching, aggregation, service delivery and management of voice, video and data traffic on communications networks.

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

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