Ciena Corporation (NYSE:CIEN) SVP Scott Mcfeely sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $22.74, for a total transaction of $22,740.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Scott Mcfeely also recently made the following trade(s):

  • On Wednesday, November 15th, Scott Mcfeely sold 1,000 shares of Ciena stock. The shares were sold at an average price of $19.50, for a total transaction of $19,500.00.

Shares of Ciena Corporation (NYSE CIEN) traded down $0.19 during trading on Friday, hitting $21.85. 3,169,077 shares of the stock traded hands, compared to its average volume of 3,400,000. The firm has a market capitalization of $3,140.00, a P/E ratio of 3.16, a price-to-earnings-growth ratio of 1.39 and a beta of 1.67. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.68 and a current ratio of 1.93. Ciena Corporation has a twelve month low of $19.40 and a twelve month high of $27.98.

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

Ciena announced that its Board of Directors has initiated a stock repurchase program on Thursday, December 7th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the communications equipment provider to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Several equities analysts recently weighed in on the stock. MKM Partners reaffirmed a “buy” rating and set a $30.00 price objective on shares of Ciena in a research report on Tuesday, September 26th. Needham & Company LLC reiterated a “buy” rating and set a $28.00 price target (down previously from $31.00) on shares of Ciena in a report on Monday, September 25th. Stifel Nicolaus reiterated a “buy” rating and set a $30.00 price target on shares of Ciena in a report on Tuesday, September 26th. Goldman Sachs Group upgraded Ciena from a “neutral” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Monday, January 15th. Finally, Zacks Investment Research downgraded Ciena from a “hold” rating to a “sell” rating in a report on Wednesday, November 15th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twenty have given a buy rating to the stock. Ciena has a consensus rating of “Buy” and a consensus target price of $28.48.

Several institutional investors have recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Ciena by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,690 shares of the communications equipment provider’s stock worth $518,000 after acquiring an additional 58 shares during the last quarter. ETRADE Capital Management LLC grew its stake in shares of Ciena by 1.0% in the second quarter. ETRADE Capital Management LLC now owns 38,106 shares of the communications equipment provider’s stock worth $953,000 after acquiring an additional 367 shares during the last quarter. Dana Investment Advisors Inc. grew its stake in shares of Ciena by 0.5% in the second quarter. Dana Investment Advisors Inc. now owns 95,942 shares of the communications equipment provider’s stock worth $2,400,000 after acquiring an additional 513 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Ciena by 11.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,085 shares of the communications equipment provider’s stock worth $127,000 after acquiring an additional 517 shares during the last quarter. Finally, Advisor Group Inc. grew its stake in shares of Ciena by 6.4% in the second quarter. Advisor Group Inc. now owns 10,011 shares of the communications equipment provider’s stock worth $151,000 after acquiring an additional 604 shares during the last quarter.

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Ciena Company Profile

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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