Ciena Co. (NYSE:CIEN) CEO Gary B. Smith sold 8,000 shares of Ciena stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $22.46, for a total value of $179,680.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

  • On Wednesday, January 24th, Gary B. Smith sold 8,000 shares of Ciena stock. The shares were sold at an average price of $21.85, for a total value of $174,800.00.
  • On Friday, January 12th, Gary B. Smith sold 8,000 shares of Ciena stock. The shares were sold at an average price of $21.86, for a total value of $174,880.00.
  • On Wednesday, 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.

Shares of Ciena Co. (NYSE CIEN) opened at $22.67 on Wednesday. The company has a market capitalization of $3,260.00, a P/E ratio of 3.28, a P/E/G ratio of 1.42 and a beta of 1.67. Ciena Co. has a 52-week low of $19.40 and a 52-week high of $27.98. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.93 and a quick ratio of 1.68.

Ciena (NYSE:CIEN) last issued its earnings results on Thursday, December 7th. The communications equipment provider reported $0.46 EPS for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.04). The firm had revenue of $744.40 million during the quarter, compared to analysts’ expectations of $736.91 million. Ciena had a net margin of 45.04% and a return on equity of 18.32%. Ciena’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 EPS. equities analysts expect that Ciena Co. will post 1 EPS for the current year.

Ciena announced that its Board of Directors has approved a share buyback plan on Thursday, December 7th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the communications equipment provider to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

A number of brokerages have recently weighed in on CIEN. BMO Capital Markets restated a “buy” rating on shares of Ciena in a research note on Friday, October 27th. Stifel Nicolaus restated a “buy” rating on shares of Ciena in a research note on Friday, November 3rd. Raymond James Financial set a $33.00 price target on Ciena and gave the stock a “buy” rating in a research note on Thursday, December 7th. Cowen restated a “buy” rating and set a $33.00 price target on shares of Ciena in a research note on Wednesday, December 6th. Finally, B. Riley dropped their price target on Ciena from $30.50 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, December 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $28.48.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp boosted its position in Ciena by 3.9% in the second quarter. State Street Corp now owns 4,648,540 shares of the communications equipment provider’s stock valued at $116,319,000 after buying an additional 172,876 shares during the last quarter. Neuberger Berman Group LLC boosted its position in Ciena by 169.5% in the third quarter. Neuberger Berman Group LLC now owns 4,217,455 shares of the communications equipment provider’s stock valued at $92,657,000 after buying an additional 2,652,791 shares during the last quarter. Schroder Investment Management Group boosted its position in Ciena by 7.2% in the third quarter. Schroder Investment Management Group now owns 2,982,417 shares of the communications equipment provider’s stock valued at $65,822,000 after buying an additional 200,907 shares during the last quarter. Westfield Capital Management Co. LP boosted its position in Ciena by 21.5% in the third quarter. Westfield Capital Management Co. LP now owns 2,594,285 shares of the communications equipment provider’s stock valued at $56,996,000 after buying an additional 459,190 shares during the last quarter. Finally, Maverick Capital Ltd. purchased a new stake in Ciena in the fourth quarter valued at approximately $50,962,000.

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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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