Ciena Co. (NYSE:CIEN) CEO Sells $401,088.00 in Stock

Ciena Co. (NYSE:CIEN) CEO Gary B. Smith sold 9,600 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $41.78, for a total transaction of $401,088.00. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

  • On Wednesday, July 24th, Gary B. Smith sold 9,600 shares of Ciena stock. The stock was sold at an average price of $43.86, for a total transaction of $421,056.00.
  • On Thursday, July 11th, Gary B. Smith sold 4,800 shares of Ciena stock. The stock was sold at an average price of $43.82, for a total transaction of $210,336.00.
  • On Wednesday, June 26th, Gary B. Smith sold 9,600 shares of Ciena stock. The stock was sold at an average price of $42.30, for a total transaction of $406,080.00.
  • On Tuesday, June 11th, Gary B. Smith sold 9,600 shares of Ciena stock. The stock was sold at an average price of $44.38, for a total transaction of $426,048.00.
  • On Friday, May 24th, Gary B. Smith sold 9,600 shares of Ciena stock. The stock was sold at an average price of $35.16, for a total transaction of $337,536.00.
  • On Tuesday, May 14th, Gary B. Smith sold 9,600 shares of Ciena stock. The shares were sold at an average price of $33.41, for a total transaction of $320,736.00.

NYSE:CIEN traded down $0.15 during trading hours on Wednesday, hitting $42.52. The stock had a trading volume of 1,445,228 shares, compared to its average volume of 2,733,805. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.36 and a current ratio of 2.83. Ciena Co. has a 1-year low of $25.54 and a 1-year high of $46.78. The firm has a 50 day simple moving average of $43.52. The company has a market capitalization of $6.50 billion, a P/E ratio of 37.96, a PEG ratio of 1.42 and a beta of 1.11.

Ciena (NYSE:CIEN) last issued its quarterly earnings data on Thursday, June 6th. The communications equipment provider reported $0.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.07. Ciena had a net margin of 5.98% and a return on equity of 12.37%. The company had revenue of $865.00 million during the quarter, compared to the consensus estimate of $818.23 million. During the same quarter last year, the company earned $0.23 earnings per share. Ciena’s revenue for the quarter was up 18.5% on a year-over-year basis. As a group, equities research analysts expect that Ciena Co. will post 1.74 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of CIEN. Municipal Employees Retirement System of Michigan grew its position in shares of Ciena by 1.1% during the second quarter. Municipal Employees Retirement System of Michigan now owns 26,590 shares of the communications equipment provider’s stock worth $1,094,000 after buying an additional 280 shares in the last quarter. Creative Planning grew its position in shares of Ciena by 3.8% during the second quarter. Creative Planning now owns 8,152 shares of the communications equipment provider’s stock worth $335,000 after buying an additional 302 shares in the last quarter. Flagship Harbor Advisors LLC grew its position in shares of Ciena by 98.5% during the second quarter. Flagship Harbor Advisors LLC now owns 645 shares of the communications equipment provider’s stock worth $26,000 after buying an additional 320 shares in the last quarter. Oakbrook Investments LLC grew its position in shares of Ciena by 4.1% during the first quarter. Oakbrook Investments LLC now owns 10,100 shares of the communications equipment provider’s stock worth $377,000 after buying an additional 400 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its position in shares of Ciena by 29.6% during the first quarter. Parkside Financial Bank & Trust now owns 1,789 shares of the communications equipment provider’s stock worth $67,000 after buying an additional 409 shares in the last quarter. 93.92% of the stock is owned by institutional investors.

Several research analysts recently commented on CIEN shares. Jefferies Financial Group raised their price target on shares of Ciena from $50.00 to $55.00 and gave the company a “buy” rating in a report on Friday, June 7th. Rosenblatt Securities restated a “hold” rating and issued a $38.00 price target on shares of Ciena in a report on Monday, June 3rd. Citigroup raised their price target on shares of Ciena from $50.00 to $55.00 and gave the company a “buy” rating in a report on Friday, June 7th. TheStreet upgraded shares of Ciena from a “c+” rating to a “b” rating in a report on Tuesday, June 25th. Finally, Northland Securities restated a “buy” rating and issued a $42.00 price target on shares of Ciena in a report on Wednesday, June 5th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $46.65.

About Ciena

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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