Ciena Corp. CFO James E. Moylan, Jr. Sells 1,000 Shares (CIEN)
Ciena Corp. (NASDAQ:CIEN) CFO James E. Moylan, Jr. sold 1,000 shares of the stock on the open market in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $22.75, for a total transaction of $22,750.00. Following the completion of the transaction, the chief financial officer now directly owns 385,159 shares of the company’s stock, valued at approximately $8,762,367. The transaction was disclosed in a filing with the SEC, which is available at this link.
A number of analysts have recently weighed in on CIEN shares. Analysts at Zacks downgraded shares of Ciena Corp. from an “outperform” rating to a “neutral” rating in a research note on Friday, January 17th. They now have a $24.00 price target on the stock. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Ciena Corp. in a research note on Friday, December 13th. They now have a $26.00 price target on the stock, down previously from $27.00. Finally, analysts at UBS AG cut their price target on shares of Ciena Corp. to $23.00 in a research note on Friday, December 13th. They now have a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $25.94.
Ciena Corp. (NASDAQ:CIEN) traded up 1.31% during mid-day trading on Thursday, hitting $23.25. 1,050,285 shares of the company’s stock traded hands. Ciena Corp. has a 52 week low of $14.14 and a 52 week high of $27.94. The stock has a 50-day moving average of $22.91 and a 200-day moving average of $23.34. The company’s market cap is $2.411 billion.
Ciena Corp. (NASDAQ:CIEN) last announced its earnings results on Thursday, December 12th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by $0.08. The company had revenue of $583.40 million for the quarter, compared to the consensus estimate of $568.51 million. During the same quarter in the previous year, the company posted ($0.07) earnings per share. The company’s revenue for the quarter was up 25.3% on a year-over-year basis. On average, analysts predict that Ciena Corp. will post $0.90 earnings per share for the current fiscal year.
Ciena Corporation (NASDAQ:CIEN) is a provider of communications networking equipment, software and services that support the transport, switching, aggregation and management of voice, video and data traffic.
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