Ciena Corporation (NYSE:CIEN) SVP Stephen B. Alexander sold 2,500 shares of the company’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $25.02, for a total transaction of $62,550.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Stephen B. Alexander also recently made the following trade(s):

  • On Monday, April 17th, Stephen B. Alexander sold 2,500 shares of Ciena Corporation stock. The stock was sold at an average price of $21.66, for a total transaction of $54,150.00.

Shares of Ciena Corporation (CIEN) traded up 0.94% during mid-day trading on Monday, hitting $25.67. 807,674 shares of the company were exchanged. The firm has a 50 day moving average of $24.33 and a 200 day moving average of $23.98. The company has a market capitalization of $3.64 billion, a price-to-earnings ratio of 33.91 and a beta of 1.71. Ciena Corporation has a 12-month low of $17.59 and a 12-month high of $27.98.

Ciena Corporation (NYSE:CIEN) last issued its quarterly earnings results on Thursday, June 1st. The communications equipment provider reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.08. Ciena Corporation had a return on equity of 25.56% and a net margin of 4.13%. The firm had revenue of $707.02 million for the quarter, compared to analyst estimates of $694.84 million. During the same period in the previous year, the firm earned $0.34 earnings per share. The company’s revenue was up 10.3% compared to the same quarter last year. Equities research analysts forecast that Ciena Corporation will post $1.77 earnings per share for the current year.

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

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Institutional investors have recently modified their holdings of the stock. Advisors Capital Management LLC acquired a new position in shares of Ciena Corporation during the first quarter valued at about $183,000. Thompson Davis & CO. Inc. acquired a new position in shares of Ciena Corporation during the first quarter valued at about $106,000. Glen Harbor Capital Management LLC raised its position in shares of Ciena Corporation by 12.1% in the first quarter. Glen Harbor Capital Management LLC now owns 5,280 shares of the communications equipment provider’s stock valued at $125,000 after buying an additional 572 shares during the period. Elkfork Partners LLC acquired a new position in shares of Ciena Corporation during the fourth quarter valued at about $146,000. Finally, Fortaleza Asset Management Inc. acquired a new position in shares of Ciena Corporation during the fourth quarter valued at about $179,000.

Several research firms have recently weighed in on CIEN. Needham & Company LLC reaffirmed a “buy” rating and issued a $30.00 target price on shares of Ciena Corporation in a report on Tuesday, March 21st. Stifel Nicolaus raised shares of Ciena Corporation from a “hold” rating to a “buy” rating and upped their target price for the stock from $24.00 to $28.00 in a report on Monday, May 22nd. Instinet reaffirmed a “buy” rating and issued a $30.00 target price (up previously from $27.00) on shares of Ciena Corporation in a report on Saturday, June 3rd. B. Riley reaffirmed a “buy” rating and issued a $33.75 target price on shares of Ciena Corporation in a report on Monday, March 6th. Finally, Cowen and Company reaffirmed an “outperform” rating and issued a $35.00 target price on shares of Ciena Corporation in a report on Monday, March 6th. Six equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $30.05.

Ciena Corporation 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.

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