Ciena Corporation (NYSE:CIEN) CEO Gary B. Smith sold 12,634 shares of the business’s stock in a transaction on Thursday, September 21st. The shares were sold at an average price of $21.25, for a total value of $268,472.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

  • On Wednesday, September 13th, Gary B. Smith sold 8,000 shares of Ciena Corporation stock. The shares were sold at an average price of $21.50, for a total value of $172,000.00.
  • On Tuesday, August 22nd, Gary B. Smith sold 8,000 shares of Ciena Corporation stock. The shares were sold at an average price of $23.27, for a total value of $186,160.00.
  • On Friday, August 11th, Gary B. Smith sold 8,000 shares of Ciena Corporation stock. The shares were sold at an average price of $24.20, for a total value of $193,600.00.
  • On Wednesday, July 26th, Gary B. Smith sold 4,000 shares of Ciena Corporation stock. The shares were sold at an average price of $26.25, for a total value of $105,000.00.
  • On Thursday, July 27th, Gary B. Smith sold 8,000 shares of Ciena Corporation stock. The shares were sold at an average price of $26.07, for a total value of $208,560.00.
  • On Monday, July 10th, Gary B. Smith sold 4,000 shares of Ciena Corporation stock. The shares were sold at an average price of $25.84, for a total value of $103,360.00.
  • On Tuesday, July 11th, Gary B. Smith sold 8,000 shares of Ciena Corporation stock. The shares were sold at an average price of $25.87, for a total value of $206,960.00.

Shares of Ciena Corporation (CIEN) traded up 0.89% during midday trading on Friday, reaching $21.57. The company had a trading volume of 2,165,675 shares. The stock has a 50-day moving average of $23.44 and a 200 day moving average of $24.06. Ciena Corporation has a 52 week low of $18.94 and a 52 week high of $27.98. The firm has a market capitalization of $3.08 billion, a price-to-earnings ratio of 23.60 and a beta of 1.68.

Ciena Corporation (NYSE:CIEN) last released its quarterly earnings results on Thursday, August 31st. The communications equipment provider reported $0.51 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.02. The company had revenue of $728.70 million during the quarter, compared to analyst estimates of $726.81 million. Ciena Corporation had a return on equity of 25.53% and a net margin of 4.99%. The firm’s revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the business posted $0.42 earnings per share. On average, analysts anticipate that Ciena Corporation will post $1.74 earnings per share for the current year.

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A number of research firms recently issued reports on CIEN. Nomura reiterated a “buy” rating and set a $28.00 price objective on shares of Ciena Corporation in a research note on Wednesday. Zacks Investment Research lowered Ciena Corporation from a “buy” rating to a “hold” rating in a research note on Friday, September 8th. B. Riley reiterated a “buy” rating and set a $30.50 price objective on shares of Ciena Corporation in a research note on Sunday, September 3rd. Northland Securities reiterated a “buy” rating and set a $30.00 price objective on shares of Ciena Corporation in a research note on Sunday, September 3rd. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $30.00 price objective on shares of Ciena Corporation in a research note on Thursday, August 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $29.79.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Ciena Corporation 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 in the last quarter. Fortaleza Asset Management Inc. purchased a new position in Ciena Corporation in the second quarter worth about $134,000. Advisor Group Inc. grew its position in Ciena Corporation 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 in the last quarter. Acadian Asset Management LLC purchased a new position in Ciena Corporation in the second quarter worth about $159,000. Finally, Meadow Creek Investment Management LLC grew its position in Ciena Corporation by 12.1% in the first quarter. Meadow Creek Investment Management LLC now owns 8,160 shares of the communications equipment provider’s stock worth $193,000 after acquiring an additional 884 shares in the last quarter.

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.

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

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