Ciena Corporation (NYSE:CIEN) SVP James E. Moylan, Jr. sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $21.54, for a total value of $43,080.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

James E. Moylan, Jr. also recently made the following trade(s):

  • On Thursday, November 30th, James E. Moylan, Jr. sold 2,000 shares of Ciena stock. The shares were sold at an average price of $21.46, for a total value of $42,920.00.
  • On Thursday, November 2nd, James E. Moylan, Jr. sold 2,000 shares of Ciena stock. The shares were sold at an average price of $20.46, for a total value of $40,920.00.
  • On Thursday, October 19th, James E. Moylan, Jr. sold 2,000 shares of Ciena stock. The shares were sold at an average price of $21.10, for a total value of $42,200.00.
  • On Thursday, September 21st, James E. Moylan, Jr. sold 2,000 shares of Ciena stock. The shares were sold at an average price of $21.25, for a total value of $42,500.00.
  • On Thursday, September 21st, James E. Moylan, Jr. sold 3,053 shares of Ciena stock. The shares were sold at an average price of $21.25, for a total value of $64,876.25.

Ciena Corporation (NYSE:CIEN) traded down $0.25 during trading on Friday, reaching $21.25. The company’s stock had a trading volume of 2,355,800 shares, compared to its average volume of 3,159,366. Ciena Corporation has a 12-month low of $19.40 and a 12-month high of $27.98. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.68 and a current ratio of 1.93. The company has a market cap of $3,075.43, a price-to-earnings ratio of 15.36, a PEG ratio of 1.37 and a beta of 1.67.

Ciena (NYSE:CIEN) last posted its quarterly earnings data 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). Ciena had a return on equity of 18.32% and a net margin of 45.04%. The company had revenue of $744.40 million for the quarter, compared to the consensus estimate of $736.91 million. During the same quarter last year, the business earned $0.44 EPS. Ciena’s revenue was up 3.9% on a year-over-year basis. equities analysts expect that Ciena Corporation will post 1 earnings per share for the current year.

Ciena declared that its board has approved a share buyback program on Thursday, December 7th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the communications equipment provider to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

A number of institutional investors have recently bought and sold shares of CIEN. Capstone Asset Management Co. increased its stake in Ciena by 1.3% during the 2nd quarter. Capstone Asset Management Co. now owns 10,490 shares of the communications equipment provider’s stock worth $262,000 after acquiring an additional 130 shares during the period. Aperio Group LLC increased its stake in Ciena by 7.1% during the 2nd quarter. Aperio Group LLC now owns 26,237 shares of the communications equipment provider’s stock worth $656,000 after acquiring an additional 1,742 shares during the period. Acadian Asset Management LLC bought a new position in Ciena during the 2nd quarter worth $159,000. Strs Ohio increased its stake in Ciena by 15.5% during the 2nd quarter. Strs Ohio now owns 19,400 shares of the communications equipment provider’s stock worth $485,000 after acquiring an additional 2,600 shares during the period. Finally, Janney Montgomery Scott LLC bought a new position in Ciena during the 2nd quarter worth $551,000.

A number of research firms have recently issued reports on CIEN. B. Riley reaffirmed a “buy” rating and issued a $34.25 price objective on shares of Ciena in a research report on Tuesday, August 29th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Ciena in a research report on Tuesday, September 26th. Nomura reiterated a “buy” rating and set a $28.00 target price on shares of Ciena in a research note on Wednesday, September 20th. Needham & Company LLC reiterated a “buy” rating and set a $28.00 target price (down previously from $31.00) on shares of Ciena in a research note on Monday, September 25th. Finally, Raymond James Financial set a $33.00 target price on Ciena and gave the stock a “buy” rating in a research note on Thursday, December 7th. Two analysts have rated the stock with a sell rating, four have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $28.48.

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About Ciena

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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