Ciena Corporation (NYSE:CIEN) SVP James E. Moylan, Jr. sold 2,000 shares of the firm’s stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $21.81, for a total value of $43,620.00. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

  • On Friday, December 28th, James E. Moylan, Jr. sold 2,000 shares of Ciena stock. The shares were sold at an average price of $21.56, for a total value of $43,120.00.
  • On Thursday, December 21st, James E. Moylan, Jr. sold 27,284 shares of Ciena stock. The shares were sold at an average price of $21.22, for a total value of $578,966.48.
  • On Thursday, December 14th, James E. Moylan, Jr. sold 2,000 shares of Ciena stock. The shares were sold at an average price of $21.54, for a total value of $43,080.00.
  • 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.

Ciena Corporation (NYSE:CIEN) traded up $0.62 during trading hours on Tuesday, reaching $22.56. The company had a trading volume of 3,737,438 shares, compared to its average volume of 2,470,980. Ciena Corporation has a twelve month low of $19.40 and a twelve month high of $27.98. The firm has a market cap of $3,240.00, a price-to-earnings ratio of 3.26, a P/E/G ratio of 1.40 and a beta of 1.67. The company has a quick ratio of 1.68, a current ratio of 1.93 and a debt-to-equity ratio of 0.27.

Ciena (NYSE:CIEN) last released its quarterly earnings data on Thursday, December 7th. The communications equipment provider reported $0.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.04). Ciena had a net margin of 45.04% and a return on equity of 18.32%. The company had revenue of $744.40 million for the quarter, compared to analyst estimates of $736.91 million. During the same quarter in the prior year, the firm earned $0.44 EPS. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. sell-side analysts forecast that Ciena Corporation will post 1 EPS for the current fiscal year.

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

A number of equities research analysts have weighed in on CIEN shares. Bank of America upgraded Ciena from a “neutral” rating to a “buy” rating and raised their price objective for the company from $20.98 to $28.00 in a research note on Monday, November 27th. Zacks Investment Research upgraded Ciena from a “sell” rating to a “hold” rating in a research note on Tuesday, November 7th. BidaskClub lowered Ciena from a “sell” rating to a “strong sell” rating in a research note on Saturday, November 4th. Piper Jaffray Companies restated a “buy” rating on shares of Ciena in a research note on Thursday, October 12th. Finally, Stifel Nicolaus restated a “buy” rating on shares of Ciena in a research note on Friday, November 3rd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twenty have assigned a buy rating to the stock. Ciena presently has an average rating of “Buy” and a consensus price target of $28.48.

A number of large investors have recently added to or reduced their stakes in CIEN. Neuberger Berman Group LLC boosted its position in Ciena by 169.5% during the 3rd quarter. Neuberger Berman Group LLC now owns 4,217,455 shares of the communications equipment provider’s stock valued at $92,657,000 after purchasing an additional 2,652,791 shares during the period. Rubric Capital Management LP acquired a new position in Ciena during the 3rd quarter valued at approximately $33,373,000. Becker Capital Management Inc. acquired a new position in Ciena during the 3rd quarter valued at approximately $27,188,000. FIL Ltd acquired a new position in Ciena during the 2nd quarter valued at approximately $23,010,000. Finally, Quentec Asset Management LLC acquired a new position in Ciena during the 2nd quarter valued at approximately $14,512,000.

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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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