Scott Mcfeely Sells 1,000 Shares of Ciena Corporation (CIEN) Stock

Ciena Corporation (NYSE:CIEN) SVP Scott Mcfeely sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $22.74, for a total value of $22,740.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Scott Mcfeely also recently made the following trade(s):

  • On Wednesday, November 15th, Scott Mcfeely sold 1,000 shares of Ciena stock. The shares were sold at an average price of $19.50, for a total value of $19,500.00.

Ciena Corporation (NYSE CIEN) traded up $0.31 on Thursday, hitting $22.87. The stock had a trading volume of 2,831,300 shares, compared to its average volume of 2,503,745. Ciena Corporation has a 12 month low of $19.40 and a 12 month high of $27.98. The company has a quick ratio of 1.68, a current ratio of 1.93 and a debt-to-equity ratio of 0.27. The company has a market cap of $3,180.00, a P/E ratio of 3.30, a PEG ratio of 1.44 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 firm had revenue of $744.40 million during the quarter, compared to the consensus estimate of $736.91 million. During the same period in the prior year, the firm posted $0.44 EPS. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. research analysts expect that Ciena Corporation will post 1 earnings per share for the current fiscal year.

Ciena announced that its board has approved a share buyback program on Thursday, December 7th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the communications equipment provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Ciena by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 12,466,282 shares of the communications equipment provider’s stock worth $311,906,000 after buying an additional 203,112 shares in the last quarter. State Street Corp raised its stake in shares of Ciena by 3.9% in the 2nd quarter. State Street Corp now owns 4,648,540 shares of the communications equipment provider’s stock worth $116,319,000 after buying an additional 172,876 shares in the last quarter. Neuberger Berman Group LLC raised its stake in shares of Ciena by 169.5% in the 3rd quarter. Neuberger Berman Group LLC now owns 4,217,455 shares of the communications equipment provider’s stock worth $92,657,000 after buying an additional 2,652,791 shares in the last quarter. Schroder Investment Management Group raised its stake in shares of Ciena by 7.2% in the 3rd quarter. Schroder Investment Management Group now owns 2,982,417 shares of the communications equipment provider’s stock worth $65,822,000 after buying an additional 200,907 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Ciena by 1.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,821,175 shares of the communications equipment provider’s stock worth $70,588,000 after buying an additional 34,088 shares in the last quarter.

A number of research firms recently issued reports on CIEN. Needham & Company LLC reduced their price objective on Ciena from $26.00 to $24.00 and set a “buy” rating for the company in a research report on Friday, December 8th. BMO Capital Markets reiterated a “buy” rating on shares of Ciena in a research report on Friday, October 27th. Stifel Nicolaus reiterated a “buy” rating on shares of Ciena in a research report on Friday, November 3rd. Bank of America upgraded Ciena from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $20.98 to $28.00 in a research report on Monday, November 27th. Finally, Raymond James Financial set a $33.00 price target on Ciena and gave the stock a “buy” rating in a research report on Thursday, December 7th. 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 a consensus rating of “Buy” and an average price target 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.

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