Ciena Co. (CIEN) CEO Sells $179,680.00 in Stock

Ciena Co. (NYSE:CIEN) CEO Gary B. Smith sold 8,000 shares of Ciena stock in a transaction on Friday, February 9th. The stock was sold at an average price of $22.46, for a total transaction of $179,680.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

  • On Wednesday, January 24th, Gary B. Smith sold 8,000 shares of Ciena stock. The stock was sold at an average price of $21.85, for a total transaction of $174,800.00.
  • On Friday, January 12th, Gary B. Smith sold 8,000 shares of Ciena stock. The stock was sold at an average price of $21.86, for a total transaction of $174,880.00.
  • On Wednesday, December 27th, Gary B. Smith sold 4,000 shares of Ciena stock. The stock was sold at an average price of $21.66, for a total transaction of $86,640.00.
  • On Thursday, December 28th, Gary B. Smith sold 8,000 shares of Ciena stock. The stock was sold at an average price of $21.47, for a total transaction of $171,760.00.
  • On Thursday, December 21st, Gary B. Smith sold 113,735 shares of Ciena stock. The stock was sold at an average price of $21.22, for a total transaction of $2,413,456.70.
  • On Friday, December 15th, Gary B. Smith sold 8,000 shares of Ciena stock. The stock was sold at an average price of $21.38, for a total transaction of $171,040.00.
  • On Tuesday, November 21st, Gary B. Smith sold 10,000 shares of Ciena stock. The stock was sold at an average price of $20.55, for a total transaction of $205,500.00.

Ciena Co. (NYSE CIEN) traded up $0.14 during trading on Monday, hitting $22.39. 2,310,544 shares of the stock traded hands, compared to its average volume of 2,851,575. The firm has a market cap of $3,196.87, a price-to-earnings ratio of 2.80, a PEG ratio of 1.42 and a beta of 1.67. Ciena Co. has a one year low of $19.40 and a one year 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.

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

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

A number of equities research analysts recently commented on CIEN shares. Zacks Investment Research lowered shares of Ciena from a “hold” rating to a “sell” rating in a report on Wednesday, November 15th. B. Riley dropped their price objective on shares of Ciena from $30.50 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, December 5th. BidaskClub lowered shares of Ciena from a “sell” rating to a “strong sell” rating in a report on Saturday, November 4th. Goldman Sachs Group upgraded shares of Ciena from a “neutral” rating to a “buy” rating and set a $27.00 price objective on the stock in a report on Monday, January 15th. Finally, William Blair restated a “buy” rating on shares of Ciena in a report on Monday, November 13th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $28.48.

Several institutional investors have recently added to or reduced their stakes in the company. State Street Corp increased its stake in shares of Ciena by 3.9% during the 2nd quarter. State Street Corp now owns 4,648,540 shares of the communications equipment provider’s stock worth $116,319,000 after purchasing an additional 172,876 shares during the last quarter. Neuberger Berman Group LLC boosted its holdings in shares of 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 worth $92,657,000 after buying an additional 2,652,791 shares during the period. Schroder Investment Management Group boosted its holdings in shares of Ciena by 7.2% during 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 during the period. Westfield Capital Management Co. LP boosted its holdings in shares of Ciena by 21.5% during the 3rd quarter. Westfield Capital Management Co. LP now owns 2,594,285 shares of the communications equipment provider’s stock worth $56,996,000 after buying an additional 459,190 shares during the period. Finally, Rubric Capital Management LP bought a new stake in shares of Ciena during the 3rd quarter worth about $33,373,000.

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Ciena 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 (NYSE:CIEN)

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