Ciena Co. (CIEN) SVP James E. Moylan, Jr. Sells 2,000 Shares

Ciena Co. (NYSE:CIEN) SVP James E. Moylan, Jr. sold 2,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $23.00, for a total value of $46,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

  • On Thursday, January 11th, James E. Moylan, Jr. sold 2,000 shares of Ciena stock. The shares were sold at an average price of $21.81, for a total value of $43,620.00.
  • On Thursday, December 28th, James E. Moylan, Jr. sold 2,000 shares of Ciena stock. The stock was 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 stock was 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 stock was 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 stock was sold at an average price of $21.46, for a total value of $42,920.00.

Ciena Co. (CIEN) traded up $0.14 during trading on Monday, reaching $22.39. The company’s stock had a trading volume of 2,310,544 shares, compared to its average volume of 2,851,575. 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 firm has a market cap of $3,196.87, a PE ratio of 2.80, a price-to-earnings-growth ratio of 1.42 and a beta of 1.67. Ciena Co. has a 12-month low of $19.40 and a 12-month high of $27.98.

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

Ciena declared that its board has approved a stock repurchase plan on Thursday, December 7th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the communications equipment provider to buy shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Institutional investors have recently bought and sold shares of the business. Parametric Portfolio Associates LLC raised its holdings in Ciena by 15.9% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 187,277 shares of the communications equipment provider’s stock valued at $4,686,000 after acquiring an additional 25,663 shares in the last quarter. Stifel Financial Corp raised its holdings in Ciena by 15.5% in the 3rd quarter. Stifel Financial Corp now owns 70,070 shares of the communications equipment provider’s stock valued at $1,538,000 after acquiring an additional 9,389 shares in the last quarter. Westfield Capital Management Co. LP raised its holdings in Ciena by 21.5% in the 3rd quarter. Westfield Capital Management Co. LP now owns 2,594,285 shares of the communications equipment provider’s stock valued at $56,996,000 after acquiring an additional 459,190 shares in the last quarter. State Street Corp raised its holdings in Ciena by 3.9% in the 2nd quarter. State Street Corp now owns 4,648,540 shares of the communications equipment provider’s stock valued at $116,319,000 after acquiring an additional 172,876 shares in the last quarter. Finally, Peregrine Capital Management LLC raised its holdings in Ciena by 13.9% in the 3rd quarter. Peregrine Capital Management LLC now owns 1,297,632 shares of the communications equipment provider’s stock valued at $28,509,000 after acquiring an additional 158,060 shares in the last quarter.

CIEN has been the subject of a number of analyst reports. Zacks Investment Research cut Ciena from a “hold” rating to a “sell” rating in a research report on Wednesday, November 15th. B. Riley reduced their price target on Ciena from $30.50 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, December 5th. BidaskClub cut Ciena from a “sell” rating to a “strong sell” rating in a research report on Saturday, November 4th. Goldman Sachs Group raised Ciena from a “neutral” rating to a “buy” rating and set a $27.00 price target for the company in a research report on Monday, January 15th. Finally, William Blair reaffirmed a “buy” rating on shares of Ciena in a research report on Monday, November 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty have assigned a buy rating to the company’s stock. Ciena presently has an average rating of “Buy” and a consensus 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.

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

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