Ciena (NYSE:CIEN) CFO Marc Graff Sells 126 Shares

Ciena Corporation (NYSE:CIEN) CFO Marc Graff sold 126 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $466.20, for a total value of $58,741.20. Following the completion of the sale, the chief financial officer owned 126,955 shares of the company’s stock, valued at $59,186,421. The trade was a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ciena Stock Down 3.8%

Shares of NYSE:CIEN opened at $417.25 on Tuesday. The firm has a market cap of $59.06 billion, a P/E ratio of 140.50 and a beta of 1.27. Ciena Corporation has a 12-month low of $76.89 and a 12-month high of $637.51. The business has a fifty day simple moving average of $512.19 and a 200 day simple moving average of $392.42. The company has a quick ratio of 2.11, a current ratio of 2.73 and a debt-to-equity ratio of 0.53.

Ciena (NYSE:CIEN) last released its quarterly earnings results on Thursday, June 4th. The communications equipment provider reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.18. Ciena had a return on equity of 18.15% and a net margin of 7.87%.The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the previous year, the company posted $0.42 EPS. The business’s revenue was up 39.5% on a year-over-year basis. Analysts predict that Ciena Corporation will post 5.4 earnings per share for the current year.

Institutional Investors Weigh In On Ciena

A number of large investors have recently bought and sold shares of CIEN. Community Bank N.A. bought a new position in shares of Ciena during the 3rd quarter worth about $25,000. Transamerica Financial Advisors LLC raised its stake in Ciena by 71.0% during the 4th quarter. Transamerica Financial Advisors LLC now owns 106 shares of the communications equipment provider’s stock worth $25,000 after buying an additional 44 shares during the period. Asset Dedication LLC boosted its holdings in Ciena by 2,100.0% in the first quarter. Asset Dedication LLC now owns 88 shares of the communications equipment provider’s stock worth $34,000 after acquiring an additional 84 shares in the last quarter. Hilltop National Bank acquired a new stake in Ciena in the fourth quarter valued at approximately $35,000. Finally, Truvestments Capital LLC raised its position in shares of Ciena by 45.3% during the fourth quarter. Truvestments Capital LLC now owns 154 shares of the communications equipment provider’s stock worth $36,000 after purchasing an additional 48 shares during the period. 91.99% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Ciena

Here are the key news stories impacting Ciena this week:

• Positive Sentiment: Ciena was highlighted in multiple growth-stock and valuation pieces, with some authors arguing the shares still look cheap despite a strong run this year, keeping investor focus on upside potential. Ciena (CIEN) Growth Index Entry Puts Its Valuation Back In Focus
• Positive Sentiment: The company was included in Zacks’ list of top-ranked July growth stocks, with AI demand and easing inflation cited as supportive backdrops for the name. 5 Top-Ranked Growth Stocks to Buy for July After a Mixed June
• Positive Sentiment: Ciena said it is trialing AI automation with Telefónica Deutschland for 5G network slicing, reinforcing the company’s positioning in AI-enabled network infrastructure. Ciena (CIEN) Trials AI Automation With Telefónica Deutschland For 5G Network Slicing
• Neutral Sentiment: Ciena appointed new supply chain and product technology chiefs, a management change that could help execution but is not an immediate financial catalyst. Ciena (CIEN) Names New Supply Chain and Product Technology Chiefs
• Neutral Sentiment: Several executives, including the CEO and CFO, sold shares under pre-arranged 10b5-1 plans. While these sales are worth noting, they were disclosed as planned transactions and do not necessarily signal a change in fundamentals. CEO Stock Sale Filing
• Negative Sentiment: The main overhang is valuation: after a sharp year-to-date move, some investors may worry the stock is getting expensive relative to growth expectations. Ciena: Up 80 Percent YTD And Still Cheap

Wall Street Analyst Weigh In

Several research analysts have issued reports on CIEN shares. Stifel Nicolaus set a $615.00 price target on shares of Ciena in a report on Friday, May 29th. TD Cowen increased their price objective on shares of Ciena from $425.00 to $675.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Argus set a $650.00 target price on shares of Ciena in a research note on Friday, June 5th. Bank of America boosted their target price on shares of Ciena from $550.00 to $660.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. Finally, UBS Group upped their price target on shares of Ciena from $285.00 to $508.00 and gave the company a “neutral” rating in a research report on Friday, June 5th. Thirteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $530.56.

Ciena Company Profile

Ciena Corporation (NYSE: CIEN) is a global supplier of telecommunications networking equipment, software and services. The company develops high-capacity optical transport systems and packet-optical platforms that enable service providers, cloud operators and large enterprises to build, manage and scale their networks. Ciena’s product portfolio includes coherent optical solutions, packet networking platforms and a suite of network automation software designed to optimize bandwidth, reduce latency and simplify network operations.

In addition to hardware offerings, Ciena provides professional services and support, including network design, implementation and ongoing maintenance.