Ciena Co. (CIEN) CEO Gary B. Smith Sells 4,800 Shares

Ciena Co. (NYSE:CIEN) CEO Gary B. Smith sold 4,800 shares of the company’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $40.15, for a total value of $192,720.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

  • On Tuesday, April 9th, Gary B. Smith sold 9,600 shares of Ciena stock. The shares were sold at an average price of $37.21, for a total value of $357,216.00.
  • On Tuesday, March 26th, Gary B. Smith sold 9,600 shares of Ciena stock. The shares were sold at an average price of $37.25, for a total value of $357,600.00.
  • On Friday, March 15th, Gary B. Smith sold 9,600 shares of Ciena stock. The shares were sold at an average price of $39.49, for a total value of $379,104.00.
  • On Wednesday, February 20th, Gary B. Smith sold 9,600 shares of Ciena stock. The shares were sold at an average price of $42.15, for a total value of $404,640.00.
  • On Friday, February 8th, Gary B. Smith sold 9,600 shares of Ciena stock. The shares were sold at an average price of $37.52, for a total value of $360,192.00.

CIEN stock opened at $38.22 on Friday. Ciena Co. has a fifty-two week low of $22.99 and a fifty-two week high of $45.70. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.52 and a current ratio of 2.98. The company has a market cap of $5.96 billion, a P/E ratio of 34.13, a PEG ratio of 1.55 and a beta of 1.03.

Ciena (NYSE:CIEN) last posted its quarterly earnings results on Tuesday, March 5th. The communications equipment provider reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.06. Ciena had a return on equity of 10.73% and a net margin of 5.03%. The business had revenue of $778.53 million for the quarter, compared to the consensus estimate of $761.62 million. During the same period in the prior year, the business earned $0.15 EPS. The firm’s revenue for the quarter was up 20.5% on a year-over-year basis. On average, equities research analysts forecast that Ciena Co. will post 1.54 earnings per share for the current year.

CIEN has been the topic of several research analyst reports. Argus restated an “average” rating and set a $53.00 target price on shares of Ciena in a research report on Wednesday, March 6th. MKM Partners upped their target price on Ciena to $49.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Dougherty & Co upped their target price on Ciena from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. B. Riley upped their target price on Ciena from $42.20 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Finally, Nomura upped their target price on Ciena from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $42.30.

Hedge funds have recently bought and sold shares of the stock. Csenge Advisory Group acquired a new position in Ciena during the 3rd quarter worth approximately $29,000. Huntington National Bank purchased a new stake in shares of Ciena in the fourth quarter worth approximately $29,000. PRW Wealth Management LLC purchased a new stake in shares of Ciena in the fourth quarter worth approximately $38,000. Investors Research Corp purchased a new stake in shares of Ciena in the first quarter worth approximately $39,000. Finally, Ffcm LLC raised its stake in shares of Ciena by 355.7% in the fourth quarter. Ffcm LLC now owns 1,276 shares of the communications equipment provider’s stock worth $43,000 after purchasing an additional 996 shares during the last quarter. 93.34% of the stock is currently owned by institutional investors and hedge funds.

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Ciena Company Profile

Ciena Corporation provides network hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of video, data, and voice traffic on communications networks worldwide. The company's Networking Platforms segment offers hardware networking solutions optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching.

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

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