Ciena Co. (NYSE:CIEN) CEO Gary B. Smith Sells 4,166 Shares

Ciena Co. (NYSE:CIENGet Free Report) CEO Gary B. Smith sold 4,166 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $49.39, for a total transaction of $205,758.74. Following the completion of the sale, the chief executive officer now owns 389,275 shares of the company’s stock, valued at approximately $19,226,292.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Ciena Price Performance

CIEN stock opened at $48.62 on Thursday. The firm has a 50 day moving average of $53.74 and a 200-day moving average of $48.28. The company has a current ratio of 4.29, a quick ratio of 3.12 and a debt-to-equity ratio of 0.53. Ciena Co. has a 12 month low of $39.94 and a 12 month high of $63.24. The firm has a market capitalization of $7.03 billion, a P/E ratio of 31.57, a price-to-earnings-growth ratio of 2.14 and a beta of 0.99.

Ciena (NYSE:CIENGet Free Report) last released its quarterly earnings data on Thursday, March 7th. The communications equipment provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.18. Ciena had a net margin of 5.22% and a return on equity of 9.92%. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same period last year, the business earned $0.48 earnings per share. Ciena’s revenue was down 1.8% compared to the same quarter last year. As a group, sell-side analysts predict that Ciena Co. will post 1.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ciena

A number of large investors have recently modified their holdings of the company. John G Ullman & Associates Inc. grew its stake in Ciena by 1.4% in the 4th quarter. John G Ullman & Associates Inc. now owns 14,600 shares of the communications equipment provider’s stock worth $657,000 after buying an additional 200 shares in the last quarter. Bank of Montreal Can grew its stake in Ciena by 0.6% in the 1st quarter. Bank of Montreal Can now owns 36,296 shares of the communications equipment provider’s stock worth $2,227,000 after buying an additional 220 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in Ciena by 0.9% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 28,651 shares of the communications equipment provider’s stock worth $1,737,000 after buying an additional 252 shares in the last quarter. Janney Capital Management LLC grew its stake in Ciena by 2.8% in the 3rd quarter. Janney Capital Management LLC now owns 9,774 shares of the communications equipment provider’s stock worth $462,000 after buying an additional 264 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its stake in Ciena by 1.0% in the 2nd quarter. Commonwealth Equity Services LLC now owns 28,563 shares of the communications equipment provider’s stock worth $1,214,000 after buying an additional 277 shares in the last quarter. 91.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Raymond James decreased their price objective on shares of Ciena from $63.00 to $60.00 and set a “strong-buy” rating for the company in a report on Friday, December 8th. Rosenblatt Securities restated a “buy” rating and set a $65.00 price objective on shares of Ciena in a report on Friday, December 8th. Needham & Company LLC lifted their target price on shares of Ciena from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. B. Riley lifted their target price on shares of Ciena from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, December 8th. Finally, Evercore ISI lifted their target price on shares of Ciena from $57.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $60.17.

Check Out Our Latest Analysis on CIEN

About Ciena

(Get Free Report)

Ciena Corporation provides hardware and software services for delivery of video, data, and voice traffic metro, aggregation, and access communications network worldwide. The company's Networking Platforms segment offers convergence of coherent optical transport, open optical networking, optical transport network switching, IP routing, and switching services.

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