Ciena Co. (CIEN) CEO Gary B. Smith Sold 9,600 Shares

Ciena Co. (CIEN) CEO Gary B. Smith Sold 9,600 Shares

Ciena Co. (NYSE:CIEN) CEO Gary B. Smith sold 9,600 shares of Ciena stock in a transaction dated Friday, February 8th. The shares were sold at an average price of $37.52, for a total transaction of $360,192.00. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

On Wednesday, January 23rd, Gary B. Smith sold 4,800 shares of Ciena stock. The shares were sold at an average price of $38.27, for a total transaction of $183,696.00.

On Friday, January 11th, Gary B. Smith sold 9,600 shares of Ciena stock. The shares were sold at an average price of $36.82, for a total transaction of $353,472.00.

On Thursday, December 27th, Gary B. Smith sold 4,800 shares of Ciena stock. The shares were sold at an average price of $31.73, for a total transaction of $152,304.00.

On Friday, December 28th, Gary B. Smith sold 9,600 shares of Ciena stock. The shares were sold at an average price of $32.33, for a total transaction of $310,368.00.

On Friday, November 30th, Gary B. Smith sold 9,600 shares of Ciena stock. The shares were sold at an average price of $32.47, for a total transaction of $311,712.00.

On Wednesday, November 14th, Gary B. Smith sold 9,600 shares of Ciena stock. The shares were sold at an average price of $32.74, for a total transaction of $314,304.00.

CIEN stock traded up $0.82 during mid-day trading on Monday, hitting $38.70. The company had a trading volume of 2,203,417 shares, compared to its average volume of 2,498,436. The firm has a market cap of $5.93 billion, a price-to-earnings ratio of 34.55, a P/E/G ratio of 1.69 and a beta of 1.03. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.95 and a current ratio of 2.22. Ciena Co. has a 12 month low of $21.96 and a 12 month high of $40.16.

Ciena (NYSE:CIEN) last announced its quarterly earnings data on Thursday, December 13th. The communications equipment provider reported $0.53 EPS for the quarter, topping the consensus estimate of $0.48 by $0.05. The business had revenue of $889.40 million for the quarter, compared to analyst estimates of $862.54 million. Ciena had a negative net margin of 11.14% and a positive return on equity of 9.31%. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.46 earnings per share. Analysts forecast that Ciena Co. will post 1.44 earnings per share for the current year.

A number of research analysts recently weighed in on the stock. TheStreet lowered shares of Ciena from a “b” rating to a “c+” rating in a research report on Friday, December 14th. Zacks Investment Research raised shares of Ciena from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research report on Tuesday, December 11th. MKM Partners raised their price target on shares of Ciena from $38.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, December 14th. Northland Securities set a $32.00 price target on shares of Ciena and gave the company a “buy” rating in a research report on Thursday, December 20th. Finally, JPMorgan Chase & Co. set a $42.00 price target on shares of Ciena and gave the company a “buy” rating in a research report on Friday, December 14th. Eight equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Ciena presently has a consensus rating of “Buy” and a consensus price target of $37.02.

A number of hedge funds have recently made changes to their positions in CIEN. Oregon Public Employees Retirement Fund raised its position in Ciena by 3,337.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,908,421 shares of the communications equipment provider’s stock worth $56,000 after acquiring an additional 1,852,903 shares during the period. Alliancebernstein L.P. increased its stake in shares of Ciena by 52.0% in the third quarter. Alliancebernstein L.P. now owns 4,588,525 shares of the communications equipment provider’s stock worth $143,346,000 after purchasing an additional 1,568,877 shares in the last quarter. BlackRock Inc. increased its stake in shares of Ciena by 9.6% in the fourth quarter. BlackRock Inc. now owns 17,899,503 shares of the communications equipment provider’s stock worth $606,974,000 after purchasing an additional 1,561,445 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Ciena by 493.9% in the third quarter. Renaissance Technologies LLC now owns 1,232,195 shares of the communications equipment provider’s stock worth $38,494,000 after purchasing an additional 1,024,721 shares in the last quarter. Finally, Sadoff Investment Management LLC purchased a new position in shares of Ciena in the fourth quarter worth about $31,984,000. 99.17% of the stock is currently owned by institutional investors and hedge funds.

About Ciena

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.

Featured Story: Cash Flow

Related posts

Leave a Comment