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

Ciena Co. (NYSE:CIEN) CEO Gary B. Smith sold 4,166 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $46.35, for a total transaction of $193,094.10. Following the transaction, the chief executive officer now directly owns 402,676 shares of the company’s stock, valued at approximately $18,664,032.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Ciena Stock Down 0.3 %

CIEN stock traded down $0.13 during midday trading on Monday, reaching $45.06. The company had a trading volume of 427,248 shares, compared to its average volume of 1,669,133. Ciena Co. has a 1 year low of $39.94 and a 1 year high of $54.25. The company has a current ratio of 3.95, a quick ratio of 2.71 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $6.66 billion, a P/E ratio of 30.53, a PEG ratio of 1.31 and a beta of 0.96. The company has a 50 day moving average of $44.74 and a two-hundred day moving average of $43.92.

Ciena (NYSE:CIEN) last announced its earnings results on Thursday, August 31st. The communications equipment provider reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.08. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Ciena had a return on equity of 10.00% and a net margin of 5.23%. The company’s revenue was up 23.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.18 earnings per share. On average, equities research analysts expect that Ciena Co. will post 1.97 earnings per share for the current fiscal year.

Institutional Trading of Ciena

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Orion Capital Management LLC bought a new position in Ciena during the first quarter valued at about $26,000. BOKF NA acquired a new stake in shares of Ciena in the 1st quarter valued at $30,000. BerganKDV Wealth Management LLC acquired a new stake in shares of Ciena in the 2nd quarter valued at $32,000. Farther Finance Advisors LLC boosted its stake in shares of Ciena by 63.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 849 shares of the communications equipment provider’s stock valued at $36,000 after purchasing an additional 331 shares in the last quarter. Finally, WealthPLAN Partners LLC acquired a new stake in shares of Ciena in the 1st quarter valued at $50,000. Institutional investors and hedge funds own 90.02% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on CIEN. Stifel Nicolaus began coverage on shares of Ciena in a report on Wednesday, September 27th. They set a “buy” rating and a $62.00 price target for the company. Evercore ISI boosted their price objective on Ciena from $47.00 to $52.00 and gave the company an “in-line” rating in a research report on Friday, September 1st. Rosenblatt Securities boosted their price objective on Ciena from $57.00 to $65.00 in a research report on Friday, September 1st. Needham & Company LLC reduced their price objective on Ciena from $60.00 to $50.00 and set a “buy” rating for the company in a research report on Monday, August 28th. Finally, StockNews.com started coverage on Ciena in a research report on Thursday, October 5th. They set a “hold” rating for the company. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $61.39.

Ciena Company Profile

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, IP routing, and switching services.