Ciena Corporation (CIEN) SVP Sells $22,740.00 in Stock

Ciena Corporation (NYSE:CIEN) SVP Scott Mcfeely sold 1,000 shares of Ciena stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $22.74, for a total value of $22,740.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Scott Mcfeely also recently made the following trade(s):

  • On Wednesday, November 15th, Scott Mcfeely sold 1,000 shares of Ciena stock. The shares were sold at an average price of $19.50, for a total value of $19,500.00.

Shares of Ciena Corporation (NYSE CIEN) traded down $0.83 during mid-day trading on Friday, reaching $22.04. The company’s stock had a trading volume of 4,272,500 shares, compared to its average volume of 2,651,142. The company has a quick ratio of 1.68, a current ratio of 1.93 and a debt-to-equity ratio of 0.27. Ciena Corporation has a 12-month low of $19.40 and a 12-month high of $27.98. The company has a market capitalization of $3,170.00, a P/E ratio of 3.18, a P/E/G ratio of 1.46 and a beta of 1.67.

Ciena (NYSE:CIEN) last posted its earnings results on Thursday, December 7th. The communications equipment provider reported $0.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.04). Ciena had a net margin of 45.04% and a return on equity of 18.32%. The business had revenue of $744.40 million for the quarter, compared to analysts’ expectations of $736.91 million. During the same period last year, the firm posted $0.44 earnings per share. Ciena’s quarterly revenue was up 3.9% on a year-over-year basis. equities analysts forecast that Ciena Corporation will post 1 EPS for the current year.

Ciena declared that its board has initiated a stock buyback plan on Thursday, December 7th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the communications equipment provider to repurchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Several institutional investors and hedge funds have recently bought and sold shares of CIEN. Prudential Financial Inc. increased its stake in shares of Ciena by 1.4% during the second quarter. Prudential Financial Inc. now owns 94,559 shares of the communications equipment provider’s stock valued at $2,366,000 after buying an additional 1,320 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Ciena by 11.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,085 shares of the communications equipment provider’s stock valued at $127,000 after buying an additional 517 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Ciena by 0.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,690 shares of the communications equipment provider’s stock valued at $518,000 after buying an additional 58 shares during the period. Nationwide Fund Advisors increased its stake in shares of Ciena by 5.8% during the second quarter. Nationwide Fund Advisors now owns 414,182 shares of the communications equipment provider’s stock valued at $10,363,000 after buying an additional 22,734 shares during the period. Finally, Amalgamated Bank increased its stake in shares of Ciena by 7.4% during the second quarter. Amalgamated Bank now owns 20,300 shares of the communications equipment provider’s stock valued at $508,000 after buying an additional 1,400 shares during the period.

A number of research analysts have weighed in on the company. MKM Partners reaffirmed a “buy” rating and set a $30.00 target price on shares of Ciena in a report on Tuesday, September 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 target price (down previously from $31.00) on shares of Ciena in a report on Monday, September 25th. Stifel Nicolaus reaffirmed a “buy” rating and set a $30.00 target price on shares of Ciena in a report on Tuesday, September 26th. Goldman Sachs Group raised Ciena from a “neutral” rating to a “buy” rating and set a $27.00 target price for the company in a report on Monday. Finally, Zacks Investment Research lowered Ciena from a “hold” rating to a “sell” rating in a report on Wednesday, November 15th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twenty have assigned a buy rating to the company’s stock. Ciena currently has an average rating of “Buy” and a consensus target price of $28.48.

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About Ciena

Ciena Corporation is a network strategy and technology company, which provides solutions that enable a range of network operators to adopt communication architectures and deliver an array of services, relied upon by enterprise and consumer end users. It provides equipment, software and services that support the transport, switching, aggregation, service delivery and management of voice, video and data traffic on communications networks.

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

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