Ciena Co. (CIEN) SVP Jason Phipps Sells 1,524 Shares

Ciena Co. (NYSE:CIEN) SVP Jason Phipps sold 1,524 shares of Ciena stock in a transaction that occurred on Thursday, March 22nd. The stock was sold at an average price of $26.25, for a total value of $40,005.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Ciena Co. (CIEN) traded down $0.52 during trading on Friday, reaching $25.50. The company’s stock had a trading volume of 1,984,872 shares, compared to its average volume of 3,412,123. The company has a current ratio of 2.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $3,834.57, a price-to-earnings ratio of 5.46, a P/E/G ratio of 1.59 and a beta of 1.51. Ciena Co. has a one year low of $19.40 and a one year high of $27.98.

Ciena (NYSE:CIEN) last posted its quarterly earnings data on Tuesday, March 6th. The communications equipment provider reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.08. The company had revenue of $646.14 million for the quarter, compared to analyst estimates of $641.77 million. Ciena had a return on equity of 14.10% and a net margin of 27.76%. The business’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.17 earnings per share. equities analysts forecast that Ciena Co. will post 1.08 EPS for the current year.

Ciena declared that its board has approved a share repurchase program on Thursday, December 7th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the communications equipment provider to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Several analysts have recently weighed in on CIEN shares. Stifel Nicolaus lifted their price objective on Ciena from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, March 6th. UBS decreased their price objective on Ciena from $29.00 to $27.00 and set a “buy” rating on the stock in a report on Friday, December 8th. Needham & Company LLC decreased their price objective on Ciena from $26.00 to $24.00 and set a “buy” rating on the stock in a report on Friday, December 8th. Raymond James Financial set a $33.00 price objective on Ciena and gave the stock a “buy” rating in a report on Thursday, December 7th. Finally, Cowen reissued a “buy” rating and set a $33.00 price objective on shares of Ciena in a report on Wednesday, December 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-two have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $29.81.

Institutional investors have recently bought and sold shares of the business. Stifel Financial Corp boosted its stake in Ciena by 15.5% in the third quarter. Stifel Financial Corp now owns 70,070 shares of the communications equipment provider’s stock worth $1,538,000 after purchasing an additional 9,389 shares in the last quarter. Westfield Capital Management Co. LP boosted its stake in Ciena by 21.5% in the third quarter. Westfield Capital Management Co. LP now owns 2,594,285 shares of the communications equipment provider’s stock worth $56,996,000 after purchasing an additional 459,190 shares in the last quarter. Tredje AP fonden acquired a new position in Ciena in the third quarter worth $1,318,000. Neuberger Berman Group LLC boosted its stake in Ciena by 169.5% in the third quarter. Neuberger Berman Group LLC now owns 4,217,455 shares of the communications equipment provider’s stock worth $92,657,000 after purchasing an additional 2,652,791 shares in the last quarter. Finally, American International Group Inc. boosted its stake in Ciena by 2.7% in the third quarter. American International Group Inc. now owns 384,658 shares of the communications equipment provider’s stock worth $8,451,000 after purchasing an additional 10,284 shares in the last quarter.

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Ciena Company Profile

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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