James Frodsham Sells 2,121 Shares of Ciena Co. (CIEN) Stock

Ciena Co. (NYSE:CIEN) VP James Frodsham sold 2,121 shares of the firm’s stock in a transaction dated Wednesday, March 21st. The stock was sold at an average price of $26.58, for a total value of $56,376.18. The sale was disclosed in a filing with the SEC, which is accessible through this link.

James Frodsham also recently made the following trade(s):

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  • On Thursday, February 15th, James Frodsham sold 4,000 shares of Ciena stock. The shares were sold at an average price of $23.14, for a total value of $92,560.00.
  • On Monday, February 12th, James Frodsham sold 4,000 shares of Ciena stock. The shares were sold at an average price of $22.37, for a total value of $89,480.00.

Shares of Ciena stock opened at $25.50 on Friday. Ciena Co. has a 1 year low of $19.40 and a 1 year high of $27.98. The stock has a market capitalization of $3,680.16, a P/E ratio of 19.77, a P/E/G ratio of 1.53 and a beta of 1.51. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.06 and a quick ratio of 1.79.

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

Ciena announced that its Board of Directors has initiated a share buyback plan on Thursday, December 7th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the communications equipment provider to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Several research firms have recently weighed in on CIEN. Northland Securities reiterated a “buy” rating and set a $34.00 price objective on shares of Ciena in a report on Monday, March 19th. Zacks Investment Research upgraded Ciena from a “sell” rating to a “buy” rating and set a $30.00 price objective on the stock in a report on Tuesday, March 13th. Citigroup lifted their price objective on Ciena from $30.00 to $32.00 and gave the company a “buy” rating in a report on Friday, March 9th. Morgan Stanley reiterated an “equal weight” rating and set a $29.00 price objective (up previously from $25.00) on shares of Ciena in a report on Friday, March 9th. Finally, ValuEngine upgraded Ciena from a “hold” rating to a “buy” rating in a report on Friday, March 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $29.81.

A number of institutional investors have recently made changes to their positions in CIEN. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Ciena by 47.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,488 shares of the communications equipment provider’s stock worth $157,000 after purchasing an additional 2,403 shares during the last quarter. Stone Ridge Asset Management LLC acquired a new position in shares of Ciena during the 4th quarter worth approximately $225,000. Corient Capital Partners LLC acquired a new position in shares of Ciena during the 4th quarter worth approximately $230,000. Aristotle Atlantic Partners LLC acquired a new position in shares of Ciena during the 4th quarter worth approximately $244,000. Finally, Crossmark Global Holdings Inc. acquired a new position in shares of Ciena during the 3rd quarter worth approximately $246,000.

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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.

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