Ciena Corp. (CIEN) COO Sells $278,298.16 in Stock
Ciena Corp. (NYSE:CIEN) COO Francois Locoh-Donou sold 13,202 shares of Ciena Corp. stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $21.08, for a total value of $278,298.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Francois Locoh-Donou also recently made the following trade(s):
- On Tuesday, August 16th, Francois Locoh-Donou sold 10,424 shares of Ciena Corp. stock. The shares were sold at an average price of $22.00, for a total value of $229,328.00.
- On Monday, August 8th, Francois Locoh-Donou sold 11,640 shares of Ciena Corp. stock. The shares were sold at an average price of $20.27, for a total value of $235,942.80.
Ciena Corp. (NYSE:CIEN) opened at 22.26 on Friday. The firm has a market capitalization of $3.10 billion, a price-to-earnings ratio of 137.41 and a beta of 1.63. Ciena Corp. has a 1-year low of $15.62 and a 1-year high of $25.46. The company has a 50-day moving average price of $21.52 and a 200 day moving average price of $19.17.
Ciena Corp. (NYSE:CIEN) last posted its earnings results on Thursday, September 1st. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.38 by $0.04. The firm had revenue of $670.60 million for the quarter, compared to analysts’ expectations of $672.23 million. Ciena Corp. had a return on equity of 22.41% and a net margin of 0.86%. The firm’s revenue was up 11.2% compared to the same quarter last year. During the same period last year, the firm earned $0.37 EPS. Equities analysts anticipate that Ciena Corp. will post $1.43 earnings per share for the current year.
Several research analysts have weighed in on CIEN shares. Needham & Company LLC reiterated a “buy” rating and issued a $30.00 target price on shares of Ciena Corp. in a research note on Tuesday, September 6th. Deutsche Bank AG set a $20.00 target price on Ciena Corp. and gave the company a “hold” rating in a research note on Sunday, September 4th. Bank of America Corp. reiterated a “buy” rating and issued a $21.03 target price (down from $25.00) on shares of Ciena Corp. in a research note on Monday, June 6th. BMO Capital Markets lifted their target price on Ciena Corp. to $27.00 and gave the company an “outperform” rating in a research note on Friday, September 2nd. Finally, MKM Partners reiterated a “buy” rating and issued a $28.00 target price (up from $26.00) on shares of Ciena Corp. in a research note on Wednesday, September 7th. Four equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $25.47.
Institutional investors have recently modified their holdings of the stock. LS Investment Advisors LLC raised its position in shares of Ciena Corp. by 70.1% in the second quarter. LS Investment Advisors LLC now owns 7,664 shares of the company’s stock worth $144,000 after buying an additional 3,159 shares during the last quarter. Oakbrook Investments LLC purchased a new position in shares of Ciena Corp. during the second quarter worth about $199,000. Clinton Group Inc. purchased a new position in shares of Ciena Corp. during the second quarter worth about $201,000. Acrospire Investment Management LLC purchased a new position in shares of Ciena Corp. during the second quarter worth about $206,000. Finally, Pacer Advisors Inc. purchased a new position in shares of Ciena Corp. during the second quarter worth about $218,000. 92.57% of the stock is owned by hedge funds and other institutional investors.
Ciena Corp. Company Profile
Ciena Corporation is a network specialist that focuses on providing communications networking solutions. The Company operates through four segments: Converged Packet Optical, Packet Networking, Optical Transport, and Software and Services. Its Converged Packet Optical portfolio includes networking solutions optimized for the convergence of coherent optical transport, optical transport network (OTN) switching and packet switching.
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