Ciena Corp. (NYSE:CIEN) VP David M. Rothenstein sold 2,000 shares of the business’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $21.10, for a total value of $42,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

David M. Rothenstein also recently made the following trade(s):

  • On Monday, August 15th, David M. Rothenstein sold 2,000 shares of Ciena Corp. stock. The shares were sold at an average price of $20.84, for a total value of $41,680.00.
  • On Friday, July 15th, David M. Rothenstein sold 2,000 shares of Ciena Corp. stock. The shares were sold at an average price of $19.57, for a total value of $39,140.00.

Shares of Ciena Corp. (NYSE:CIEN) opened at 22.26 on Friday. The company has a market capitalization of $3.10 billion, a P/E ratio of 137.41 and a beta of 1.63. Ciena Corp. has a 12-month low of $15.62 and a 12-month high of $25.46. The stock has a 50 day moving average of $21.52 and a 200-day moving average of $19.17.

Ciena Corp. (NYSE:CIEN) last issued its earnings results on Thursday, September 1st. The company reported $0.42 EPS for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.04. The business earned $670.60 million during the quarter, compared to analysts’ expectations of $672.23 million. Ciena Corp. had a net margin of 0.86% and a return on equity of 22.41%. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.37 earnings per share. Equities research analysts forecast that Ciena Corp. will post $1.43 EPS for the current year.

Several large investors have recently modified their holdings of CIEN. Norges Bank acquired a new stake in shares of Ciena Corp. during the fourth quarter worth approximately $21,656,000. Apex Capital Management boosted its stake in Ciena Corp. by 5.6% in the first quarter. Apex Capital Management now owns 2,673,867 shares of the company’s stock valued at $50,857,000 after buying an additional 140,785 shares during the last quarter. Aperio Group LLC boosted its stake in Ciena Corp. by 6.1% in the first quarter. Aperio Group LLC now owns 19,467 shares of the company’s stock valued at $370,000 after buying an additional 1,124 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its stake in Ciena Corp. by 1.8% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 17,462 shares of the company’s stock valued at $332,000 after buying an additional 305 shares during the last quarter. Finally, AO Asset Management LLC boosted its stake in Ciena Corp. by 143.7% in the first quarter. AO Asset Management LLC now owns 736,000 shares of the company’s stock valued at $13,999,000 after buying an additional 434,000 shares during the last quarter. Institutional investors and hedge funds own 92.57% of the company’s stock.

A number of research firms have issued reports on CIEN. Dougherty & Co lifted their price target on Ciena Corp. from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, September 2nd. Morgan Stanley downgraded Ciena Corp. from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $23.17 to $23.00 in a research note on Friday, September 2nd. They noted that the move was a valuation call. Drexel Hamilton downgraded Ciena Corp. from a “buy” rating to a “hold” rating in a research note on Friday, September 2nd. Citigroup Inc. boosted their target price on Ciena Corp. from $23.00 to $24.00 and gave the stock a “neutral” rating in a research note on Friday, September 2nd. Finally, Jefferies Group boosted their target price on Ciena Corp. from $23.00 to $27.00 and gave the stock a “buy” rating in a research note on Friday, September 2nd. Four equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Ciena Corp. currently has an average rating of “Buy” and a consensus price target of $25.47.

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.

5 Day Chart for NYSE:CIEN

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