Ciena Corporation (NYSE:CIEN) CEO Gary B. Smith sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $21.47, for a total transaction of $171,760.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Gary B. Smith also recently made the following trade(s):

  • On Thursday, December 21st, Gary B. Smith sold 113,735 shares of Ciena stock. The shares were sold at an average price of $21.22, for a total transaction of $2,413,456.70.
  • On Friday, December 15th, Gary B. Smith sold 8,000 shares of Ciena stock. The shares were sold at an average price of $21.38, for a total transaction of $171,040.00.
  • On Tuesday, November 21st, Gary B. Smith sold 10,000 shares of Ciena stock. The shares were sold at an average price of $20.55, for a total transaction of $205,500.00.
  • On Thursday, November 9th, Gary B. Smith sold 6,000 shares of Ciena stock. The shares were sold at an average price of $20.09, for a total transaction of $120,540.00.
  • On Tuesday, October 24th, Gary B. Smith sold 8,000 shares of Ciena stock. The shares were sold at an average price of $22.12, for a total transaction of $176,960.00.

Ciena Corporation (CIEN) traded down $0.46 during trading on Friday, reaching $20.93. 2,749,300 shares of the company’s stock traded hands, compared to its average volume of 3,132,901. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.68 and a current ratio of 1.93. The firm has a market capitalization of $3,000.00, a price-to-earnings ratio of 3.02, a price-to-earnings-growth ratio of 1.37 and a beta of 1.66. Ciena Corporation has a 12-month low of $19.40 and a 12-month high of $27.98.

Ciena (NYSE:CIEN) last posted its quarterly 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 return on equity of 18.32% and a net margin of 45.04%. The business had revenue of $744.40 million during the quarter, compared to analyst estimates of $736.91 million. During the same quarter last year, the firm posted $0.44 EPS. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. analysts predict that Ciena Corporation will post 1 EPS for the current fiscal year.

Ciena declared that its board has authorized a stock repurchase program on Thursday, December 7th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the communications equipment provider to repurchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Ciena by 11.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,085 shares of the communications equipment provider’s stock worth $127,000 after purchasing an additional 517 shares in the last quarter. Advisor Group Inc. grew its position in Ciena by 6.4% during the 2nd quarter. Advisor Group Inc. now owns 10,011 shares of the communications equipment provider’s stock worth $151,000 after purchasing an additional 604 shares in the last quarter. Howe & Rusling Inc. purchased a new position in Ciena during the 3rd quarter worth approximately $158,000. First Quadrant L P CA purchased a new position in Ciena during the 3rd quarter worth approximately $183,000. Finally, Koch Industries Inc. purchased a new position in Ciena during the 2nd quarter worth approximately $235,000.

CIEN has been the topic of a number of research analyst reports. Stifel Nicolaus reiterated a “buy” rating and set a $30.00 price objective on shares of Ciena in a research note on Friday, September 1st. Piper Jaffray Companies reiterated a “buy” rating and set a $30.00 price objective on shares of Ciena in a research note on Thursday, August 31st. MKM Partners reiterated a “buy” rating on shares of Ciena in a research note on Thursday, August 31st. B. Riley reiterated a “buy” rating and set a $30.50 price objective on shares of Ciena in a research note on Sunday, September 3rd. Finally, Northland Securities reiterated a “buy” rating and set a $30.00 price objective on shares of Ciena in a research note on Sunday, September 3rd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and nineteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target 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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