Ciena Corporation (NYSE:CIEN) VP David M. Rothenstein sold 2,000 shares of the stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $22.75, for a total transaction of $45,500.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

  • On Wednesday, November 15th, David M. Rothenstein sold 2,000 shares of Ciena stock. The stock was sold at an average price of $19.50, for a total transaction of $39,000.00.

Shares of Ciena Corporation (NYSE:CIEN) traded down $0.83 on Friday, hitting $22.04. The company had a trading volume of 4,272,500 shares, compared to its average volume of 2,651,142. Ciena Corporation has a 12 month low of $19.40 and a 12 month high of $27.98. The company has a current ratio of 1.93, a quick ratio of 1.68 and a debt-to-equity ratio of 0.27. The company has a market cap of $3,170.00, a PE ratio of 3.18, a P/E/G ratio of 1.46 and a beta of 1.67.

Ciena (NYSE:CIEN) last issued its earnings results on Thursday, December 7th. The communications equipment provider reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.04). Ciena had a return on equity of 18.32% and a net margin of 45.04%. The firm had revenue of $744.40 million during the quarter, compared to the consensus estimate of $736.91 million. During the same quarter in the prior year, the business earned $0.44 earnings per share. Ciena’s revenue for the quarter was up 3.9% on a year-over-year basis. analysts anticipate that Ciena Corporation will post 1 earnings per share for the current fiscal year.

Ciena declared that its Board of Directors has authorized a stock repurchase plan on Thursday, December 7th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the communications equipment provider to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

A number of large investors have recently modified their holdings of CIEN. Prudential Financial Inc. lifted its stake in Ciena by 1.4% during the 2nd quarter. Prudential Financial Inc. now owns 94,559 shares of the communications equipment provider’s stock valued at $2,366,000 after acquiring an additional 1,320 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake 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 valued at $127,000 after acquiring an additional 517 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Ciena by 0.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,690 shares of the communications equipment provider’s stock valued at $518,000 after acquiring an additional 58 shares in the last quarter. Nationwide Fund Advisors lifted its stake in Ciena by 5.8% during the 2nd quarter. Nationwide Fund Advisors now owns 414,182 shares of the communications equipment provider’s stock valued at $10,363,000 after acquiring an additional 22,734 shares in the last quarter. Finally, Amalgamated Bank lifted its stake in Ciena by 7.4% during the 2nd quarter. Amalgamated Bank now owns 20,300 shares of the communications equipment provider’s stock valued at $508,000 after acquiring an additional 1,400 shares in the last quarter.

CIEN has been the subject of several recent analyst reports. Stifel Nicolaus reaffirmed a “buy” rating on shares of Ciena in a research report on Friday, November 3rd. BidaskClub downgraded shares of Ciena from a “sell” rating to a “strong sell” rating in a research report on Saturday, November 4th. Zacks Investment Research downgraded shares of Ciena from a “hold” rating to a “sell” rating in a research report on Tuesday, October 31st. William Blair reaffirmed a “buy” rating on shares of Ciena in a research report on Monday, November 13th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating on shares of Ciena in a research report on Thursday, October 12th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twenty have issued a buy rating to the stock. Ciena has an average rating of “Buy” and a consensus 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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