Gary B. Smith Sells 8,000 Shares of Ciena (CIEN) Stock

Ciena (NYSE:CIEN) CEO Gary B. Smith sold 8,000 shares of the stock in a transaction that occurred on Wednesday, April 11th. The stock was sold at an average price of $25.73, for a total value of $205,840.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

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On Wednesday, March 28th, Gary B. Smith sold 8,000 shares of Ciena stock. The stock was sold at an average price of $25.79, for a total value of $206,320.00. On Wednesday, March 21st, Gary B. Smith sold 12,948 shares of Ciena stock. The stock was sold at an average price of $26.58, for a total value of $344,157.84. On Thursday, March 15th, Gary B. Smith sold 8,000 shares of Ciena stock. The stock was sold at an average price of $27.16, for a total value of $217,280.00. On Thursday, February 22nd, Gary B. Smith sold 8,000 shares of Ciena stock. The stock was sold at an average price of $23.23, for a total value of $185,840.00. On Friday, February 9th, Gary B. Smith sold 8,000 shares of Ciena stock. The stock was sold at an average price of $22.46, for a total value of $179,680.00. On Wednesday, January 24th, Gary B. Smith sold 8,000 shares of Ciena stock. The stock was sold at an average price of $21.85, for a total value of $174,800.00. On Friday, January 12th, Gary B. Smith sold 8,000 shares of Ciena stock. The stock was sold at an average price of $21.86, for a total value of $174,880.00.

NYSE CIEN traded down $0.02 during mid-day trading on Thursday, hitting $25.76. The stock had a trading volume of 3,463,767 shares, compared to its average volume of 3,247,127. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.06 and a quick ratio of 1.79. The company has a market capitalization of $3,710.45, a P/E ratio of 17.29, a PEG ratio of 1.54 and a beta of 1.38. Ciena has a 52-week low of $19.40 and a 52-week high of $27.98.

Ciena (NYSE:CIEN) last released its quarterly earnings results on Tuesday, March 6th. The communications equipment provider reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.08. The company had revenue of $646.14 million during the quarter, compared to the consensus estimate of $641.77 million. Ciena had a return on equity of 14.10% and a net margin of 27.76%. Ciena’s revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.17 earnings per share. research analysts expect that Ciena will post 1.08 earnings per share for the current fiscal year.

Several analysts have recently commented on CIEN shares. Goldman Sachs raised Ciena from a “neutral” rating to a “buy” rating and set a $27.00 price target for the company in a report on Monday, January 15th. Zacks Investment Research raised Ciena from a “sell” rating to a “hold” rating in a report on Monday, February 12th. BMO Capital Markets reissued a “buy” rating and issued a $25.00 price target on shares of Ciena in a report on Monday, March 5th. Piper Jaffray reissued a “neutral” rating and issued a $27.00 price target (up from $22.00) on shares of Ciena in a report on Tuesday, March 6th. Finally, Stifel Nicolaus raised their price target on Ciena from $28.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, March 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. Ciena presently has an average rating of “Buy” and an average target price of $29.91.

A number of institutional investors have recently added to or reduced their stakes in the business. Neuberger Berman Group LLC increased its position in Ciena by 169.5% during the third quarter. Neuberger Berman Group LLC now owns 4,217,455 shares of the communications equipment provider’s stock worth $92,657,000 after buying an additional 2,652,791 shares in the last quarter. Millennium Management LLC increased its position in Ciena by 431.6% during the fourth quarter. Millennium Management LLC now owns 2,477,957 shares of the communications equipment provider’s stock worth $51,864,000 after buying an additional 2,011,805 shares in the last quarter. Maverick Capital Ltd. purchased a new position in Ciena during the fourth quarter worth $50,962,000. Renaissance Technologies LLC purchased a new position in Ciena during the fourth quarter worth $40,110,000. Finally, Rubric Capital Management LP purchased a new position in Ciena during the third quarter worth $33,373,000.

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About Ciena

Ciena Corporation provides hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of voice, video, and data traffic on communications networks worldwide. The company's Networking Platforms segment offers hardware networking solutions optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching.

Insider Buying and Selling by Quarter for Ciena (NYSE:CIEN)

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