Ciena Co. (NYSE:CIEN - Get Free Report) SVP Brodie Gage sold 533 shares of Ciena stock in a transaction on Monday, April 1st. The stock was sold at an average price of $49.61, for a total transaction of $26,442.13. Following the completion of the transaction, the senior vice president now owns 41,372 shares in the company, valued at approximately $2,052,464.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Ciena Price Performance
Shares of Ciena stock opened at $48.62 on Thursday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 3.12 and a current ratio of 4.29. The firm's 50-day simple moving average is $53.74 and its 200-day simple moving average is $48.28. Ciena Co. has a twelve month low of $39.94 and a twelve month high of $63.24. The firm has a market cap of $7.03 billion, a P/E ratio of 31.57, a price-to-earnings-growth ratio of 2.14 and a beta of 0.99.
Ciena (NYSE:CIEN - Get Free Report) last issued its earnings results on Thursday, March 7th. The communications equipment provider reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.18. Ciena had a net margin of 5.22% and a return on equity of 9.92%. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the business earned $0.48 EPS. The firm's revenue was down 1.8% on a year-over-year basis. As a group, research analysts expect that Ciena Co. will post 1.53 EPS for the current fiscal year.
Hedge Funds Weigh In On Ciena
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A number of institutional investors and hedge funds have recently added to or reduced their stakes in CIEN. Raymond James Financial Services Advisors Inc. boosted its position in Ciena by 0.9% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 28,651 shares of the communications equipment provider's stock valued at $1,737,000 after buying an additional 252 shares in the last quarter. American Century Companies Inc. boosted its position in Ciena by 11.0% in the first quarter. American Century Companies Inc. now owns 17,204 shares of the communications equipment provider's stock valued at $1,043,000 after buying an additional 1,708 shares in the last quarter. Bank of Montreal Can boosted its position in Ciena by 0.6% in the first quarter. Bank of Montreal Can now owns 36,296 shares of the communications equipment provider's stock valued at $2,227,000 after buying an additional 220 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Ciena by 2.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,753,752 shares of the communications equipment provider's stock worth $106,335,000 after acquiring an additional 41,815 shares during the last quarter. Finally, Vontobel Holding Ltd. raised its stake in shares of Ciena by 40.6% in the first quarter. Vontobel Holding Ltd. now owns 19,106 shares of the communications equipment provider's stock worth $1,172,000 after acquiring an additional 5,516 shares during the last quarter. 91.99% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
CIEN has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Ciena from $56.00 to $67.00 and gave the stock an "overweight" rating in a report on Tuesday, March 5th. StockNews.com upgraded shares of Ciena from a "sell" rating to a "hold" rating in a research report on Friday, March 8th. Raymond James decreased their price target on shares of Ciena from $63.00 to $60.00 and set a "strong-buy" rating on the stock in a research report on Friday, December 8th. B. Riley raised their price target on shares of Ciena from $67.00 to $68.00 and gave the stock a "buy" rating in a research report on Friday, December 8th. Finally, Needham & Company LLC raised their price target on shares of Ciena from $60.00 to $65.00 and gave the stock a "buy" rating in a research report on Monday, March 4th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $60.17.
Read Our Latest Stock Report on CIEN
Ciena Company Profile
(
Get Free Report)
Ciena Corporation provides hardware and software services for delivery of video, data, and voice traffic metro, aggregation, and access communications network worldwide. The company's Networking Platforms segment offers convergence of coherent optical transport, open optical networking, optical transport network switching, IP routing, and switching services.
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