Key Points
- CEO Gary Smith sold 6,800 shares on Dec. 3 at an average price of $192.61 for about $1.31 million, reducing his stake by 2.6% to 254,870 shares, as disclosed in an SEC filing.
- Ciena shares opened around $201, sit near a 52-week high of $214.17, and carry a market cap of about $28.4 billion with a high trailing P/E of ~207.6.
- The company reported $0.47 EPS on $844.4 million in revenue last quarter; analysts expect roughly 1.6 EPS for the fiscal year and give Ciena a consensus rating of Moderate Buy with a $163.53 target.
Ciena Corporation (NYSE:CIEN - Get Free Report) CEO Gary Smith sold 6,800 shares of the firm's stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $192.61, for a total value of $1,309,748.00. Following the sale, the chief executive officer owned 254,870 shares in the company, valued at approximately $49,090,510.70. The trade was a 2.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Ciena Stock Up 2.9%
NYSE CIEN opened at $201.33 on Friday. The company has a quick ratio of 2.52, a current ratio of 3.28 and a debt-to-equity ratio of 0.55. Ciena Corporation has a fifty-two week low of $49.21 and a fifty-two week high of $214.17. The business has a 50 day moving average price of $181.14 and a two-hundred day moving average price of $123.59. The stock has a market cap of $28.40 billion, a PE ratio of 207.56, a P/E/G ratio of 1.23 and a beta of 1.17.
Ciena (NYSE:CIEN - Get Free Report) last posted its earnings results on Thursday, April 6th. The communications equipment provider reported $0.47 EPS for the quarter. The business had revenue of $844.44 million for the quarter. Ciena had a net margin of 3.10% and a return on equity of 6.62%. As a group, sell-side analysts predict that Ciena Corporation will post 1.6 EPS for the current fiscal year.
Institutional Trading of Ciena
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Allworth Financial LP lifted its holdings in Ciena by 94.3% in the third quarter. Allworth Financial LP now owns 1,395 shares of the communications equipment provider's stock worth $203,000 after acquiring an additional 677 shares during the last quarter. IFP Advisors Inc raised its position in shares of Ciena by 93.1% during the 3rd quarter. IFP Advisors Inc now owns 977 shares of the communications equipment provider's stock worth $145,000 after purchasing an additional 471 shares during the period. Swiss Life Asset Management Ltd raised its position in shares of Ciena by 80.2% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 6,635 shares of the communications equipment provider's stock worth $967,000 after purchasing an additional 2,954 shares during the period. WBI Investments LLC bought a new stake in shares of Ciena in the 3rd quarter worth approximately $458,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in Ciena during the 3rd quarter valued at approximately $157,000. 91.99% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on CIEN shares. UBS Group upped their price objective on shares of Ciena from $78.00 to $120.00 and gave the company a "neutral" rating in a research report on Friday, September 5th. Zacks Research cut Ciena from a "strong-buy" rating to a "hold" rating in a research note on Monday, November 24th. Weiss Ratings reissued a "hold (c)" rating on shares of Ciena in a report on Wednesday, October 8th. BNP Paribas set a $185.00 price objective on Ciena and gave the stock an "outperform" rating in a report on Monday, October 13th. Finally, Wall Street Zen lowered Ciena from a "strong-buy" rating to a "buy" rating in a research report on Saturday, November 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Ciena presently has an average rating of "Moderate Buy" and a consensus target price of $163.53.
Check Out Our Latest Stock Analysis on Ciena
About Ciena
(
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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