Key Points
- CEO sale: Ciena CEO Gary Smith sold 6,800 shares on December 22 at an average of $233.46 for $1,587,528, trimming his stake by 1.71% to 391,437 shares valued at about $91.38M.
- EPS beat and analyst response: Ciena reported $0.91 EPS vs. $0.76 expected and revenue of $1.35B (up 20.1% YoY), triggering analyst upgrades and a consensus "Moderate Buy" with an average price target of $237.50.
- Stock snapshot: shares opened at $238.72 (down ~1.2%), near a one‑year high of $248, with a market cap of $33.62B and a high P/E of 280.85.
Ciena Corporation (NYSE:CIEN - Get Free Report) CEO Gary Smith sold 6,800 shares of Ciena stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $233.46, for a total transaction of $1,587,528.00. Following the completion of the transaction, the chief executive officer owned 391,437 shares of the company's stock, valued at $91,384,882.02. This represents a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Ciena Trading Down 1.2%
NYSE:CIEN opened at $238.72 on Tuesday. Ciena Corporation has a 1 year low of $49.21 and a 1 year high of $248.00. The stock's fifty day moving average price is $202.60 and its two-hundred day moving average price is $140.85. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.73 and a quick ratio of 2.09. The company has a market cap of $33.62 billion, a P/E ratio of 280.85, a P/E/G ratio of 1.41 and a beta of 1.17.
Ciena (NYSE:CIEN - Get Free Report) last released its quarterly earnings data on Thursday, December 11th. The communications equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.76 by $0.15. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.29 billion. Ciena had a return on equity of 8.38% and a net margin of 2.59%.The firm's revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.54 EPS. As a group, analysts expect that Ciena Corporation will post 1.6 EPS for the current year.
Analyst Ratings Changes
CIEN has been the topic of a number of analyst reports. UBS Group upped their target price on shares of Ciena from $120.00 to $230.00 and gave the stock a "neutral" rating in a report on Friday, December 12th. Citigroup upped their price target on shares of Ciena to $280.00 and gave the stock a "buy" rating in a report on Friday, December 12th. Evercore ISI set a $240.00 price objective on Ciena in a research note on Thursday, December 11th. BNP Paribas set a $185.00 target price on Ciena and gave the stock an "outperform" rating in a research report on Monday, October 13th. Finally, Northland Securities set a $190.00 price target on Ciena and gave the company a "market perform" rating in a report on Friday, December 12th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $237.50.
Get Our Latest Stock Report on Ciena
Institutional Investors Weigh In On Ciena
A number of large investors have recently added to or reduced their stakes in CIEN. Community Bank N.A. bought a new stake in Ciena during the third quarter worth about $25,000. Mather Group LLC. bought a new stake in Ciena in the 3rd quarter worth approximately $28,000. Assetmark Inc. boosted its stake in Ciena by 50.4% in the third quarter. Assetmark Inc. now owns 200 shares of the communications equipment provider's stock worth $29,000 after buying an additional 67 shares in the last quarter. Ameritas Advisory Services LLC grew its position in Ciena by 104.0% during the third quarter. Ameritas Advisory Services LLC now owns 204 shares of the communications equipment provider's stock valued at $30,000 after acquiring an additional 104 shares during the last quarter. Finally, Salomon & Ludwin LLC purchased a new position in shares of Ciena during the third quarter worth approximately $31,000. Hedge funds and other institutional investors own 91.99% of the company's stock.
About Ciena
(
Get Free Report)
Ciena Corporation (NYSE: CIEN) is a global supplier of telecommunications networking equipment, software and services. The company develops high-capacity optical transport systems and packet-optical platforms that enable service providers, cloud operators and large enterprises to build, manage and scale their networks. Ciena's product portfolio includes coherent optical solutions, packet networking platforms and a suite of network automation software designed to optimize bandwidth, reduce latency and simplify network operations.
In addition to hardware offerings, Ciena provides professional services and support, including network design, implementation and ongoing maintenance.
Further Reading
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