Key Points
- CEO Gary Smith sold 83,552 shares on Jan. 5 at an average price of $229.44 for about $19.17M, cutting his stake by 21.34% to 307,885 shares valued near $70.6M per the SEC filing.
- Ciena beat Q1 estimates with EPS of $0.91 vs. $0.76 and revenue of $1.35B (up 20.1% YoY), and shares jumped roughly 10% on upbeat AI/cloud demand and stronger guidance.
- Analysts are largely positive—Barclays raised its target to $279 and Zacks upgraded to a "strong-buy"—but some coverage flags valuation concerns after the recent multi‑month rally (average target ~$237.50, consensus "Moderate Buy").
Ciena Corporation (NYSE:CIEN - Get Free Report) CEO Gary Smith sold 83,552 shares of the firm's stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $229.44, for a total value of $19,170,170.88. Following the completion of the transaction, the chief executive officer owned 307,885 shares of the company's stock, valued at approximately $70,641,134.40. This represents a 21.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Ciena Trading Up 10.1%
Shares of Ciena stock opened at $254.12 on Wednesday. The stock has a market cap of $35.79 billion, a P/E ratio of 298.97, a P/E/G ratio of 1.28 and a beta of 1.13. The company has a quick ratio of 2.09, a current ratio of 2.73 and a debt-to-equity ratio of 0.56. Ciena Corporation has a 12-month low of $49.21 and a 12-month high of $254.82. The business's 50 day moving average is $210.30 and its 200-day moving average is $147.85.
Ciena (NYSE:CIEN - Get Free Report) last issued its earnings results on Thursday, December 11th. The communications equipment provider reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.76 by $0.15. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.29 billion. Ciena had a net margin of 2.59% and a return on equity of 8.38%. The firm's revenue for the quarter was up 20.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.54 earnings per share. Equities research analysts predict that Ciena Corporation will post 1.6 earnings per share for the current fiscal year.
Key Ciena News
Here are the key news stories impacting Ciena this week:
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in the company. Assetmark Inc. boosted its position in shares of Ciena by 50.4% in the third quarter. Assetmark Inc. now owns 200 shares of the communications equipment provider's stock valued at $29,000 after acquiring an additional 67 shares during the period. Global Retirement Partners LLC boosted its holdings in Ciena by 11.1% in the 3rd quarter. Global Retirement Partners LLC now owns 698 shares of the communications equipment provider's stock valued at $102,000 after purchasing an additional 70 shares during the period. Coldstream Capital Management Inc. grew its position in shares of Ciena by 1.7% during the 3rd quarter. Coldstream Capital Management Inc. now owns 4,772 shares of the communications equipment provider's stock worth $695,000 after purchasing an additional 79 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of Ciena by 1.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 6,475 shares of the communications equipment provider's stock worth $943,000 after purchasing an additional 80 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Ciena by 2.3% during the third quarter. GAMMA Investing LLC now owns 4,071 shares of the communications equipment provider's stock worth $593,000 after purchasing an additional 92 shares during the period. Institutional investors own 91.99% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on CIEN shares. B. Riley reiterated a "neutral" rating on shares of Ciena in a report on Friday, December 12th. Zacks Research upgraded Ciena from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, December 23rd. Barclays boosted their target price on Ciena from $138.00 to $279.00 and gave the stock an "overweight" rating in a report on Friday, December 12th. Stifel Nicolaus set a $270.00 price target on Ciena in a report on Thursday, December 11th. Finally, Northland Securities set a $190.00 price objective on shares of Ciena and gave the company a "market perform" rating in a report on Friday, December 12th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $237.50.
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Ciena Company Profile
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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.
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