Key Points
- CEO Gary Smith sold 2,952 shares on Feb. 17 at an average of $299.51, totaling $884,153.52, trimming his stake by 0.98% to 298,988 shares (≈$89.55M).
- Q‑quarter results beat expectations: Ciena reported $0.91 EPS vs. $0.76 est. and revenue of $1.35 billion, a 20.1% year‑over‑year increase.
- Shares recently traded as high as $336.27; the company has a market cap of $47.57B, a high P/E (~397), and a consensus rating of "Moderate Buy" with an average target of about $247.67.
Ciena Corporation (NYSE:CIEN - Get Free Report) CEO Gary Smith sold 2,952 shares of the company's stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $299.51, for a total value of $884,153.52. Following the completion of the sale, the chief executive officer owned 298,988 shares in the company, valued at approximately $89,549,895.88. This represents a 0.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Ciena Stock Performance
NYSE CIEN traded up $17.86 on Friday, hitting $336.27. 1,022,800 shares of the company's stock traded hands, compared to its average volume of 3,561,027. The firm's 50-day moving average price is $250.80 and its two-hundred day moving average price is $186.59. The firm has a market capitalization of $47.57 billion, a PE ratio of 397.27, a P/E/G ratio of 1.75 and a beta of 1.13. The company has a current ratio of 2.73, a quick ratio of 2.09 and a debt-to-equity ratio of 0.56. Ciena Corporation has a 1-year low of $49.21 and a 1-year high of $340.27.
Ciena (NYSE:CIEN - Get Free Report) last posted its earnings results on Thursday, December 11th. The communications equipment provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.15. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.29 billion. Ciena had a net margin of 2.59% and a return on equity of 8.38%. The business's quarterly revenue was up 20.1% on a year-over-year basis. During the same period in the previous year, the firm earned $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 several recent analyst reports. Needham & Company LLC increased their price objective on shares of Ciena to $280.00 and gave the company a "buy" rating in a report on Thursday, December 11th. Citigroup raised their price objective on Ciena to $280.00 and gave the company a "buy" rating in a report on Friday, December 12th. Raymond James Financial set a $240.00 target price on shares of Ciena in a research report on Thursday, December 11th. B. Riley Financial reaffirmed a "neutral" rating on shares of Ciena in a report on Friday, December 12th. Finally, Bank of America reissued a "neutral" rating and issued a $260.00 price objective on shares of Ciena in a report on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, Ciena currently has a consensus rating of "Moderate Buy" and an average target price of $247.67.
Read Our Latest Research Report on CIEN
Institutional Trading of Ciena
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Lecap Asset Management Ltd. purchased a new position in shares of Ciena in the 3rd quarter valued at about $1,993,000. Convergence Investment Partners LLC purchased a new position in Ciena in the third quarter valued at about $1,726,000. World Investment Advisors acquired a new stake in shares of Ciena during the 2nd quarter valued at approximately $253,000. JPMorgan Chase & Co. grew its holdings in shares of Ciena by 7.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,243,053 shares of the communications equipment provider's stock worth $426,420,000 after acquiring an additional 359,579 shares during the period. Finally, New York State Common Retirement Fund increased its stake in Ciena by 38.7% in the 3rd quarter. New York State Common Retirement Fund now owns 112,011 shares of the communications equipment provider's stock valued at $16,317,000 after purchasing an additional 31,225 shares in the last quarter. 91.99% of the stock is currently owned by hedge funds and other institutional investors.
Ciena Company Profile
(
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.
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