Key Points
- CEO Gary Smith sold 2,952 Ciena shares on May 1 under a pre-arranged Rule 10b5-1 plan for about $1.59M, cutting his position by 1.06% to 275,461 shares (≈$148.13M post-sale).
- Ciena beat expectations last quarter with EPS $1.35 vs. $1.17 and revenue of $1.43B (+33.1% YoY); the stock trades near a 12‑month high (~$538) with a market cap of roughly $76.1B and a P/E around 343.
- Institutional investors own about 91.99% of the stock, while analysts hold a consensus "Moderate Buy" rating with a $358.94 price target—below the current trading level.
Ciena Corporation (NYSE:CIEN - Get Free Report) CEO Gary Smith sold 2,952 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $537.74, for a total transaction of $1,587,408.48. Following the completion of the sale, the chief executive officer owned 275,461 shares of the company's stock, valued at approximately $148,126,398.14. The trade was a 1.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Ciena Trading Up 0.5%
Shares of NYSE:CIEN opened at $537.95 on Tuesday. The firm has a fifty day moving average of $414.44 and a two-hundred day moving average of $291.20. The company has a quick ratio of 2.14, a current ratio of 2.81 and a debt-to-equity ratio of 0.55. Ciena Corporation has a 12-month low of $70.67 and a 12-month high of $550.00. The firm has a market capitalization of $76.07 billion, a P/E ratio of 342.65, a price-to-earnings-growth ratio of 1.76 and a beta of 1.24.
Ciena (NYSE:CIEN - Get Free Report) last posted its quarterly earnings results on Thursday, March 5th. The communications equipment provider reported $1.35 earnings per share for the quarter, topping analysts' consensus estimates of $1.17 by $0.18. Ciena had a net margin of 4.47% and a return on equity of 12.09%. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the prior year, the business posted $0.64 earnings per share. Ciena's revenue for the quarter was up 33.1% compared to the same quarter last year. On average, equities analysts expect that Ciena Corporation will post 5.1 EPS for the current fiscal year.
Institutional Trading of Ciena
Several large investors have recently made changes to their positions in the stock. Elyxium Wealth LLC acquired a new position in shares of Ciena during the 4th quarter valued at about $2,747,810,000. Corient Private Wealth LLC lifted its holdings in Ciena by 30,114.5% in the 4th quarter. Corient Private Wealth LLC now owns 2,870,677 shares of the communications equipment provider's stock worth $671,365,000 after purchasing an additional 2,861,176 shares during the last quarter. Lone Pine Capital LLC bought a new stake in Ciena during the third quarter worth approximately $292,310,000. Price T Rowe Associates Inc. MD boosted its position in Ciena by 53.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,051,625 shares of the communications equipment provider's stock worth $947,554,000 after purchasing an additional 1,404,132 shares during the period. Finally, Atreides Management LP acquired a new position in Ciena during the second quarter valued at approximately $102,705,000. Institutional investors own 91.99% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on CIEN. Citigroup raised their price target on Ciena from $280.00 to $345.00 and gave the stock a "buy" rating in a research note on Friday, March 6th. Bank of America increased their price objective on Ciena from $355.00 to $550.00 and gave the stock a "buy" rating in a report on Thursday, April 16th. Morgan Stanley raised their price objective on shares of Ciena from $286.00 to $405.00 and gave the company an "equal weight" rating in a research report on Monday, April 20th. B. Riley Financial lifted their target price on shares of Ciena from $222.00 to $283.00 and gave the company a "neutral" rating in a research note on Friday, March 6th. Finally, Stifel Nicolaus boosted their target price on shares of Ciena from $320.00 to $430.00 and gave the stock a "buy" rating in a research report on Monday, March 23rd. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $358.94.
Read Our Latest Report on CIEN
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.
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