Ciena Corporation (NYSE:CIEN - Get Free Report) CFO Marc Graff sold 126 shares of the firm's stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $466.20, for a total transaction of $58,741.20. Following the completion of the transaction, the chief financial officer directly owned 126,955 shares in the company, valued at $59,186,421. This trade represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Ciena Trading Down 3.8%
NYSE:CIEN opened at $417.25 on Tuesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.73 and a quick ratio of 2.11. The firm has a 50-day moving average of $512.19 and a 200-day moving average of $392.42. The company has a market cap of $59.06 billion, a PE ratio of 140.50 and a beta of 1.27. Ciena Corporation has a one year low of $76.89 and a one year high of $637.51.
Ciena (NYSE:CIEN - Get Free Report) last posted its earnings results on Thursday, June 4th. The communications equipment provider reported $1.64 earnings per share for the quarter, topping analysts' consensus estimates of $1.46 by $0.18. Ciena had a net margin of 7.87% and a return on equity of 18.15%. The company had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the business posted $0.42 EPS. The firm's revenue was up 39.5% compared to the same quarter last year. As a group, equities research analysts expect that Ciena Corporation will post 5.4 EPS for the current fiscal year.
Ciena News Roundup
Here are the key news stories impacting Ciena this week:
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on CIEN. Weiss Ratings lowered Ciena from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, June 23rd. TD Cowen increased their price target on Ciena from $425.00 to $675.00 and gave the company a "buy" rating in a research report on Friday, May 15th. Zacks Research lowered Ciena from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, June 3rd. Barclays raised their price objective on Ciena from $372.00 to $607.00 and gave the company an "overweight" rating in a research note on Friday, June 5th. Finally, Rothschild & Co Redburn began coverage on shares of Ciena in a research note on Friday, May 1st. They issued a "neutral" rating and a $416.00 target price for the company. Thirteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $530.56.
Get Our Latest Stock Report on Ciena
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of CIEN. Community Bank N.A. bought a new stake in shares of Ciena during the 3rd quarter worth $25,000. Transamerica Financial Advisors LLC increased its holdings in Ciena by 71.0% during the fourth quarter. Transamerica Financial Advisors LLC now owns 106 shares of the communications equipment provider's stock worth $25,000 after buying an additional 44 shares during the last quarter. Asset Dedication LLC increased its holdings in Ciena by 2,100.0% during the first quarter. Asset Dedication LLC now owns 88 shares of the communications equipment provider's stock worth $34,000 after buying an additional 84 shares during the last quarter. Hilltop National Bank bought a new stake in Ciena in the fourth quarter worth about $35,000. Finally, Truvestments Capital LLC raised its position in Ciena by 45.3% in the fourth quarter. Truvestments Capital LLC now owns 154 shares of the communications equipment provider's stock worth $36,000 after acquiring an additional 48 shares during the period. 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.
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