Ciena Corporation (NYSE:CIEN - Get Free Report) CEO Gary Smith sold 6,800 shares of the firm's stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $170.25, for a total transaction of $1,157,700.00. Following the completion of the sale, the chief executive officer owned 275,270 shares of the company's stock, valued at $46,864,717.50. This trade represents a 2.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Ciena Stock Performance
NYSE:CIEN traded up $0.59 during mid-day trading on Friday, hitting $171.37. The stock had a trading volume of 1,962,993 shares, compared to its average volume of 2,386,660. Ciena Corporation has a twelve month low of $49.21 and a twelve month high of $176.88. The stock has a market cap of $24.17 billion, a price-to-earnings ratio of 176.67, a PEG ratio of 2.33 and a beta of 1.15. The company's 50 day simple moving average is $124.14 and its 200 day simple moving average is $92.29. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.52 and a current ratio of 3.28.
Ciena (NYSE:CIEN - Get Free Report) last issued its earnings results on Thursday, April 6th. The communications equipment provider reported $0.47 earnings per share (EPS) for the quarter. Ciena had a net margin of 3.10% and a return on equity of 6.62%. The business had revenue of $844.44 million during the quarter. On average, equities research analysts forecast that Ciena Corporation will post 1.6 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on CIEN. BNP Paribas Exane upgraded shares of Ciena from a "neutral" rating to an "outperform" rating and set a $185.00 target price for the company in a research note on Monday. Northland Securities set a $100.00 price objective on shares of Ciena in a research report on Monday, June 30th. Zacks Research upgraded shares of Ciena from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, September 9th. Bank of America raised their price objective on shares of Ciena from $135.00 to $155.00 and gave the stock a "buy" rating in a research report on Wednesday, September 17th. Finally, Needham & Company LLC raised their price objective on shares of Ciena from $90.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Three research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, Ciena presently has a consensus rating of "Moderate Buy" and an average target price of $137.53.
View Our Latest Research Report on CIEN
Institutional Investors Weigh In On Ciena
Hedge funds and other institutional investors have recently made changes to their positions in the business. Bessemer Group Inc. raised its position in shares of Ciena by 50.0% in the first quarter. Bessemer Group Inc. now owns 534 shares of the communications equipment provider's stock valued at $32,000 after buying an additional 178 shares in the last quarter. Bayforest Capital Ltd raised its position in shares of Ciena by 34.7% in the first quarter. Bayforest Capital Ltd now owns 636 shares of the communications equipment provider's stock valued at $38,000 after buying an additional 164 shares in the last quarter. Allworth Financial LP raised its position in shares of Ciena by 107.5% in the second quarter. Allworth Financial LP now owns 718 shares of the communications equipment provider's stock valued at $58,000 after buying an additional 372 shares in the last quarter. National Bank of Canada FI raised its position in shares of Ciena by 15.4% in the first quarter. National Bank of Canada FI now owns 1,147 shares of the communications equipment provider's stock valued at $69,000 after buying an additional 153 shares in the last quarter. Finally, Fifth Third Bancorp increased its stake in Ciena by 30.8% in the first quarter. Fifth Third Bancorp now owns 1,490 shares of the communications equipment provider's stock valued at $90,000 after acquiring an additional 351 shares during the last quarter. 91.99% of the stock is currently owned by institutional investors and hedge funds.
Ciena Company Profile
(
Get Free Report)
Ciena Corporation provides hardware and software services for delivery of video, data, and voice traffic metro, aggregation, and access communications network worldwide. The company's Networking Platforms segment offers convergence of coherent optical transport, open optical networking, optical transport network switching, IP routing, and switching services.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Ciena, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ciena wasn't on the list.
While Ciena currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of ten stocks that are set to soar in Fall 2025, despite the threat of tariffs and other economic uncertainty. These ten stocks are incredibly resilient and are likely to thrive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
