Ciena Corporation (NYSE:CIEN - Get Free Report) CEO Gary Smith sold 6,800 shares of the company's stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $190.45, for a total value of $1,295,060.00. Following the sale, the chief executive officer owned 268,470 shares of the company's stock, valued at approximately $51,130,111.50. The trade was a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Ciena Trading Up 7.1%
Shares of NYSE:CIEN traded up $13.05 during trading on Wednesday, reaching $195.92. 2,772,525 shares of the stock were exchanged, compared to its average volume of 2,380,680. The firm has a market cap of $27.64 billion, a price-to-earnings ratio of 201.98, a price-to-earnings-growth ratio of 2.62 and a beta of 1.15. 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 Corporation has a 12-month low of $49.21 and a 12-month high of $196.99. The firm's 50-day moving average price is $147.10 and its 200 day moving average price is $104.09.
Ciena (NYSE:CIEN - Get Free Report) last released its quarterly earnings data 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 company had revenue of $844.44 million during the quarter. On average, sell-side analysts anticipate that Ciena Corporation will post 1.6 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Ciena
Institutional investors and hedge funds have recently made changes to their positions in the company. Global Retirement Partners LLC lifted its holdings in shares of Ciena by 11.1% in the 3rd quarter. Global Retirement Partners LLC now owns 698 shares of the communications equipment provider's stock worth $102,000 after purchasing an additional 70 shares during the last quarter. Nisa Investment Advisors LLC raised 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 buying an additional 80 shares in the last quarter. GAMMA Investing LLC lifted its position in Ciena by 2.3% in 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. Fifth Third Wealth Advisors LLC boosted its stake in Ciena by 2.3% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 4,889 shares of the communications equipment provider's stock valued at $712,000 after purchasing an additional 112 shares in the last quarter. Finally, Nwam LLC boosted its stake in Ciena by 4.7% during the third quarter. Nwam LLC now owns 2,505 shares of the communications equipment provider's stock valued at $404,000 after buying an additional 113 shares in the last quarter. 91.99% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
CIEN has been the topic of several recent research reports. Barclays boosted their price target on Ciena from $102.00 to $138.00 and gave the stock an "overweight" rating in a research report on Friday, September 5th. Weiss Ratings reissued a "hold (c)" rating on shares of Ciena in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Ciena from a "hold" rating to a "buy" rating in a research note on Friday, September 5th. Rosenblatt Securities raised shares of Ciena from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $127.50 to $175.00 in a research note on Friday, September 26th. Finally, BNP Paribas Exane upgraded shares of Ciena from a "neutral" rating to an "outperform" rating and set a $185.00 price objective on the stock in a report on Monday, October 13th. Three analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $137.53.
View Our Latest Stock Report on CIEN
About Ciena
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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.
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