Gary B. Smith Sells 8,000 Shares of Ciena Corporation (NYSE:CIEN) Stock

Ciena Corporation (NYSE:CIEN) CEO Gary B. Smith sold 8,000 shares of the stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $21.38, for a total value of $171,040.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Gary B. Smith also recently made the following trade(s):

  • On Thursday, December 27th, Gary B. Smith sold 4,000 shares of Ciena stock. The stock was sold at an average price of $21.66, for a total value of $86,640.00.
  • On Thursday, December 28th, Gary B. Smith sold 8,000 shares of Ciena stock. The stock was sold at an average price of $21.47, for a total value of $171,760.00.
  • On Thursday, December 21st, Gary B. Smith sold 113,735 shares of Ciena stock. The stock was sold at an average price of $21.22, for a total value of $2,413,456.70.
  • On Tuesday, November 21st, Gary B. Smith sold 10,000 shares of Ciena stock. The stock was sold at an average price of $20.55, for a total value of $205,500.00.
  • On Thursday, November 9th, Gary B. Smith sold 6,000 shares of Ciena stock. The stock was sold at an average price of $20.09, for a total value of $120,540.00.
  • On Tuesday, October 24th, Gary B. Smith sold 8,000 shares of Ciena stock. The stock was sold at an average price of $22.12, for a total value of $176,960.00.
  • On Wednesday, September 27th, Gary B. Smith sold 4,000 shares of Ciena stock. The stock was sold at an average price of $21.99, for a total value of $87,960.00.
  • On Thursday, September 28th, Gary B. Smith sold 8,000 shares of Ciena stock. The stock was sold at an average price of $22.03, for a total value of $176,240.00.
  • On Thursday, September 21st, Gary B. Smith sold 12,634 shares of Ciena stock. The stock was sold at an average price of $21.25, for a total value of $268,472.50.

Ciena Corporation (NYSE:CIEN) traded up $0.06 during trading hours on Friday, reaching $21.94. The company had a trading volume of 1,866,200 shares, compared to its average volume of 3,380,000. The stock has a market cap of $3,150.00, a P/E ratio of 3.17, a PEG ratio of 1.37 and a beta of 1.67. The company has a quick ratio of 1.68, a current ratio of 1.93 and a debt-to-equity ratio of 0.27. Ciena Corporation has a 12-month low of $19.40 and a 12-month high of $27.98.

Ciena (NYSE:CIEN) last released its quarterly earnings results on Thursday, December 7th. The communications equipment provider reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.04). Ciena had a return on equity of 18.32% and a net margin of 45.04%. The firm had revenue of $744.40 million for the quarter, compared to analysts’ expectations of $736.91 million. During the same quarter in the prior year, the business earned $0.44 EPS. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. equities research analysts predict that Ciena Corporation will post 1 EPS for the current fiscal year.

Ciena announced that its board has authorized a share repurchase program on Thursday, December 7th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the communications equipment provider to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

A number of research analysts have recently commented on the company. Needham & Company LLC dropped their price objective on Ciena from $26.00 to $24.00 and set a “buy” rating on the stock in a report on Friday, December 8th. BMO Capital Markets reiterated a “buy” rating on shares of Ciena in a report on Friday, October 27th. Stifel Nicolaus reiterated a “buy” rating on shares of Ciena in a report on Friday, November 3rd. Bank of America upgraded Ciena from a “neutral” rating to a “buy” rating and increased their price objective for the company from $20.98 to $28.00 in a report on Monday, November 27th. Finally, Raymond James Financial set a $33.00 price objective on Ciena and gave the company a “buy” rating in a report on Thursday, December 7th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $28.48.

Institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Ciena by 11.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,085 shares of the communications equipment provider’s stock worth $127,000 after acquiring an additional 517 shares during the period. Fortaleza Asset Management Inc. acquired a new stake in Ciena during the 2nd quarter worth approximately $134,000. Advisor Group Inc. lifted its holdings in shares of Ciena by 6.4% in the 2nd quarter. Advisor Group Inc. now owns 10,011 shares of the communications equipment provider’s stock valued at $151,000 after buying an additional 604 shares during the period. Howe & Rusling Inc. acquired a new stake in shares of Ciena in the 3rd quarter valued at approximately $158,000. Finally, First Quadrant L P CA acquired a new stake in shares of Ciena in the 3rd quarter valued at approximately $183,000.

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About Ciena

Ciena Corporation is a network strategy and technology company, which provides solutions that enable a range of network operators to adopt communication architectures and deliver an array of services, relied upon by enterprise and consumer end users. It provides equipment, software and services that support the transport, switching, aggregation, service delivery and management of voice, video and data traffic on communications networks.

Insider Buying and Selling by Quarter for Ciena (NYSE:CIEN)

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