Ciena Corporation (NYSE:CIEN) VP David M. Rothenstein sold 2,000 shares of the company’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $22.75, for a total transaction of $45,500.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
David M. Rothenstein also recently made the following trade(s):
- On Wednesday, November 15th, David M. Rothenstein sold 2,000 shares of Ciena stock. The shares were sold at an average price of $19.50, for a total transaction of $39,000.00.
Shares of Ciena Corporation (NYSE CIEN) traded down $0.19 during trading on Friday, reaching $21.85. 3,178,780 shares of the company’s stock were exchanged, compared to its average volume of 2,114,404. The firm has a market capitalization of $3,166.70, a P/E ratio of 2.73, a price-to-earnings-growth ratio of 1.40 and a beta of 1.67. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.93 and a quick ratio of 1.68. Ciena Corporation has a 12-month low of $19.40 and a 12-month high of $27.98.
Ciena (NYSE:CIEN) last announced its quarterly earnings data 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). The firm had revenue of $744.40 million for the quarter, compared to analyst estimates of $736.91 million. Ciena had a return on equity of 18.32% and a net margin of 45.04%. The company’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.44 earnings per share. research analysts forecast that Ciena Corporation will post 1 earnings per share for the current year.
Ciena announced that its board has authorized a share repurchase plan on Thursday, December 7th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the communications equipment provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.
A number of research firms recently commented on CIEN. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 price target (down from $31.00) on shares of Ciena in a research report on Monday, September 25th. Stifel Nicolaus reaffirmed a “buy” rating and set a $30.00 price target on shares of Ciena in a research report on Tuesday, September 26th. MKM Partners reaffirmed a “buy” rating and set a $30.00 price target on shares of Ciena in a research report on Tuesday, September 26th. Piper Jaffray Companies reaffirmed a “buy” rating on shares of Ciena in a research report on Thursday, October 12th. Finally, BidaskClub raised shares of Ciena from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 25th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twenty have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $28.48.
Institutional investors and hedge funds have recently bought and sold shares of the company. Parametric Portfolio Associates LLC boosted its stake in shares of Ciena by 15.9% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 187,277 shares of the communications equipment provider’s stock valued at $4,686,000 after purchasing an additional 25,663 shares in the last quarter. Westfield Capital Management Co. LP raised its holdings in Ciena by 21.5% in the 3rd quarter. Westfield Capital Management Co. LP now owns 2,594,285 shares of the communications equipment provider’s stock valued at $56,996,000 after buying an additional 459,190 shares during the last quarter. Stifel Financial Corp raised its holdings in Ciena by 15.5% in the 3rd quarter. Stifel Financial Corp now owns 70,070 shares of the communications equipment provider’s stock valued at $1,538,000 after buying an additional 9,389 shares during the last quarter. Vanguard Group Inc. raised its holdings in Ciena by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 12,466,282 shares of the communications equipment provider’s stock valued at $311,906,000 after buying an additional 203,112 shares during the last quarter. Finally, State Street Corp raised its holdings in Ciena by 3.9% in the 2nd quarter. State Street Corp now owns 4,648,540 shares of the communications equipment provider’s stock valued at $116,319,000 after buying an additional 172,876 shares during the last quarter.
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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.
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