Ciena Corporation (NYSE:CIEN) VP Andrew C. Petrik sold 1,251 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $21.60, for a total value of $27,021.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Andrew C. Petrik also recently made the following trade(s):

  • On Tuesday, August 15th, Andrew C. Petrik sold 1,258 shares of Ciena Corporation stock. The shares were sold at an average price of $24.44, for a total value of $30,745.52.

Ciena Corporation (NYSE:CIEN) traded up 0.94% during midday trading on Friday, reaching $21.58. The company had a trading volume of 515,049 shares. The company has a 50-day moving average of $23.44 and a 200-day moving average of $24.06. Ciena Corporation has a 12-month low of $18.94 and a 12-month high of $27.98. The stock has a market capitalization of $3.08 billion, a PE ratio of 23.61 and a beta of 1.68.

Ciena Corporation (NYSE:CIEN) last released its earnings results on Thursday, August 31st. The communications equipment provider reported $0.51 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.02. Ciena Corporation had a return on equity of 25.53% and a net margin of 4.99%. The business had revenue of $728.70 million for the quarter, compared to the consensus estimate of $726.81 million. During the same period in the previous year, the company posted $0.42 earnings per share. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, analysts predict that Ciena Corporation will post $1.74 EPS for the current fiscal year.

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A number of institutional investors have recently added to or reduced their stakes in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Ciena Corporation by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,690 shares of the communications equipment provider’s stock worth $518,000 after acquiring an additional 58 shares in the last quarter. Capstone Asset Management Co. raised its stake in shares of Ciena Corporation by 1.3% in the second quarter. Capstone Asset Management Co. now owns 10,490 shares of the communications equipment provider’s stock worth $262,000 after purchasing an additional 130 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Ciena Corporation by 1.9% in the second quarter. Nisa Investment Advisors LLC now owns 10,740 shares of the communications equipment provider’s stock worth $269,000 after purchasing an additional 200 shares during the last quarter. World Asset Management Inc raised its stake in shares of Ciena Corporation by 2.8% in the second quarter. World Asset Management Inc now owns 8,935 shares of the communications equipment provider’s stock worth $224,000 after purchasing an additional 243 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its stake in shares of Ciena Corporation by 2.7% in the second quarter. Teacher Retirement System of Texas now owns 11,289 shares of the communications equipment provider’s stock worth $282,000 after purchasing an additional 300 shares during the last quarter.

Several analysts recently commented on the company. MKM Partners reiterated a “buy” rating and issued a $32.00 target price (up from $30.00) on shares of Ciena Corporation in a report on Friday, June 2nd. Deutsche Bank AG reiterated a “hold” rating and issued a $24.00 target price (up from $23.00) on shares of Ciena Corporation in a report on Saturday, June 3rd. Instinet reiterated a “buy” rating and issued a $30.00 target price (up from $27.00) on shares of Ciena Corporation in a report on Saturday, June 3rd. BMO Capital Markets reiterated an “outperform” rating and issued a $32.00 target price (up from $30.00) on shares of Ciena Corporation in a report on Saturday, June 3rd. Finally, B. Riley reiterated a “buy” rating and issued a $34.00 target price on shares of Ciena Corporation in a report on Sunday, June 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. Ciena Corporation currently has a consensus rating of “Buy” and a consensus target price of $29.79.

About Ciena Corporation

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 Corporation (NYSE:CIEN)

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