Ciena Corporation (NYSE:CIEN) SVP James E. Moylan, Jr. sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $21.54, for a total transaction of $43,080.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

James E. Moylan, Jr. also recently made the following trade(s):

  • On Thursday, November 30th, James E. Moylan, Jr. sold 2,000 shares of Ciena stock. The shares were sold at an average price of $21.46, for a total transaction of $42,920.00.
  • On Thursday, November 2nd, James E. Moylan, Jr. sold 2,000 shares of Ciena stock. The shares were sold at an average price of $20.46, for a total transaction of $40,920.00.
  • On Thursday, October 19th, James E. Moylan, Jr. sold 2,000 shares of Ciena stock. The shares were sold at an average price of $21.10, for a total transaction of $42,200.00.
  • On Thursday, September 21st, James E. Moylan, Jr. sold 2,000 shares of Ciena stock. The shares were sold at an average price of $21.25, for a total transaction of $42,500.00.
  • On Thursday, September 21st, James E. Moylan, Jr. sold 3,053 shares of Ciena stock. The shares were sold at an average price of $21.25, for a total transaction of $64,876.25.

Shares of Ciena Corporation (NYSE CIEN) traded up $0.08 during trading hours on Friday, reaching $21.33. 3,290,323 shares of the company traded hands, compared to its average volume of 3,597,662. Ciena Corporation has a 12-month low of $19.40 and a 12-month high of $27.98. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.93 and a quick ratio of 1.68. The firm has a market cap of $3,039.67, a price-to-earnings ratio of 15.18, a P/E/G ratio of 1.35 and a beta of 1.67.

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

Ciena announced that its Board of Directors has approved a stock buyback program on Thursday, December 7th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the communications equipment provider to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Several equities analysts have commented on CIEN shares. Stifel Nicolaus reissued a “buy” rating on shares of Ciena in a research report on Friday, November 3rd. Citigroup upgraded shares of Ciena from a “neutral” rating to a “buy” rating and raised their price objective for the company from $23.87 to $29.00 in a report on Wednesday, August 30th. BidaskClub lowered shares of Ciena from a “sell” rating to a “strong sell” rating in a report on Saturday, November 4th. Nomura reduced their price objective on shares of Ciena from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, September 1st. Finally, Zacks Investment Research lowered shares of Ciena from a “hold” rating to a “sell” rating in a report on Tuesday, October 31st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. Ciena has a consensus rating of “Buy” and a consensus price target of $28.48.

A number of large investors have recently made changes to their positions in the stock. Rubric Capital Management LP acquired a new stake in Ciena during the 3rd quarter worth $33,373,000. Algert Global LLC raised its stake in Ciena by 48.5% during the 3rd quarter. Algert Global LLC now owns 128,474 shares of the communications equipment provider’s stock worth $2,823,000 after acquiring an additional 41,959 shares in the last quarter. Neuberger Berman Group LLC raised its stake in Ciena by 169.5% during the 3rd quarter. Neuberger Berman Group LLC now owns 4,217,455 shares of the communications equipment provider’s stock worth $92,657,000 after acquiring an additional 2,652,791 shares in the last quarter. PVG Asset Management Corp acquired a new stake in Ciena during the 3rd quarter worth $674,000. Finally, California Public Employees Retirement System raised its stake in Ciena by 5.1% during the 3rd quarter. California Public Employees Retirement System now owns 319,658 shares of the communications equipment provider’s stock worth $7,023,000 after acquiring an additional 15,588 shares in the last quarter.

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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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