Ciena (CIEN) SVP Stephen B. Alexander Sells 2,500 Shares of Stock

Ciena (NYSE:CIEN) SVP Stephen B. Alexander sold 2,500 shares of Ciena stock in a transaction dated Monday, April 16th. The shares were sold at an average price of $25.51, for a total value of $63,775.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of Ciena stock traded down $0.03 during trading on Thursday, hitting $26.32. 234,190 shares of the company were exchanged, compared to its average volume of 3,158,296. The firm has a market capitalization of $3,828.80, a P/E ratio of 17.68, a PEG ratio of 1.58 and a beta of 1.38. Ciena has a 1-year low of $19.40 and a 1-year high of $27.98. The company has a current ratio of 2.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.33.

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Ciena (NYSE:CIEN) last posted its earnings results on Tuesday, March 6th. The communications equipment provider reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.08. The company had revenue of $646.14 million during the quarter, compared to analyst estimates of $641.77 million. Ciena had a return on equity of 14.10% and a net margin of 27.76%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.17 EPS. research analysts anticipate that Ciena will post 1.08 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of CIEN. Maverick Capital Ltd. acquired a new position in shares of Ciena during the 4th quarter worth about $50,962,000. Millennium Management LLC lifted its holdings in shares of Ciena by 431.6% during the 4th quarter. Millennium Management LLC now owns 2,477,957 shares of the communications equipment provider’s stock valued at $51,864,000 after purchasing an additional 2,011,805 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Ciena during the 4th quarter valued at about $40,110,000. Boston Partners bought a new position in shares of Ciena during the 4th quarter valued at about $31,035,000. Finally, Gotham Asset Management LLC lifted its holdings in shares of Ciena by 1,777.6% during the 4th quarter. Gotham Asset Management LLC now owns 719,652 shares of the communications equipment provider’s stock valued at $15,062,000 after purchasing an additional 681,324 shares in the last quarter.

A number of research firms recently issued reports on CIEN. Zacks Investment Research cut Ciena from a “hold” rating to a “sell” rating in a report on Monday, March 5th. B. Riley lifted their price target on Ciena from $27.50 to $31.00 and gave the company a “buy” rating in a report on Wednesday, March 7th. BMO Capital Markets lifted their price target on Ciena to $32.00 and gave the company an “outperform” rating in a report on Wednesday, March 7th. Citigroup lifted their price target on Ciena from $30.00 to $32.00 and gave the company a “buy” rating in a report on Friday, March 9th. Finally, Rosenblatt Securities began coverage on Ciena in a report on Wednesday, April 4th. They issued a “buy” rating and a $32.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have issued a buy rating to the company. Ciena has a consensus rating of “Buy” and a consensus target price of $29.91.

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About Ciena

Ciena Corporation provides hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of voice, video, and data traffic on communications networks worldwide. The company's Networking Platforms segment offers hardware networking solutions optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching.

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

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