Scott Mcfeely Sells 1,000 Shares of Ciena Co. (NYSE:CIEN) Stock

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Ciena Co. (NYSE:CIEN) SVP Scott Mcfeely sold 1,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $39.73, for a total value of $39,730.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Scott Mcfeely also recently made the following trade(s):

  • On Thursday, August 15th, Scott Mcfeely sold 1,000 shares of Ciena stock. The shares were sold at an average price of $41.11, for a total value of $41,110.00.

Shares of NYSE:CIEN traded down $0.09 during mid-day trading on Thursday, reaching $40.21. The company had a trading volume of 1,034,833 shares, compared to its average volume of 2,952,142. The company’s 50-day moving average price is $41.39 and its 200-day moving average price is $40.09. The company has a current ratio of 2.90, a quick ratio of 2.45 and a debt-to-equity ratio of 0.32. Ciena Co. has a one year low of $28.23 and a one year high of $46.78. The firm has a market cap of $6.39 billion, a price-to-earnings ratio of 35.90, a PEG ratio of 1.27 and a beta of 1.13.

Ciena (NYSE:CIEN) last issued its earnings results on Thursday, September 5th. The communications equipment provider reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.21. Ciena had a net margin of 6.77% and a return on equity of 13.64%. The business had revenue of $960.60 million for the quarter, compared to analysts’ expectations of $930.64 million. During the same quarter in the previous year, the firm posted $0.48 EPS. The business’s revenue for the quarter was up 17.3% compared to the same quarter last year. On average, research analysts anticipate that Ciena Co. will post 1.88 EPS for the current fiscal year.

CIEN has been the subject of a number of analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Ciena in a research note on Tuesday, September 3rd. Jefferies Financial Group lifted their price target on Ciena from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, June 7th. Nomura cut their price target on Ciena from $52.00 to $47.00 and set a “buy” rating for the company in a research note on Friday, September 6th. Northland Securities reiterated a “buy” rating and set a $42.00 price target on shares of Ciena in a research note on Wednesday, June 5th. Finally, Raymond James lifted their price target on Ciena from $48.00 to $53.00 and gave the company an “outperform” rating in a research note on Friday, June 7th. Nine research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Ciena has a consensus rating of “Buy” and an average target price of $48.52.

A number of hedge funds have recently modified their holdings of CIEN. Flagship Harbor Advisors LLC boosted its stake in shares of Ciena by 98.5% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 645 shares of the communications equipment provider’s stock worth $26,000 after purchasing an additional 320 shares during the period. Tobam acquired a new stake in shares of Ciena in the second quarter valued at about $33,000. Coastal Capital Group Inc. acquired a new stake in shares of Ciena in the second quarter valued at about $41,000. FinTrust Capital Advisors LLC acquired a new stake in shares of Ciena in the first quarter valued at about $57,000. Finally, Clearbridge Investments LLC raised its position in shares of Ciena by 83.9% in the first quarter. Clearbridge Investments LLC now owns 2,321 shares of the communications equipment provider’s stock valued at $87,000 after buying an additional 1,059 shares during the last quarter. 88.13% of the stock is currently owned by institutional investors and hedge funds.

Ciena Company Profile

Ciena Corporation provides network hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of video, data, and voice 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.

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