Ciena Co. (NYSE:CIEN) Director Sells $86,460.00 in Stock

Ciena Co. (NYSE:CIEN) Director Thomas Michael Nevens sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $43.23, for a total value of $86,460.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Thomas Michael Nevens also recently made the following trade(s):

  • On Thursday, July 11th, Thomas Michael Nevens sold 2,000 shares of Ciena stock. The stock was sold at an average price of $43.40, for a total value of $86,800.00.

NYSE CIEN opened at $40.07 on Friday. The business has a fifty day moving average price of $43.44 and a 200 day moving average price of $40.04. Ciena Co. has a one year low of $26.18 and a one year high of $46.78. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.36 and a current ratio of 2.83. The company has a market cap of $6.70 billion, a P/E ratio of 35.78, a P/E/G ratio of 1.43 and a beta of 1.11.



Ciena (NYSE:CIEN) last posted its quarterly earnings data on Thursday, June 6th. The communications equipment provider reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.07. The firm had revenue of $865.00 million during the quarter, compared to the consensus estimate of $818.23 million. Ciena had a return on equity of 12.37% and a net margin of 5.98%. The firm’s revenue was up 18.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.23 EPS. As a group, sell-side analysts predict that Ciena Co. will post 1.74 EPS for the current fiscal year.

Several research analysts have recently weighed in on CIEN shares. JPMorgan Chase & Co. downgraded Ciena from a “neutral” rating to an “underweight” rating in a research note on Monday, April 22nd. Piper Jaffray Companies upped their target price on Ciena from $41.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, June 6th. Raymond James upped their target price on Ciena from $48.00 to $53.00 and gave the stock an “outperform” rating in a research note on Friday, June 7th. Citigroup upped their target price on Ciena from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. Finally, MKM Partners upped their target price on Ciena to $54.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $46.79.

Large investors have recently modified their holdings of the business. Flagship Harbor Advisors LLC grew its holdings in Ciena by 98.5% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 645 shares of the communications equipment provider’s stock valued at $26,000 after buying an additional 320 shares in the last quarter. Tobam purchased a new stake in Ciena in the 2nd quarter valued at $33,000. Mizuho Securities Co. Ltd. purchased a new stake in Ciena in the 1st quarter valued at $37,000. Investors Research Corp purchased a new stake in Ciena in the 1st quarter valued at $39,000. Finally, Coastal Capital Group Inc. purchased a new stake in Ciena in the 2nd quarter valued at $41,000. Institutional investors own 92.64% of the company’s stock.

About Ciena

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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