Ciena Co. (NYSE:CIEN – Get Rating) CEO Gary B. Smith sold 3,542 shares of the firm’s stock in a transaction that occurred on Tuesday, June 21st. The stock was sold at an average price of $44.68, for a total transaction of $158,256.56. Following the completion of the sale, the chief executive officer now directly owns 427,879 shares in the company, valued at $19,117,633.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of CIEN traded up $1.96 during mid-day trading on Thursday, reaching $46.14. 2,477,275 shares of the stock traded hands, compared to its average volume of 1,663,729. The firm has a market cap of $6.91 billion, a price-to-earnings ratio of 16.96, a P/E/G ratio of 1.80 and a beta of 0.87. The stock has a fifty day simple moving average of $51.02 and a 200 day simple moving average of $61.09. Ciena Co. has a 12-month low of $41.63 and a 12-month high of $78.28. The company has a quick ratio of 3.10, a current ratio of 3.72 and a debt-to-equity ratio of 0.38.
Ciena (NYSE:CIEN – Get Rating) last issued its quarterly earnings results on Thursday, June 2nd. The communications equipment provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.04). The company had revenue of $949.20 million during the quarter, compared to the consensus estimate of $950.86 million. Ciena had a return on equity of 12.18% and a net margin of 11.15%. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 EPS. On average, equities research analysts expect that Ciena Co. will post 1.65 earnings per share for the current fiscal year.
Large investors have recently modified their holdings of the stock. IronBridge Private Wealth LLC bought a new stake in shares of Ciena in the fourth quarter worth $31,000. Allegheny Financial Group LTD bought a new stake in shares of Ciena in the fourth quarter worth $44,000. IndexIQ Advisors LLC bought a new stake in shares of Ciena in the first quarter worth $41,000. Whittier Trust Co. boosted its holdings in Ciena by 46.8% in the first quarter. Whittier Trust Co. now owns 728 shares of the communications equipment provider’s stock worth $44,000 after purchasing an additional 232 shares during the period. Finally, First Horizon Advisors Inc. boosted its holdings in Ciena by 32.9% in the fourth quarter. First Horizon Advisors Inc. now owns 744 shares of the communications equipment provider’s stock worth $57,000 after purchasing an additional 184 shares during the period. Institutional investors and hedge funds own 88.75% of the company’s stock.
About Ciena (Get Rating)
Ciena Corporation provides network hardware, software, and services that support the transport, routing, 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 products and solutions that optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching.
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