Ciena Corporation (NYSE:CIEN) CEO Gary B. Smith sold 8,000 shares of the company’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $22.03, for a total transaction of $176,240.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Gary B. Smith also recently made the following trade(s):

  • On Wednesday, September 27th, Gary B. Smith sold 4,000 shares of Ciena Corporation stock. The shares were sold at an average price of $21.99, for a total transaction of $87,960.00.
  • On Thursday, September 21st, Gary B. Smith sold 12,634 shares of Ciena Corporation stock. The shares were sold at an average price of $21.25, for a total transaction of $268,472.50.
  • On Wednesday, September 13th, Gary B. Smith sold 8,000 shares of Ciena Corporation stock. The shares were sold at an average price of $21.50, for a total transaction of $172,000.00.
  • On Tuesday, August 22nd, Gary B. Smith sold 8,000 shares of Ciena Corporation stock. The shares were sold at an average price of $23.27, for a total transaction of $186,160.00.
  • On Friday, August 11th, Gary B. Smith sold 8,000 shares of Ciena Corporation stock. The shares were sold at an average price of $24.20, for a total transaction of $193,600.00.
  • On Wednesday, July 26th, Gary B. Smith sold 4,000 shares of Ciena Corporation stock. The shares were sold at an average price of $26.25, for a total transaction of $105,000.00.
  • On Thursday, July 27th, Gary B. Smith sold 8,000 shares of Ciena Corporation stock. The shares were sold at an average price of $26.07, for a total transaction of $208,560.00.
  • On Monday, July 10th, Gary B. Smith sold 4,000 shares of Ciena Corporation stock. The shares were sold at an average price of $25.84, for a total transaction of $103,360.00.
  • On Tuesday, July 11th, Gary B. Smith sold 8,000 shares of Ciena Corporation stock. The shares were sold at an average price of $25.87, for a total transaction of $206,960.00.

Shares of Ciena Corporation (NYSE:CIEN) traded down 0.45% during trading on Friday, hitting $21.97. 2,319,375 shares of the stock were exchanged. Ciena Corporation has a 12-month low of $18.94 and a 12-month high of $27.98. The firm has a 50 day moving average of $23.44 and a 200-day moving average of $24.06. The company has a market cap of $3.13 billion, a price-to-earnings ratio of 24.04 and a beta of 1.68.

Ciena Corporation (NYSE:CIEN) last posted its quarterly earnings results on Thursday, August 31st. The communications equipment provider reported $0.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.02. The business had revenue of $728.70 million for the quarter, compared to analyst estimates of $726.81 million. Ciena Corporation had a return on equity of 25.53% and a net margin of 4.99%. The business’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.42 EPS. On average, analysts forecast that Ciena Corporation will post $1.74 earnings per share for the current year.

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Several research analysts have weighed in on CIEN shares. MKM Partners reaffirmed a “buy” rating and set a $30.00 target price on shares of Ciena Corporation in a research note on Tuesday. Stifel Nicolaus reaffirmed a “buy” rating and set a $30.00 target price on shares of Ciena Corporation in a research note on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 target price (down previously from $31.00) on shares of Ciena Corporation in a research note on Monday, September 25th. Nomura reaffirmed a “buy” rating and set a $28.00 target price on shares of Ciena Corporation in a research note on Wednesday, September 20th. Finally, Zacks Investment Research lowered shares of Ciena Corporation from a “buy” rating to a “hold” rating in a research note on Friday, September 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $29.55.

Hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Ciena Corporation by 11.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,085 shares of the communications equipment provider’s stock valued at $127,000 after acquiring an additional 517 shares in the last quarter. Fortaleza Asset Management Inc. acquired a new stake in shares of Ciena Corporation during the 2nd quarter valued at approximately $134,000. Advisor Group Inc. raised its position in shares of Ciena Corporation by 6.4% during the 2nd quarter. Advisor Group Inc. now owns 10,011 shares of the communications equipment provider’s stock valued at $151,000 after acquiring an additional 604 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Ciena Corporation during the 2nd quarter valued at approximately $159,000. Finally, TNB Financial acquired a new stake in shares of Ciena Corporation during the 2nd quarter valued at approximately $200,000.

About Ciena Corporation

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 Corporation (NYSE:CIEN)

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