Ciena (NYSE:CIEN) SVP Stephen B. Alexander sold 2,500 shares of the stock in a transaction dated Monday, April 16th. The stock was sold at an average price of $25.51, for a total value of $63,775.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Shares of NYSE:CIEN traded down $0.18 during trading on Wednesday, hitting $26.35. The company had a trading volume of 1,854,860 shares, compared to its average volume of 3,200,095. The firm has a market capitalization of $3,709.01, a price-to-earnings ratio of 17.68, a PEG ratio of 1.54 and a beta of 1.38. Ciena has a one year low of $19.40 and a one year high of $27.98. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.06 and a quick ratio of 1.79.
Ciena (NYSE:CIEN) last posted its quarterly earnings data on Tuesday, March 6th. The communications equipment provider reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.08. The business 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% on a year-over-year basis. During the same period last year, the company earned $0.17 EPS. analysts expect that Ciena will post 1.08 earnings per share for the current fiscal year.
Several analysts recently issued reports on CIEN shares. Goldman Sachs upgraded Ciena from a “neutral” rating to a “buy” rating and set a $27.00 target price for the company in a research report on Monday, January 15th. Zacks Investment Research upgraded Ciena from a “sell” rating to a “hold” rating in a research report on Monday, February 12th. BMO Capital Markets reiterated a “buy” rating and set a $25.00 target price on shares of Ciena in a research report on Monday, March 5th. Piper Jaffray reiterated a “neutral” rating and set a $27.00 target price (up previously from $22.00) on shares of Ciena in a research report on Tuesday, March 6th. Finally, Stifel Nicolaus increased their target price on Ciena from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, March 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. Ciena presently has an average rating of “Buy” and a consensus price target of $29.91.
Large investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Ciena by 47.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,488 shares of the communications equipment provider’s stock valued at $157,000 after purchasing an additional 2,403 shares during the last quarter. Stone Ridge Asset Management LLC bought a new stake in shares of Ciena in the 4th quarter valued at approximately $225,000. Corient Capital Partners LLC bought a new stake in shares of Ciena in the 4th quarter valued at approximately $230,000. Aristotle Atlantic Partners LLC bought a new stake in shares of Ciena in the 4th quarter valued at approximately $244,000. Finally, Koch Industries Inc. bought a new stake in shares of Ciena in the 4th quarter valued at approximately $252,000.
COPYRIGHT VIOLATION NOTICE: “Stephen B. Alexander Sells 2,500 Shares of Ciena (CIEN) Stock” was originally published by The Lincolnian Online and is owned by of The Lincolnian Online. If you are reading this article on another site, it was copied illegally and republished in violation of US and international copyright & trademark laws. The correct version of this article can be read at https://www.thelincolnianonline.com/2018/04/18/stephen-b-alexander-sells-2500-shares-of-ciena-cien-stock.html.
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.
Receive News & Ratings for Ciena Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ciena and related companies with MarketBeat.com's FREE daily email newsletter.