Ciena Corporation (CIEN) SVP James E. Moylan, Jr. Sells 2,000 Shares

Ciena Corporation (NYSE:CIEN) SVP James E. Moylan, Jr. sold 2,000 shares of Ciena stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $21.56, for a total transaction of $43,120.00. The transaction was disclosed in a filing with the SEC, which is available at this link.

James E. Moylan, Jr. also recently made the following trade(s):

  • On Friday, December 28th, James E. Moylan, Jr. sold 2,000 shares of Ciena stock. The shares were sold at an average price of $21.56, for a total transaction of $43,120.00.
  • On Thursday, December 21st, James E. Moylan, Jr. sold 27,284 shares of Ciena stock. The shares were sold at an average price of $21.22, for a total transaction of $578,966.48.
  • On Thursday, December 14th, James E. Moylan, Jr. sold 2,000 shares of Ciena stock. The shares were sold at an average price of $21.54, for a total transaction of $43,080.00.
  • On Thursday, November 30th, James E. Moylan, Jr. sold 2,000 shares of Ciena stock. The shares were sold at an average price of $21.46, for a total transaction of $42,920.00.
  • On Thursday, November 2nd, James E. Moylan, Jr. sold 2,000 shares of Ciena stock. The shares were sold at an average price of $20.46, for a total transaction of $40,920.00.
  • On Thursday, October 19th, James E. Moylan, Jr. sold 2,000 shares of Ciena stock. The shares were sold at an average price of $21.10, for a total transaction of $42,200.00.

Shares of Ciena Corporation (CIEN) opened at $21.22 on Wednesday. Ciena Corporation has a 1 year low of $19.40 and a 1 year high of $27.98. The firm has a market cap of $3,050.00, a price-to-earnings ratio of 3.07, a P/E/G ratio of 1.33 and a beta of 1.66. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.93 and a quick ratio of 1.68.

Ciena (NYSE:CIEN) last announced its quarterly earnings results on Thursday, December 7th. The communications equipment provider reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.04). The business had revenue of $744.40 million during the quarter, compared to the consensus estimate of $736.91 million. Ciena had a return on equity of 18.32% and a net margin of 45.04%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.44 EPS. analysts forecast that Ciena Corporation will post 1 EPS for the current fiscal year.

Ciena declared that its board has approved a stock repurchase program on Thursday, December 7th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the communications equipment provider to repurchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Several equities research analysts have recently issued reports on the stock. Stifel Nicolaus reiterated a “buy” rating and set a $30.00 price objective on shares of Ciena in a research report on Wednesday, October 4th. BidaskClub upgraded shares of Ciena from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 25th. Zacks Investment Research cut shares of Ciena from a “buy” rating to a “hold” rating in a research report on Friday, September 8th. Piper Jaffray Companies reiterated a “buy” rating on shares of Ciena in a research report on Thursday, October 12th. Finally, B. Riley reduced their price objective on shares of Ciena from $30.50 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, December 5th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and nineteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $28.48.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Ciena by 11.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,085 shares of the communications equipment provider’s stock worth $127,000 after buying an additional 517 shares during the period. Howe & Rusling Inc. purchased a new position in Ciena during the third quarter worth $158,000. First Quadrant L P CA purchased a new position in Ciena during the third quarter worth $183,000. Advisor Group Inc. boosted its stake in Ciena by 6.4% during the second quarter. Advisor Group Inc. now owns 10,011 shares of the communications equipment provider’s stock worth $151,000 after buying an additional 604 shares during the period. Finally, Oakbrook Investments LLC purchased a new position in Ciena during the third quarter worth $235,000.

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Ciena Company Profile

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 (NYSE:CIEN)

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