Ciena Corporation (NYSE:CIEN) VP James Frodsham sold 2,000 shares of the business’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $25.70, for a total transaction of $51,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
James Frodsham also recently made the following trade(s):
- On Wednesday, June 21st, James Frodsham sold 2,119 shares of Ciena Corporation stock. The shares were sold at an average price of $25.31, for a total transaction of $53,631.89.
Ciena Corporation (NYSE:CIEN) traded up 0.75% during mid-day trading on Friday, hitting $24.17. 2,548,235 shares of the company traded hands. Ciena Corporation has a one year low of $18.94 and a one year high of $27.98. The stock has a market capitalization of $3.43 billion, a price-to-earnings ratio of 31.93 and a beta of 1.61. The company’s 50-day moving average is $25.58 and its 200-day moving average is $24.51.
Ciena Corporation (NYSE:CIEN) last released its quarterly earnings data on Thursday, June 1st. The communications equipment provider reported $0.45 EPS for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.08. Ciena Corporation had a net margin of 4.13% and a return on equity of 25.56%. The firm had revenue of $707.02 million during the quarter, compared to analysts’ expectations of $694.84 million. During the same period in the previous year, the business posted $0.34 earnings per share. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. Analysts predict that Ciena Corporation will post $1.77 EPS for the current year.
A number of research analysts have issued reports on CIEN shares. Needham & Company LLC boosted their target price on shares of Ciena Corporation from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, June 2nd. Deutsche Bank AG reissued a “hold” rating and set a $24.00 target price (up from $23.00) on shares of Ciena Corporation in a research note on Saturday, June 3rd. Instinet reissued a “buy” rating and set a $30.00 target price (up from $27.00) on shares of Ciena Corporation in a research note on Saturday, June 3rd. BMO Capital Markets reissued a “buy” rating and set a $30.00 target price on shares of Ciena Corporation in a research note on Thursday, April 27th. Finally, Zacks Investment Research lowered shares of Ciena Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Ciena Corporation presently has a consensus rating of “Buy” and an average price target of $30.19.
A number of large investors have recently bought and sold shares of the company. Thompson Davis & CO. Inc. purchased a new stake in Ciena Corporation during the first quarter valued at $106,000. Glen Harbor Capital Management LLC increased its position in Ciena Corporation by 12.1% in the first quarter. Glen Harbor Capital Management LLC now owns 5,280 shares of the communications equipment provider’s stock valued at $125,000 after buying an additional 572 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Ciena Corporation by 11.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,085 shares of the communications equipment provider’s stock valued at $127,000 after buying an additional 517 shares in the last quarter. Fortaleza Asset Management Inc. purchased a new position in Ciena Corporation during the second quarter valued at about $134,000. Finally, Advisor Group Inc. increased its stake in Ciena Corporation by 6.4% in 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 in the last quarter.
Ciena Corporation 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.
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