Ciena Corporation (CIEN) CFO James E. Moylan, Jr. Sells 27,284 Shares

Ciena Corporation (NYSE:CIEN) CFO James E. Moylan, Jr. sold 27,284 shares of the business’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $21.22, for a total value of $578,966.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

  • 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 value 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 value 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 value 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 value of $42,200.00.

Shares of Ciena Corporation (NYSE:CIEN) traded up $0.07 during trading hours on Tuesday, hitting $21.69. The stock had a trading volume of 2,041,600 shares, compared to its average volume of 3,149,501. The stock has a market cap of $3,100.00, a price-to-earnings ratio of 3.13, a price-to-earnings-growth ratio of 1.38 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 Corporation has a fifty-two week low of $19.40 and a fifty-two week high of $27.98.

Ciena (NYSE:CIEN) last announced its quarterly earnings results on Thursday, December 7th. The communications equipment provider reported $0.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.04). The firm had revenue of $744.40 million for the quarter, compared to analysts’ expectations of $736.91 million. Ciena had a return on equity of 18.32% and a net margin of 45.04%. Ciena’s revenue was up 3.9% compared to the same quarter last year. During the same period last year, the firm earned $0.44 EPS. sell-side analysts expect that Ciena Corporation will post 1 EPS for the current year.

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

Several large investors have recently made changes to their positions in CIEN. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Ciena by 11.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,085 shares of the communications equipment provider’s stock worth $127,000 after purchasing an additional 517 shares during the last quarter. Advisor Group Inc. raised its position in shares of Ciena by 6.4% during the 2nd quarter. Advisor Group Inc. now owns 10,011 shares of the communications equipment provider’s stock worth $151,000 after purchasing an additional 604 shares during the last quarter. Howe & Rusling Inc. acquired a new position in shares of Ciena during the 3rd quarter worth approximately $158,000. First Quadrant L P CA acquired a new position in shares of Ciena during the 3rd quarter worth approximately $183,000. Finally, Koch Industries Inc. acquired a new position in shares of Ciena during the 2nd quarter worth approximately $235,000.

A number of equities research analysts have weighed in on the company. William Blair reaffirmed an “outperform” rating on shares of Ciena in a report on Thursday, August 31st. UBS Group set a $31.00 price objective on Ciena and gave the company a “buy” rating in a report on Wednesday, August 30th. Citigroup raised Ciena from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $23.87 to $29.00 in a report on Wednesday, August 30th. B. Riley reaffirmed a “buy” rating and issued a $34.25 price objective on shares of Ciena in a report on Tuesday, August 29th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Ciena in a report on Wednesday, October 4th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. Ciena has a consensus rating of “Buy” and an average price target of $28.48.

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About Ciena

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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