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

Ciena Corporation (NYSE:CIEN) SVP James E. Moylan, Jr. sold 2,000 shares of the company’s stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $21.56, for a total transaction of $43,120.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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 (NYSE CIEN) opened at $21.40 on Thursday. Ciena Corporation has a 12-month low of $19.40 and a 12-month high of $27.98. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.93 and a quick ratio of 1.68. The company has a market cap of $3,048.88, a PE ratio of 2.68, a PEG ratio of 1.35 and a beta of 1.67.

Ciena (NYSE:CIEN) last posted its 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). Ciena had a return on equity of 18.32% and a net margin of 45.04%. The company had revenue of $744.40 million during the quarter, compared to analysts’ expectations of $736.91 million. During the same period in the prior year, the business posted $0.44 earnings per share. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. research analysts predict that Ciena Corporation will post 1 earnings per share for the current year.

Ciena declared that its Board of Directors has initiated a stock buyback program on Thursday, December 7th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the communications equipment provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its shares are undervalued.

CIEN has been the subject of several analyst reports. Zacks Investment Research cut shares of Ciena from a “hold” rating to a “sell” rating in a research report on Wednesday, November 15th. B. Riley dropped their price target on shares of Ciena from $30.50 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, December 5th. BidaskClub cut shares of Ciena from a “sell” rating to a “strong sell” rating in a research report on Saturday, November 4th. William Blair reissued a “buy” rating on shares of Ciena in a research report on Monday, November 13th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $30.00 price target on shares of Ciena in a research report on Wednesday, October 4th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and nineteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $28.48.

Several institutional investors have recently modified their holdings of CIEN. Schwab Charles Investment Management Inc. increased its stake in shares of Ciena by 8.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 847,006 shares of the communications equipment provider’s stock worth $21,193,000 after acquiring an additional 63,846 shares in the last quarter. First Trust Advisors LP bought a new position in shares of Ciena in the 2nd quarter worth about $1,219,000. Legal & General Group Plc increased its stake in shares of Ciena by 23.0% in the 2nd quarter. Legal & General Group Plc now owns 112,414 shares of the communications equipment provider’s stock worth $2,818,000 after acquiring an additional 21,028 shares in the last quarter. Comerica Bank increased its stake in shares of Ciena by 1.2% in the 2nd quarter. Comerica Bank now owns 109,886 shares of the communications equipment provider’s stock worth $2,913,000 after acquiring an additional 1,301 shares in the last quarter. Finally, Prudential Financial Inc. increased its stake in shares of Ciena by 1.4% in the 2nd quarter. Prudential Financial Inc. now owns 94,559 shares of the communications equipment provider’s stock worth $2,366,000 after acquiring an additional 1,320 shares in the last quarter.

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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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