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

Ciena Co. (NYSE:CIEN) SVP James E. Moylan, Jr. sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $33.37, for a total value of $66,740.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

  • On Tuesday, April 16th, James E. Moylan, Jr. sold 2,000 shares of Ciena stock. The shares were sold at an average price of $38.65, for a total value of $77,300.00.
  • On Tuesday, April 2nd, James E. Moylan, Jr. sold 2,000 shares of Ciena stock. The shares were sold at an average price of $37.88, for a total value of $75,760.00.
  • On Tuesday, March 19th, James E. Moylan, Jr. sold 2,000 shares of Ciena stock. The shares were sold at an average price of $39.34, for a total value of $78,680.00.
  • On Tuesday, March 5th, James E. Moylan, Jr. sold 2,000 shares of Ciena stock. The shares were sold at an average price of $43.38, for a total value of $86,760.00.

Ciena stock opened at $34.61 on Friday. The company has a quick ratio of 2.52, a current ratio of 2.98 and a debt-to-equity ratio of 0.33. The firm has a market cap of $5.31 billion, a price-to-earnings ratio of 30.90, a P/E/G ratio of 1.32 and a beta of 1.02. Ciena Co. has a twelve month low of $22.99 and a twelve month high of $45.70.

Ciena (NYSE:CIEN) last posted its earnings results on Tuesday, March 5th. The communications equipment provider reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.06. The company had revenue of $778.53 million during the quarter, compared to analyst estimates of $761.62 million. Ciena had a return on equity of 10.73% and a net margin of 5.03%. Ciena’s revenue was up 20.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.15 earnings per share. Analysts anticipate that Ciena Co. will post 1.53 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the business. Rockefeller Capital Management L.P. purchased a new stake in shares of Ciena during the 1st quarter valued at $32,000. Huntington National Bank purchased a new stake in shares of Ciena during the 4th quarter valued at $29,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Ciena during the 1st quarter valued at $37,000. Investors Research Corp purchased a new stake in shares of Ciena during the 1st quarter valued at $39,000. Finally, PRW Wealth Management LLC purchased a new stake in shares of Ciena during the 4th quarter valued at $38,000. Institutional investors own 94.44% of the company’s stock.

A number of research analysts have recently commented on CIEN shares. Nomura upped their target price on Ciena from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. ValuEngine upgraded Ciena from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 22nd. Bank of America lowered Ciena from a “buy” rating to a “neutral” rating and set a $42.00 price target for the company. in a report on Wednesday, January 30th. They noted that the move was a valuation call. Jefferies Financial Group boosted their price target on Ciena from $42.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, January 22nd. Finally, JPMorgan Chase & Co. lowered Ciena from a “neutral” rating to an “underweight” rating in a report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $42.13.

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About Ciena

Ciena Corporation provides network hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of video, data, and voice 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.

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