Ciena Co. (NYSE:CIEN) VP James Frodsham sold 2,000 shares of Ciena stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $30.94, for a total transaction of $61,880.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

James Frodsham also recently made the following trade(s):

  • On Monday, July 16th, James Frodsham sold 2,000 shares of Ciena stock. The shares were sold at an average price of $26.99, for a total transaction of $53,980.00.

Shares of Ciena stock traded up $0.79 during trading hours on Friday, reaching $29.03. 2,642,081 shares of the company’s stock were exchanged, compared to its average volume of 2,963,570. Ciena Co. has a 1 year low of $19.40 and a 1 year high of $32.33. The firm has a market capitalization of $4.45 billion, a price-to-earnings ratio of 19.48, a PEG ratio of 1.85 and a beta of 1.26. The company has a quick ratio of 1.76, a current ratio of 1.97 and a debt-to-equity ratio of 0.33.

Ciena (NYSE:CIEN) last released its earnings results on Thursday, August 30th. The communications equipment provider reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.12. Ciena had a net margin of 25.56% and a return on equity of 8.56%. The business had revenue of $818.82 million during the quarter, compared to analyst estimates of $792.28 million. During the same quarter in the prior year, the firm earned $0.51 earnings per share. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, research analysts anticipate that Ciena Co. will post 1.09 EPS for the current fiscal year.

CIEN has been the subject of several recent research reports. Zacks Investment Research raised shares of Ciena from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a report on Wednesday, September 5th. ValuEngine raised shares of Ciena from a “hold” rating to a “buy” rating in a report on Friday, August 17th. Morgan Stanley lowered shares of Ciena from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $30.00 to $32.00 in a report on Thursday, September 13th. Argus lifted their target price on shares of Ciena to $38.00 and gave the company an “average” rating in a report on Wednesday, September 5th. They noted that the move was a valuation call. Finally, UBS Group lowered shares of Ciena from a “buy” rating to a “neutral” rating and lifted their target price for the company from $29.50 to $33.00 in a report on Wednesday, September 26th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $32.57.

Several institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its holdings in shares of Ciena by 5.1% during the second quarter. Dimensional Fund Advisors LP now owns 4,630,051 shares of the communications equipment provider’s stock worth $122,740,000 after buying an additional 224,828 shares in the last quarter. FIL Ltd boosted its position in shares of Ciena by 12.7% during the 1st quarter. FIL Ltd now owns 4,022,136 shares of the communications equipment provider’s stock valued at $104,174,000 after acquiring an additional 453,397 shares during the last quarter. LSV Asset Management boosted its position in shares of Ciena by 56.6% during the 2nd quarter. LSV Asset Management now owns 2,734,607 shares of the communications equipment provider’s stock valued at $72,494,000 after acquiring an additional 988,292 shares during the last quarter. Northern Trust Corp boosted its position in shares of Ciena by 3.2% during the 2nd quarter. Northern Trust Corp now owns 2,276,115 shares of the communications equipment provider’s stock valued at $60,341,000 after acquiring an additional 70,665 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Ciena by 89.4% during the 2nd quarter. Victory Capital Management Inc. now owns 2,153,725 shares of the communications equipment provider’s stock valued at $57,095,000 after acquiring an additional 1,016,354 shares during the last quarter.

Ciena Company Profile

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

Featured Story: Return on Investment (ROI) Defined, Explained

Insider Buying and Selling by Quarter for Ciena (NYSE:CIEN)

Receive News & Ratings for Ciena Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ciena and related companies with MarketBeat.com's FREE daily email newsletter.