Ciena Corporation (NYSE:CIEN) VP James Frodsham Sells 2,000 Shares

Ciena Corporation (NYSE:CIEN) VP James Frodsham sold 2,000 shares of the company’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $25.70, for a total value of $51,400.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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 value of $53,631.89.

Ciena Corporation (NYSE CIEN) traded down 1.46% during midday trading on Tuesday, hitting $24.32. 1,413,794 shares of the stock traded hands. The company has a market cap of $3.45 billion, a PE ratio of 32.13 and a beta of 1.61. The company’s 50-day moving average is $25.47 and its 200-day moving average is $24.50. Ciena Corporation has a one year low of $18.94 and a one year high of $27.98.

Ciena Corporation (NYSE:CIEN) last posted its quarterly earnings data on Thursday, June 1st. The communications equipment provider reported $0.45 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $694.84 million. During the same period in the prior year, the firm posted $0.34 EPS. The firm’s revenue was up 10.3% compared to the same quarter last year. Equities research analysts expect that Ciena Corporation will post $1.77 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Thompson Davis & CO. Inc. bought a new position in Ciena Corporation during the first quarter worth approximately $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 worth $125,000 after buying an additional 572 shares during the period. 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 worth $127,000 after buying an additional 517 shares during the last quarter. Fortaleza Asset Management Inc. acquired a new position in Ciena Corporation during the second quarter worth about $134,000. Finally, Advisor Group Inc. increased its position 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 during the last quarter.

Several research firms recently issued reports on CIEN. BMO Capital Markets reissued an “outperform” rating and issued a $32.00 target price (up from $30.00) on shares of Ciena Corporation in a research report on Saturday, June 3rd. Instinet reaffirmed a “buy” rating and set a $30.00 price target (up from $27.00) on shares of Ciena Corporation in a research report on Saturday, June 3rd. Deutsche Bank AG reaffirmed a “hold” rating and set a $24.00 price target (up from $23.00) on shares of Ciena Corporation in a research report on Saturday, June 3rd. MKM Partners reissued a “buy” rating and set a $32.00 target price (up from $30.00) on shares of Ciena Corporation in a research note on Friday, June 2nd. Finally, B. Riley reissued a “buy” rating and set a $34.00 target price on shares of Ciena Corporation in a research note on Sunday, June 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $30.19.

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.