Ciena Corporation (NYSE:CIEN) SVP Scott Mcfeely sold 1,000 shares of the company’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $22.74, for a total transaction of $22,740.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Scott Mcfeely also recently made the following trade(s):
- On Wednesday, November 15th, Scott Mcfeely sold 1,000 shares of Ciena stock. The shares were sold at an average price of $19.50, for a total transaction of $19,500.00.
Ciena Corporation (CIEN) traded down $0.19 during midday trading on Friday, reaching $21.85. The company’s stock had a trading volume of 3,178,780 shares, compared to its average volume of 2,114,404. The company has a current ratio of 1.93, a quick ratio of 1.68 and a debt-to-equity ratio of 0.27. The firm has a market cap of $3,166.70, a P/E ratio of 2.73, a PEG ratio of 1.40 and a beta of 1.67. Ciena Corporation has a 12-month low of $19.40 and a 12-month high of $27.98.
Ciena announced that its board has initiated a stock buyback program on Thursday, December 7th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the communications equipment provider to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.
A number of equities research analysts have weighed in on the stock. Goldman Sachs Group raised shares of Ciena from a “neutral” rating to a “buy” rating and set a $27.00 price target for the company in a report on Monday, January 15th. UBS Group cut their price target on shares of Ciena from $29.00 to $27.00 and set a “buy” rating for the company in a report on Friday, December 8th. BMO Capital Markets cut their price target on shares of Ciena to $25.00 and set an “outperform” rating for the company in a report on Friday, December 8th. Needham & Company LLC cut their price target on shares of Ciena from $26.00 to $24.00 and set a “buy” rating for the company in a report on Friday, December 8th. Finally, Raymond James Financial set a $33.00 price target on shares of Ciena and gave the company a “buy” rating in a report on Thursday, December 7th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twenty have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $28.48.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in 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 buying an additional 517 shares during the period. Howe & Rusling Inc. acquired a new position in shares of Ciena in the 3rd quarter valued at about $158,000. First Quadrant L P CA acquired a new position in shares of Ciena in the 3rd quarter valued at about $183,000. Advisor Group Inc. increased its holdings in shares of Ciena by 6.4% in the 2nd quarter. Advisor Group Inc. now owns 10,011 shares of the communications equipment provider’s stock valued at $151,000 after purchasing an additional 604 shares during the period. Finally, Oakbrook Investments LLC acquired a new position in shares of Ciena in the 3rd quarter valued at about $235,000.
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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.
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