Ciena Corp. (NASDAQ:CIEN) SVP Stephen Alexander sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $25.51, for a total transaction of $89,285.00. Following the sale, the senior vice president now directly owns 163,858 shares of the company’s stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of analysts have recently weighed in on CIEN shares. Analysts at Jefferies Group reiterated a “hold” rating on shares of Ciena Corp. (NASDAQ:CIEN) in a research note to investors on Friday, September 13th. They now have a $22.00 price target on the stock, up previously from $20.00. Separately, analysts at Thomson Reuters/Verus downgraded shares of Ciena Corp. (NASDAQ:CIEN) from a “buy” rating to a “hold” rating in a research note to investors on Monday, September 9th. Finally, analysts at TheStreet upgraded shares of Ciena Corp. (NASDAQ:CIEN) from a “sell” rating to a “hold” rating in a research note to investors on Friday, September 6th.
One analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $24.56.
Ciena Corp. (NASDAQ:CIEN) traded down 0.19% during mid-day trading on Wednesday, hitting $25.93. 760,503 shares of the company’s stock traded hands. Ciena Corp. has a one year low of $11.96 and a one year high of $25.99. The stock’s 50-day moving average is $22.48 and its 200-day moving average is $18.78. The company’s market cap is $2.674 billion.
Ciena Corp. (NASDAQ:CIEN) last posted its quarterly earnings results on Wednesday, September 4th. The company reported $0.23 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.16 by $0.07. The company had revenue of $538.40 million for the quarter, compared to the consensus estimate of $532.99 million. During the same quarter in the prior year, the company posted ($0.04) earnings per share. The company’s quarterly revenue was up 13.6% on a year-over-year basis. On average, analysts predict that Ciena Corp. will post $0.62 earnings per share for the current fiscal year.
Ciena Corporation (NASDAQ:CIEN) is a provider of communications networking equipment, software and services that support the transport, switching, aggregation and management of voice, video and data traffic.