Ciena Co. (CIEN) VP James Frodsham Sells 2,000 Shares

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Ciena Co. (NYSE:CIEN) VP James Frodsham sold 2,000 shares of the firm’s stock in a transaction on Monday, September 17th. The stock was sold at an average price of $30.94, for a total value of $61,880.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

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

Shares of CIEN traded down $0.37 during midday trading on Wednesday, hitting $30.32. The company’s stock had a trading volume of 124,651 shares, compared to its average volume of 3,013,775. Ciena Co. has a one year low of $19.40 and a one year high of $32.33. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.76 and a current ratio of 1.97. The firm has a market cap of $4.43 billion, a price-to-earnings ratio of 20.35, a PEG ratio of 1.84 and a beta of 1.35.

Ciena (NYSE:CIEN) last issued its quarterly earnings results on Thursday, August 30th. The communications equipment provider reported $0.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.12. Ciena had a return on equity of 8.56% and a net margin of 25.56%. The company had revenue of $818.82 million for the quarter, compared to analyst estimates of $792.28 million. During the same quarter last year, the company posted $0.51 EPS. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. research analysts forecast that Ciena Co. will post 1.09 EPS for the current fiscal year.

CIEN has been the topic of a number of recent research reports. MED lowered Ciena from a “buy” rating to a “$26.20” rating and lowered their price objective for the stock from $29.00 to $27.00 in a research note on Wednesday, July 18th. They noted that the move was a valuation call. Argus raised their price objective on Ciena to $38.00 and gave the stock an “average” rating in a research note on Wednesday, September 5th. They noted that the move was a valuation call. ValuEngine upgraded Ciena from a “hold” rating to a “buy” rating in a research note on Monday, July 2nd. B. Riley raised their price objective on Ciena from $31.00 to $31.50 and gave the stock a “buy” rating in a research note on Friday, June 1st. Finally, Citigroup lowered their price objective on Ciena from $32.00 to $29.00 and set a “buy” rating on the stock in a research note on Friday, June 1st. Two analysts have rated the stock with a sell rating, five have issued a hold rating and eighteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $32.41.

Hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC grew its position in Ciena by 36,042.9% during the 2nd quarter. Parallel Advisors LLC now owns 5,060 shares of the communications equipment provider’s stock worth $134,000 after acquiring an additional 5,046 shares during the last quarter. Bristol John W & Co. Inc. NY bought a new stake in Ciena during the 1st quarter worth $137,000. Signaturefd LLC grew its position in Ciena by 484.4% during the 2nd quarter. Signaturefd LLC now owns 5,534 shares of the communications equipment provider’s stock worth $147,000 after acquiring an additional 4,587 shares during the last quarter. Moneta Group Investment Advisors LLC grew its position in Ciena by 102.0% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 6,140 shares of the communications equipment provider’s stock worth $163,000 after acquiring an additional 3,100 shares during the last quarter. Finally, Exane Derivatives bought a new stake in Ciena during the 2nd quarter worth $190,000.

About Ciena

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.

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