Ciena Target of Unusually Large Options Trading (CIEN)

Ciena Co. (NYSE:CIEN) was the target of some unusual options trading activity on Wednesday. Investors bought 7,972 put options on the stock. This represents an increase of 890% compared to the typical volume of 805 put options.

NYSE CIEN opened at $34.73 on Thursday. The firm has a market capitalization of $4.85 billion, a P/E ratio of 23.31, a P/E/G ratio of 1.49 and a beta of 1.21. Ciena has a twelve month low of $19.40 and a twelve month high of $34.97. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.97 and a quick ratio of 1.76.

Ciena (NYSE:CIEN) last posted its quarterly earnings data on Thursday, August 30th. The communications equipment provider reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.12. The business had revenue of $818.82 million during the quarter, compared to the consensus estimate of $792.28 million. Ciena had a return on equity of 8.56% and a net margin of 25.56%. Ciena’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.51 earnings per share. On average, sell-side analysts anticipate that Ciena will post 1.1 EPS for the current fiscal year.

In other Ciena news, SVP Stephen B. Alexander sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $26.00, for a total transaction of $65,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Gary B. Smith sold 9,600 shares of the business’s stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $27.17, for a total transaction of $260,832.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 82,812 shares of company stock valued at $2,485,482. Company insiders own 1.38% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC boosted its position in Ciena by 36,042.9% during the second quarter. Parallel Advisors LLC now owns 5,060 shares of the communications equipment provider’s stock valued at $134,000 after acquiring an additional 5,046 shares during the last quarter. Signaturefd LLC boosted its position in Ciena by 484.4% during the second quarter. Signaturefd LLC now owns 5,534 shares of the communications equipment provider’s stock valued at $147,000 after acquiring an additional 4,587 shares during the last quarter. CenterStar Asset Management LLC bought a new stake in Ciena during the third quarter valued at $159,000. Moneta Group Investment Advisors LLC boosted its position in Ciena by 102.0% during the second quarter. Moneta Group Investment Advisors LLC now owns 6,140 shares of the communications equipment provider’s stock valued at $163,000 after acquiring an additional 3,100 shares during the last quarter. Finally, Exane Derivatives bought a new stake in Ciena during the second quarter valued at $190,000.

Several research analysts have recently issued reports on CIEN shares. MED downgraded shares of Ciena from a “buy” rating to a “$26.20” rating and lowered their price target for the stock from $29.00 to $27.00 in a report on Wednesday, July 18th. They noted that the move was a valuation call. UBS Group upped their price target on shares of Ciena from $27.00 to $29.50 and gave the stock a “buy” rating in a report on Thursday, July 26th. ValuEngine downgraded shares of Ciena from a “buy” rating to a “hold” rating in a report on Friday, July 20th. Rosenblatt Securities downgraded shares of Ciena from a “buy” rating to a “neutral” rating and set a $27.00 price target for the company. in a report on Wednesday, July 18th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $28.00 price target on shares of Ciena in a report on Wednesday, August 29th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $32.74.

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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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