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Gary B. Smith, President and CEO of Ciena Corp (NYSE:CIEN), recently sold a significant portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Smith sold 6,800 shares of common stock on March 17, 2025. The shares were sold at a weighted average price of $65.1776, with the transactions occurring within a range of $64.12 to $66.115. This sale generated a total of $443,207. The transaction comes as Ciena trades at a P/E ratio of 121.26, with a market capitalization of $9.41 billion. According to InvestingPro analysis, the stock appears to be trading near its Fair Value.
Following the transaction, Smith retains ownership of 391,749 shares, which include unvested Restricted Stock Units (RSUs) and Performance Stock Units (PSUs). The sale was executed as part of a pre-arranged trading plan under Rule 10b5-1, established on September 11, 2024. InvestingPro data shows the stock has declined over the past month, with analysts setting price targets ranging from $65 to $100.
Ciena Corp, headquartered in Hanover, Maryland, is a global supplier of telecommunications networking equipment, software, and services. The company maintains strong financial health with a current ratio of 3.65 and operates with moderate debt levels. For deeper insights into Ciena’s financial health and growth prospects, including 12 additional ProTips, check out the comprehensive Pro Research Report available on InvestingPro.
In other recent news, CIENA’s first-quarter financial performance exceeded expectations, with revenue reaching $1.07 billion and earnings per share (EPS) of $0.64, surpassing analyst projections. The company’s gross margin was notably higher than anticipated at 44.7%, although this included non-recurring items that are not expected to continue in the second quarter. CIENA’s demand outlook remains strong, with significant orders from Service Providers and Cloud Providers contributing to a positive revenue guide for the second quarter. UBS, while maintaining a Neutral rating, adjusted its price target to $73, citing the temporary nature of some margin improvements.
Meanwhile, Stifel maintained a Buy rating with a $95 price target, highlighting CIENA’s robust order momentum and its market positioning with advanced optical networking technologies. Northland upgraded CIENA from Market Perform to Outperform, setting a new price target of $75, based on strong first-quarter orders and a balanced growth outlook. Needham also maintained a Buy rating but adjusted its price target to $90, acknowledging CIENA’s strong execution and market share expansion potential despite some one-time gains.
Morgan Stanley (NYSE:MS), maintaining an Equalweight rating, revised its price target to $76, noting CIENA’s strong quarterly results but expressing caution due to potential margin fluctuations and tariff uncertainties. The consensus among analysts reflects a recognition of CIENA’s impressive first-quarter performance and growth potential, tempered by varying degrees of caution regarding future challenges.
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