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HANOVER, MD— Ciena Corporation’s (NYSE:CIEN) President and CEO, Gary B. Smith, recently sold 6,800 shares of the company’s common stock. The network technology company, currently valued at $11.6 billion, has seen its stock surge 66% over the past year, according to InvestingPro data. The transaction, executed on May 15, 2025, was part of a pre-established Rule 10b5-1 trading plan. The shares were sold at a weighted average price of $79.89, with the sales price ranging from $79.26 to $80.335. This sale netted a total of $543,252. InvestingPro analysis indicates the stock is trading above its Fair Value, with technical indicators suggesting overbought conditions.
Following the transaction, Smith retains ownership of 362,080 shares, which include unvested Restricted Stock Units (RSUs) and Performance Stock Units (PSUs). The sale was reported to the Securities and Exchange Commission on May 16, 2025. With the company’s next earnings report due on June 5, InvestingPro subscribers can access 13 additional investment tips and a comprehensive Pro Research Report for deeper insights into Ciena’s valuation and growth prospects.
In other recent news, CIENA Corporation has reported first-quarter revenue of $1.07 billion, surpassing both UBS’s estimate of $1.06 billion and consensus estimates. Earnings per share also exceeded expectations at $0.64, compared to the anticipated $0.44. Despite these strong results, UBS lowered its price target for CIENA to $73.00 from $85.00, maintaining a Neutral rating, citing non-recurring items that boosted the gross margin to 44.7%. Meanwhile, Stifel analysts reaffirmed a Buy rating with a $95.00 target, expressing confidence in CIENA’s strategic focus on AI and data center advancements. Evercore ISI also maintained its ’In Line’ rating with a $68.00 target, highlighting CIENA’s technological innovations and market opportunities. Additionally, CIENA’s shareholders approved board nominees and the appointment of PricewaterhouseCoopers LLP as the independent auditor at the recent annual meeting. In a significant technological achievement, CIENA and Lumen Technologies completed a network trial, transmitting a 1.2 terabit wavelength over 1,800 miles using Ciena’s WaveLogic 6 Extreme technology. These developments reflect CIENA’s ongoing efforts to innovate and expand its market presence.
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