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Gary Smith, the President and CEO of CIENA CORP (NASDAQ:CIEN), sold 6,800 shares of common stock on July 15, 2025, according to a Form 4 filing with the Securities and Exchange Commission. The network technology company, currently valued at nearly $12 billion, has seen its stock surge 67% over the past year, with InvestingPro analysis indicating the shares are trading above their Fair Value. The shares were sold at a weighted average price of $82.2279, with individual sales prices ranging from $81.4275 to $82.8500, for a total transaction value of $559149.
The sale was executed under a Rule 10b5-1 trading plan established on September 11, 2024. Following the transaction, Smith directly owns 325,557 shares of CIENA CORP, which includes unvested Restricted Stock Units (RSUs) and Performance Stock Units (PSUs).
In other recent news, Ciena (NYSE:CIEN) has experienced a series of significant developments impacting its financial outlook and leadership. Ciena’s fiscal second-quarter 2025 results revealed mixed performance, with a 3% revenue increase but a $0.10 shortfall in non-GAAP EPS compared to consensus expectations. This mixed outcome led Needham analysts to maintain a Buy rating, citing strong cloud segment growth and future opportunities in intra-data center markets. Meanwhile, UBS analysts raised their price target for Ciena stock to $78, highlighting an 85% year-over-year increase in Direct Cloud-related revenue, though concerns remain over gross margins due to product mix shifts.
In leadership news, Ciena appointed Marc D. Graff as the new Chief Financial Officer, effective August 1, 2025. Graff, who brings extensive experience from Altera Corporation and Intel (NASDAQ:INTC), will replace James E. Moylan, Jr., who is set to retire. Evercore ISI reiterated an In Line rating for Ciena, noting that Graff’s appointment aligns with the growing demand for high-speed connectivity driven by AI and cloud computing.
Additionally, Morgan Stanley (NYSE:MS) downgraded Ciena from Equalweight to Underweight, citing concerns over disappointing margin performance despite revenue growth in the optical AI market. The firm noted that earnings per share estimates have declined, even as revenue estimates have increased, due to lower-than-average margins from 400ZR pluggable customers. Morgan Stanley expects continued revenue upside but sees the current valuation as creating a negatively skewed risk-reward profile.
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