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Dino DiPerna, Senior Vice President of Global R&D at Ciena Corp (NYSE:CIEN), recently sold shares of the company’s common stock valued at approximately $42,946. The transactions, executed on April 15, involved the sale of 734 shares at a price of $58.51 each. These sales were conducted under a Rule 10b5-1 trading plan, which was set up in September 2024. According to InvestingPro data, while this insider sale occurred, management has been actively buying back shares, and analysts expect net income growth this year. Following these transactions, DiPerna holds 46,247 shares, which include unvested Restricted Stock Units (RSUs) and Performance Stock Units (PSUs). The company maintains strong liquidity with a current ratio of 3.65, and InvestingPro analysis reveals 10+ additional key insights about Ciena’s financial health and market position in its comprehensive Pro Research Report.
In other recent news, CIENA Corporation reported first-quarter revenue of $1.07 billion, surpassing both UBS’s estimate of $1.06 billion and consensus estimates, with earnings per share (EPS) of $0.64, exceeding projections of $0.44. Despite these positive results, UBS adjusted its price target for CIENA from $85.00 to $73.00, maintaining a Neutral rating, as the gross margin boost was attributed to non-recurring items. CIENA’s second-quarter revenue guidance has been set at $1.09 billion at the midpoint, indicating continued business momentum. Meanwhile, Stifel reiterated a Buy rating with a $95.00 target, highlighting CIENA’s strategic positioning in AI and data center advancements. Evercore ISI maintained its ’In Line’ rating with a $68.00 target, noting CIENA’s role in developing coherent lite pluggables expected to generate revenue in 2026. Additionally, CIENA’s annual meeting saw the election of directors and ratification of PricewaterhouseCoopers LLP as the independent auditor. In a collaboration with Lumen Technologies, CIENA achieved a 1.2 terabit wavelength in a network trial, showcasing its high-speed optical innovation. These developments underscore CIENA’s ongoing strategic initiatives and technological advancements in the telecommunications sector.
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