Buy gold, crypto and China, tread carefully on rich U.S. tech: BofA’s Hartnett
Jason Phipps, Senior Vice President of Global Sales and Marketing at Ciena Corp (NYSE:CIEN), recently sold 18,888 shares of the company’s common stock. The transaction, which occurred on April 1, 2025, was executed under a Rule 10b5-1 trading plan. According to InvestingPro data, while this insider sale occurred, management has been actively buying back shares, and the stock is currently trading at $65.03, showing a 33.75% return over the past year. The shares were sold at a weighted average price of $59.8801, with prices ranging from $59.224 to $60.51, totaling approximately $1.13 million. Following the sale, Phipps retains ownership of 89,258 shares, which includes unvested Restricted Stock Units (RSUs) and Performance Stock Units (PSUs). InvestingPro analysis indicates the company is currently trading above its Fair Value, with 6 analysts recently revising their earnings expectations upward. Discover more insights and 8 additional ProTips with an InvestingPro subscription, including detailed analysis of Ciena’s financial health score of 1.84 (FAIR) and comprehensive Pro Research Report.
In other recent news, CIENA Corporation reported a strong first-quarter performance, with revenue reaching $1.07 billion, surpassing expectations and consensus estimates. Earnings per share also exceeded projections at $0.64, highlighting a robust quarter. Despite these results, UBS analysts adjusted their price target for CIENA to $73 from $85, maintaining a Neutral rating due to non-recurring items influencing gross margins. Stifel analysts, however, maintained a Buy rating with a $95 price target, citing strong order momentum and CIENA’s advanced optical networking technologies.
Additionally, CIENA’s shareholders approved the election of directors and the ratification of PricewaterhouseCoopers as the independent auditor during the company’s annual meeting. The meeting outcomes indicated strong support for the company’s leadership and financial practices. In technological advancements, CIENA, in collaboration with Lumen Technologies, successfully completed a network trial achieving a 1.2 terabit wavelength over 1,800 miles, marking a significant milestone in high-speed optical innovation. Evercore ISI reiterated its ’In Line’ rating with a $68 price target for CIENA, expressing confidence in the company’s strategic direction and growth potential in the telecom industry. These developments underscore CIENA’s sustained market position and continued investment in cutting-edge technology.
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