AMD Chairman Trades Ciena Corporation (CIEN) Stock

Bruce L. Claflin is better known as Advanced Micro Devices, Inc (NASDAQ:AMD) chairman of the board, but the technology chipmaker chairman also acts as one the directors for Hanover, Md-based Ciena Corporation.

Claflin filed an SEC transaction form on July 13, 2015, for a transaction involving Ciena corp stock on the same day. 400 shares of the company stock was disposed of at an average price of $23.92 per share. Claflin held 61,362 shares of network technology maker's stock after the transaction.

The total value of the shares was $9,568.

The sales were effected pursuant to 10b5-1 trading plan dated December 15, 2014, a plan typically setup by major shareholders to bypass any insider trading accusations.

Ciena closed 2 percent higher to $24.29. The Anne Arundel County-based company is near its 52-week high of $26.25, the stock has traded as low as $13.77 in the same time period. Ciena has grown to a market value of approximately $2.80 billion.

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