Ciena Co. (NYSE:CIEN) SVP Rick Hamilton Sells 2,600 Shares of Stock

Ciena Co. (NYSE:CIENGet Rating) SVP Rick Hamilton sold 2,600 shares of Ciena stock in a transaction on Wednesday, June 22nd. The stock was sold at an average price of $44.06, for a total value of $114,556.00. Following the transaction, the senior vice president now owns 68,257 shares in the company, valued at approximately $3,007,403.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

CIEN stock traded up $1.96 on Thursday, reaching $46.14. 2,477,275 shares of the company’s stock were exchanged, compared to its average volume of 1,663,729. The stock has a fifty day moving average of $51.02 and a 200-day moving average of $61.09. Ciena Co. has a twelve month low of $41.63 and a twelve month high of $78.28. The firm has a market cap of $6.91 billion, a PE ratio of 16.96, a P/E/G ratio of 1.80 and a beta of 0.87. The company has a quick ratio of 3.10, a current ratio of 3.72 and a debt-to-equity ratio of 0.38.

Ciena (NYSE:CIENGet Rating) last announced its quarterly earnings data on Thursday, June 2nd. The communications equipment provider reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.04). Ciena had a return on equity of 12.18% and a net margin of 11.15%. The business had revenue of $949.20 million for the quarter, compared to analyst estimates of $950.86 million. During the same period in the prior year, the company earned $0.52 EPS. The company’s revenue was up 13.8% on a year-over-year basis. On average, equities research analysts predict that Ciena Co. will post 1.65 EPS for the current fiscal year.

Several brokerages recently issued reports on CIEN. UBS Group reduced their price objective on shares of Ciena from $66.00 to $51.00 and set a “neutral” rating on the stock in a report on Friday, June 3rd. Morgan Stanley dropped their target price on Ciena from $64.00 to $56.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 14th. Cowen dropped their target price on Ciena from $96.00 to $82.00 and set an “outperform” rating for the company in a research report on Monday, June 6th. Barclays dropped their target price on Ciena from $84.00 to $70.00 and set an “overweight” rating for the company in a research report on Friday, June 3rd. Finally, StockNews.com started coverage on Ciena in a research report on Thursday, March 31st. They set a “hold” rating for the company. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Ciena presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.71.

Hedge funds have recently made changes to their positions in the stock. IronBridge Private Wealth LLC acquired a new position in Ciena during the fourth quarter worth $31,000. Allegheny Financial Group LTD acquired a new stake in Ciena in the fourth quarter valued at $44,000. IndexIQ Advisors LLC acquired a new stake in Ciena in the first quarter valued at $41,000. Whittier Trust Co. grew its holdings in Ciena by 46.8% in the first quarter. Whittier Trust Co. now owns 728 shares of the communications equipment provider’s stock valued at $44,000 after purchasing an additional 232 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its holdings in Ciena by 32.9% in the fourth quarter. First Horizon Advisors Inc. now owns 744 shares of the communications equipment provider’s stock valued at $57,000 after purchasing an additional 184 shares during the last quarter. 88.75% of the stock is currently owned by hedge funds and other institutional investors.

Ciena Company Profile (Get Rating)

Ciena Corporation provides network hardware, software, and services that support the transport, routing, switching, aggregation, service delivery, and management of video, data, and voice traffic on communications networks worldwide. The company's Networking Platforms segment offers hardware networking products and solutions that optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching.

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