Ciena Co. (NYSE:CIEN) SVP Rick Hamilton Sells 2,540 Shares

Ciena Co. (NYSE:CIENGet Rating) SVP Rick Hamilton sold 2,540 shares of the company’s stock in a transaction dated Wednesday, September 21st. The stock was sold at an average price of $40.79, for a total value of $103,606.60. Following the completion of the transaction, the senior vice president now owns 64,247 shares of the company’s stock, valued at $2,620,635.13. The transaction was disclosed in a filing with the SEC, which is available at this link.

Ciena Stock Up 0.7 %

Shares of CIEN stock traded up $0.30 during midday trading on Thursday, reaching $41.04. 2,086,551 shares of the stock were exchanged, compared to its average volume of 1,608,488. Ciena Co. has a 1 year low of $40.17 and a 1 year high of $78.28. The company’s 50 day moving average is $49.25 and its two-hundred day moving average is $51.55. The company has a current ratio of 3.48, a quick ratio of 2.58 and a debt-to-equity ratio of 0.40. The firm has a market cap of $6.08 billion, a PE ratio of 32.01, a price-to-earnings-growth ratio of 3.27 and a beta of 0.91.

Ciena (NYSE:CIENGet Rating) last posted its earnings results on Thursday, September 1st. The communications equipment provider reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.03). Ciena had a return on equity of 8.91% and a net margin of 5.37%. The firm had revenue of $867.30 million for the quarter, compared to analysts’ expectations of $903.95 million. During the same quarter last year, the company posted $0.81 EPS. The firm’s revenue was down 12.2% on a year-over-year basis. On average, equities research analysts predict that Ciena Co. will post 0.83 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. cut Ciena from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $62.00 to $45.00 in a report on Tuesday, September 6th. Evercore ISI lowered their target price on Ciena to $60.00 in a research note on Friday, June 3rd. UBS Group lowered their target price on Ciena from $66.00 to $51.00 and set a “neutral” rating for the company in a research note on Friday, June 3rd. Raymond James lowered their target price on Ciena from $64.00 to $55.00 and set an “outperform” rating for the company in a research note on Friday, September 2nd. Finally, Rosenblatt Securities lowered their target price on Ciena from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Friday, September 2nd. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $65.32.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Counterpoint Mutual Funds LLC purchased a new stake in shares of Ciena in the 1st quarter worth approximately $67,000. Tobam grew its stake in shares of Ciena by 919.2% in the 1st quarter. Tobam now owns 2,181 shares of the communications equipment provider’s stock worth $132,000 after buying an additional 1,967 shares during the last quarter. Providence Capital Advisors LLC grew its stake in shares of Ciena by 8.8% in the 1st quarter. Providence Capital Advisors LLC now owns 81,807 shares of the communications equipment provider’s stock worth $4,956,000 after buying an additional 6,640 shares during the last quarter. Rosenberg Matthew Hamilton purchased a new stake in shares of Ciena in the 1st quarter worth approximately $47,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Ciena by 8.2% in the 1st quarter. Bank of New York Mellon Corp now owns 2,710,012 shares of the communications equipment provider’s stock worth $164,308,000 after buying an additional 206,112 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

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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Insider Buying and Selling by Quarter for Ciena (NYSE:CIEN)

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