Ciena Co. (CIEN) SVP Rick Hamilton Sells 2,526 Shares

Ciena Co. (NYSE:CIEN) SVP Rick Hamilton sold 2,526 shares of the company’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $21.40, for a total transaction of $54,056.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Rick Hamilton also recently made the following trade(s):

  • On Thursday, December 21st, Rick Hamilton sold 3,398 shares of Ciena stock. The stock was sold at an average price of $21.22, for a total transaction of $72,105.56.

Ciena Co. (NYSE:CIEN) traded down $0.07 during midday trading on Wednesday, reaching $21.28. The company’s stock had a trading volume of 1,500,244 shares, compared to its average volume of 2,480,000. The company has a current ratio of 1.93, a quick ratio of 1.68 and a debt-to-equity ratio of 0.27. The firm has a market cap of $3,060.00, a P/E ratio of 3.08, a PEG ratio of 1.36 and a beta of 1.67. Ciena Co. has a 12-month low of $19.40 and a 12-month high of $27.98.

Ciena (NYSE:CIEN) last issued its earnings results on Thursday, December 7th. The communications equipment provider reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.04). The business had revenue of $744.40 million during the quarter, compared to analyst estimates of $736.91 million. Ciena had a net margin of 45.04% and a return on equity of 18.32%. Ciena’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 EPS. research analysts forecast that Ciena Co. will post 1 earnings per share for the current fiscal year.

Ciena declared that its Board of Directors has authorized a share repurchase plan on Thursday, December 7th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the communications equipment provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

CIEN has been the subject of several research analyst reports. Cowen reaffirmed a “buy” rating and issued a $33.00 price objective on shares of Ciena in a report on Wednesday, December 6th. B. Riley reduced their price objective on shares of Ciena from $30.50 to $28.00 and set a “buy” rating for the company in a report on Tuesday, December 5th. Bank of America raised shares of Ciena from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $20.98 to $28.00 in a report on Monday, November 27th. Piper Jaffray Companies reissued a “buy” rating on shares of Ciena in a report on Thursday, October 12th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $30.00 price target on shares of Ciena in a report on Wednesday, October 4th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twenty have issued a buy rating to the company. Ciena presently has a consensus rating of “Buy” and an average target price of $28.48.

Institutional investors and hedge funds have recently modified their holdings of the company. Advisor Group Inc. increased its holdings in shares of Ciena by 6.4% in the 2nd quarter. Advisor Group Inc. now owns 10,011 shares of the communications equipment provider’s stock valued at $151,000 after purchasing an additional 604 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Ciena by 47.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,488 shares of the communications equipment provider’s stock valued at $157,000 after purchasing an additional 2,403 shares during the period. Howe & Rusling Inc. acquired a new position in shares of Ciena in the 3rd quarter valued at about $158,000. First Quadrant L P CA acquired a new position in shares of Ciena in the 3rd quarter valued at about $183,000. Finally, Koch Industries Inc. acquired a new position in shares of Ciena in the 2nd quarter valued at about $235,000.

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Ciena Company Profile

Ciena Corporation is a network strategy and technology company, which provides solutions that enable a range of network operators to adopt communication architectures and deliver an array of services, relied upon by enterprise and consumer end users. It provides equipment, software and services that support the transport, switching, aggregation, service delivery and management of voice, video and data traffic on communications networks.

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

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