Rick Hamilton Sells 1,951 Shares of Ciena Co. (NYSE:CIEN) Stock

Ciena Co. (NYSE:CIEN) SVP Rick Hamilton sold 1,951 shares of the stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $44.05, for a total transaction of $85,941.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

  • On Thursday, May 9th, Rick Hamilton sold 9,652 shares of Ciena stock. The stock was sold at an average price of $34.95, for a total transaction of $337,337.40.

Shares of CIEN traded down $0.24 during mid-day trading on Thursday, hitting $43.87. 1,717,140 shares of the stock were exchanged, compared to its average volume of 2,811,731. The stock has a market cap of $6.88 billion, a P/E ratio of 39.17, a PEG ratio of 1.48 and a beta of 1.13. The company has a current ratio of 2.83, a quick ratio of 2.36 and a debt-to-equity ratio of 0.33. The stock has a 50-day simple moving average of $42.03. Ciena Co. has a 52-week low of $25.18 and a 52-week high of $46.23.

Ciena (NYSE:CIEN) last announced its quarterly earnings data on Thursday, June 6th. The communications equipment provider reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.07. The firm had revenue of $865.00 million during the quarter, compared to analysts’ expectations of $818.23 million. Ciena had a return on equity of 12.37% and a net margin of 5.98%. The company’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same period last year, the business posted $0.23 earnings per share. On average, analysts predict that Ciena Co. will post 1.72 EPS for the current fiscal year.

A number of institutional investors have recently modified their holdings of CIEN. Mizuho Securities Co. Ltd. acquired a new position in Ciena in the first quarter valued at approximately $37,000. PRW Wealth Management LLC bought a new stake in Ciena in the 4th quarter worth about $38,000. Investors Research Corp bought a new stake in Ciena in the 1st quarter worth about $39,000. Ffcm LLC increased its holdings in Ciena by 355.7% in the 4th quarter. Ffcm LLC now owns 1,276 shares of the communications equipment provider’s stock worth $43,000 after buying an additional 996 shares in the last quarter. Finally, FinTrust Capital Advisors LLC bought a new stake in Ciena in the 1st quarter worth about $57,000. 93.29% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts recently weighed in on the stock. Raymond James upped their price objective on shares of Maverix Metals from C$5.50 to C$6.00 and gave the stock an “outperform” rating in a research report on Friday, June 7th. TheStreet cut shares of Tilly’s from a “b-” rating to a “c+” rating in a report on Tuesday, June 25th. Piper Jaffray Companies raised their price objective on Ciena from $41.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, June 6th. Stifel Nicolaus raised their price objective on Vail Resorts from $219.00 to $230.00 and gave the company a “hold” rating in a research report on Friday, June 7th. Finally, Northland Securities reissued a “buy” rating and set a $42.00 price objective on shares of Ciena in a research report on Wednesday, June 5th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $45.83.

Ciena Company Profile

Ciena Corporation provides network hardware, software, and services that support the transport, 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 solutions 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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