Ciena Co. (NYSE:CIEN – Get Rating) SVP Rick Hamilton sold 2,540 shares of Ciena stock in a transaction on Wednesday, September 21st. The stock was sold at an average price of $40.79, for a total transaction of $103,606.60. Following the completion of the transaction, the senior vice president now directly owns 64,247 shares in the company, valued at $2,620,635.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Ciena Stock Performance

Shares of NYSE CIEN opened at $40.60 on Friday. The firm's 50-day moving average price is $49.00 and its 200-day moving average price is $51.31. The company has a quick ratio of 2.58, a current ratio of 3.48 and a debt-to-equity ratio of 0.40. The company has a market cap of $6.01 billion, a PE ratio of 31.97, a PEG ratio of 3.28 and a beta of 0.91. Ciena Co. has a 52-week low of $39.87 and a 52-week high of $78.28.

Ciena (NYSE:CIEN – Get Rating) last announced its quarterly earnings results on Thursday, September 1st. The communications equipment provider reported $0.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.21 by ($0.03). The company had revenue of $867.30 million for the quarter, compared to analysts' expectations of $903.95 million. Ciena had a net margin of 5.37% and a return on equity of 8.91%. The business's revenue was down 12.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.81 EPS. As a group, analysts anticipate that Ciena Co. will post 0.83 EPS for the current year.

Wall Street Analyst Weigh In

Institutional Trading of Ciena

A number of institutional investors have recently made changes to their positions in CIEN. Counterpoint Mutual Funds LLC purchased a new position in shares of Ciena in the first quarter worth approximately $67,000. Tobam boosted its holdings in shares of Ciena by 919.2% in the first 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 boosted its holdings in shares of Ciena by 8.8% in the first 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 position in shares of Ciena in the first quarter worth approximately $47,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Ciena by 8.2% in the first 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.

See Also

• Get a free copy of the StockNews.com research report on Ciena (CIEN)
• MarketBeat: Week in Review 9/19 – 9/23
• Why Does Tesla Stock Remain Resilient?
• 2 Semiconductor Stocks To Watch For Reversals
• Are Layoffs At A Small-Cap Tech A Bellwether For Housing Stocks?
• Is Costco's Post-Earnings Price Weakness A Good Time To Buy?

Receive News & Ratings for Ciena Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ciena and related companies with MarketBeat.com's FREE daily email newsletter.