Ciena Co. (NYSE:CIEN – Get Free Report) SVP Jason Phipps sold 2,712 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $48.29, for a total value of $130,962.48. Following the transaction, the senior vice president now directly owns 96,000 shares of the company’s stock, valued at $4,635,840. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Ciena Price Performance
Shares of CIEN opened at $46.95 on Friday. Ciena Co. has a fifty-two week low of $39.94 and a fifty-two week high of $63.24. The company has a market capitalization of $6.75 billion, a price-to-earnings ratio of 45.14, a price-to-earnings-growth ratio of 4.76 and a beta of 0.95. The firm has a 50-day simple moving average of $47.95 and a 200-day simple moving average of $49.54. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.76 and a current ratio of 3.88.
Ciena (NYSE:CIEN – Get Free Report) last announced its earnings results on Thursday, June 6th. The communications equipment provider reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.12. Ciena had a net margin of 3.71% and a return on equity of 7.16%. The business had revenue of $910.80 million during the quarter, compared to the consensus estimate of $895.80 million. During the same quarter in the prior year, the firm earned $0.59 earnings per share. The business’s quarterly revenue was down 19.6% compared to the same quarter last year. On average, equities research analysts anticipate that Ciena Co. will post 1.19 earnings per share for the current year.
Analyst Ratings Changes
View Our Latest Stock Analysis on CIEN
Institutional Investors Weigh In On Ciena
A number of hedge funds have recently added to or reduced their stakes in the company. John G Ullman & Associates Inc. lifted its position in Ciena by 1.4% in the fourth quarter. John G Ullman & Associates Inc. now owns 14,600 shares of the communications equipment provider’s stock valued at $657,000 after purchasing an additional 200 shares during the period. Riverwater Partners LLC lifted its position in Ciena by 0.9% in the first quarter. Riverwater Partners LLC now owns 26,281 shares of the communications equipment provider’s stock valued at $1,300,000 after purchasing an additional 237 shares during the period. Treasurer of the State of North Carolina lifted its position in Ciena by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 65,144 shares of the communications equipment provider’s stock valued at $3,079,000 after purchasing an additional 330 shares during the period. Watershed Asset Management L.L.C. lifted its position in Ciena by 7.6% in the fourth quarter. Watershed Asset Management L.L.C. now owns 5,929 shares of the communications equipment provider’s stock valued at $267,000 after purchasing an additional 418 shares during the period. Finally, Mariner LLC lifted its position in Ciena by 3.2% in the third quarter. Mariner LLC now owns 14,345 shares of the communications equipment provider’s stock valued at $678,000 after purchasing an additional 442 shares during the period. Institutional investors and hedge funds own 91.99% of the company’s stock.
Ciena Company Profile
Ciena Corporation provides hardware and software services for delivery of video, data, and voice traffic metro, aggregation, and access communications network worldwide. The company's Networking Platforms segment offers convergence of coherent optical transport, open optical networking, optical transport network switching, IP routing, and switching services.
Recommended Stories
- Five stocks we like better than Ciena
- Using the MarketBeat Stock Split Calculator
- Celebrate July 4th with These Red, White, & Blue Chip Stocks
- Consumer Discretionary Stocks Explained
- AbbVie Stock: A Perfect Dip for Investors to Buy
- What is the NASDAQ Stock Exchange?
- Forget NVIDIA: Super Micro Computer Stock Leads in Momentum
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.