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    Home » Ciena corp SVP Jason Phipps sells $478,052 in stock By Investing.com
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    Ciena corp SVP Jason Phipps sells $478,052 in stock By Investing.com

    userBy userJanuary 6, 2025No Comments2 Mins Read
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    Jason Phipps, the Senior Vice President of Global Sales and Marketing at Ciena Corp (NYSE:), recently sold 5,648 shares of the company’s common stock. The transaction, which took place on January 2, 2025, was conducted as part of a pre-arranged Rule 10b5-1 trading plan. The sale comes as Ciena’s stock has shown remarkable strength, delivering an 80% return over the past year and trading near its 52-week high of $91.82. The shares were sold at a weighted average price of $84.6411, resulting in total proceeds of approximately $478,052. Following this sale, Phipps retains ownership of 109,878 shares, which includes unvested Restricted Stock Units (RSUs) and Performance Stock Units (PSUs). With a market capitalization of $12 billion and strong financial health indicated by a current ratio of 3.54, Ciena appears well-positioned despite trading above its InvestingPro Fair Value. Investors can access 14 additional ProTips and comprehensive valuation metrics through InvestingPro’s detailed research report.

    In other recent news, Ciena Corporation has been the focus of various analyst adjustments. Jefferies affirmed its Buy rating on Ciena, emphasizing the company’s potential for growth driven by AI traffic and the anticipated completion of excess inventory reduction. JPMorgan maintained a Neutral rating but increased the stock’s price target, reflecting optimism about Ciena’s growth prospects driven by substantial investments from cloud customers and telecom operators.

    Simultaneously, Stifel maintained a Buy rating while raising the stock’s price target, highlighting Ciena’s fiscal fourth quarter revenue that exceeded expectations. Needham also maintained a Buy rating and increased its price target, following Ciena’s fiscal fourth quarter results, which showed revenues exceeding consensus forecasts.

    BofA Securities upgraded the company’s shares to Buy from Neutral, citing an improved business outlook and increased order momentum. These developments reflect analysts’ positive outlook on Ciena’s performance and growth potential, as well as the company’s strong market position.

    This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.





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