Ciena Corporation (NYSE:CIEN)‘s stock had its “buy” rating reaffirmed by equities research analysts at Piper Jaffray Companies in a report released on Thursday.

Several other research firms also recently commented on CIEN. BidaskClub downgraded shares of Ciena Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Zacks Investment Research downgraded shares of Ciena Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Stifel Nicolaus reissued a “buy” rating and set a $32.00 target price on shares of Ciena Corporation in a research report on Friday, July 21st. William Blair reissued a “buy” rating on shares of Ciena Corporation in a research report on Thursday, August 3rd. Finally, TheStreet raised shares of Ciena Corporation from a “c+” rating to a “b” rating in a research report on Monday, June 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $29.53.

Ciena Corporation (NYSE:CIEN) last announced its quarterly earnings data on Thursday, August 31st. The communications equipment provider reported $0.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.02. Ciena Corporation had a return on equity of 25.53% and a net margin of 4.99%. The business had revenue of $728.70 million during the quarter, compared to analyst estimates of $726.81 million. During the same period last year, the company earned $0.42 earnings per share. Ciena Corporation’s quarterly revenue was up 8.7% compared to the same quarter last year.

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In other Ciena Corporation news, CEO Gary B. Smith sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $26.25, for a total transaction of $105,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP David M. Rothenstein sold 2,000 shares of Ciena Corporation stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $25.69, for a total transaction of $51,380.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 86,310 shares of company stock valued at $1,995,014. Corporate insiders own 1.45% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Ciena Corporation by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,690 shares of the communications equipment provider’s stock valued at $518,000 after acquiring an additional 58 shares during the last quarter. Capstone Asset Management Co. raised its stake in shares of Ciena Corporation by 1.3% in the second quarter. Capstone Asset Management Co. now owns 10,490 shares of the communications equipment provider’s stock valued at $262,000 after acquiring an additional 130 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Ciena Corporation by 1.9% in the second quarter. Nisa Investment Advisors LLC now owns 10,740 shares of the communications equipment provider’s stock valued at $269,000 after acquiring an additional 200 shares during the last quarter. World Asset Management Inc raised its stake in shares of Ciena Corporation by 2.8% in the second quarter. World Asset Management Inc now owns 8,935 shares of the communications equipment provider’s stock valued at $224,000 after acquiring an additional 243 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its stake in shares of Ciena Corporation by 2.7% in the second quarter. Teacher Retirement System of Texas now owns 11,289 shares of the communications equipment provider’s stock valued at $282,000 after acquiring an additional 300 shares during the last quarter.

Ciena Corporation 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.

Analyst Recommendations for Ciena Corporation (NYSE:CIEN)

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