Ciena Corporation (NYSE:CIEN)‘s stock had its “buy” rating reaffirmed by investment analysts at Stifel Nicolaus in a report released on Friday.

A number of other research analysts have also issued reports on CIEN. ValuEngine raised Ciena Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. BidaskClub lowered Ciena Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Zacks Investment Research lowered Ciena Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. William Blair reaffirmed a “buy” rating on shares of Ciena Corporation in a report on Thursday, August 3rd. Finally, Northland Securities set a $32.00 target price on Ciena Corporation and gave the stock a “buy” rating in a report on Monday, August 7th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $29.53.

Shares of Ciena Corporation (NYSE:CIEN) traded down $1.51 during midday trading on Friday, hitting $19.76. 7,175,856 shares of the company were exchanged, compared to its average volume of 2,937,828. The firm has a market cap of $2.82 billion, a P/E ratio of 14.32 and a beta of 1.64.

Ciena Corporation (NYSE:CIEN) last issued its quarterly earnings data on Thursday, August 31st. The communications equipment provider reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.02. Ciena Corporation had a net margin of 4.99% and a return on equity of 25.53%. The business had revenue of $728.70 million for the quarter, compared to analysts’ expectations of $726.81 million. During the same period in the previous year, the business earned $0.42 earnings per share. The company’s revenue was up 8.7% on a year-over-year basis. sell-side analysts expect that Ciena Corporation will post 1.51 EPS for the current fiscal year.

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In other news, CEO Gary B. Smith sold 12,634 shares of the business’s stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $21.25, for a total transaction of $268,472.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP James E. Moylan, Jr. sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $24.65, for a total value of $49,300.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 88,310 shares of company stock worth $1,958,204. Company insiders own 1.45% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in 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 period. Capstone Asset Management Co. grew its position in 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 period. Nisa Investment Advisors LLC grew its position in 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 period. World Asset Management Inc grew its position in 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 period. Finally, Teacher Retirement System of Texas grew its position in 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 period.

About Ciena Corporation

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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