MKM Partners reaffirmed their positive rating on shares of Ciena Corp. (NYSE:CIEN) in a research report sent to investors on Friday morning. MKM Partners currently has a $28.00 price target on the stock.

Several other equities research analysts also recently commented on CIEN. Citigroup Inc. boosted their target price on shares of Ciena Corp. from $21.00 to $23.00 and gave the stock a hold rating in a research report on Thursday, August 25th. Deutsche Bank AG boosted their target price on shares of Ciena Corp. from $17.00 to $18.50 and gave the stock a hold rating in a research report on Monday, August 29th. B. Riley reissued a buy rating and set a $26.50 target price on shares of Ciena Corp. in a research report on Tuesday, August 30th. Dougherty & Co boosted their target price on shares of Ciena Corp. from $25.00 to $26.00 and gave the stock a buy rating in a research report on Friday, September 2nd. Finally, Morgan Stanley downgraded shares of Ciena Corp. from an overweight rating to an equal weight rating and decreased their target price for the stock from $23.17 to $23.00 in a research report on Friday, September 2nd. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $25.36.

Analyst Recommendations for Ciena Corp. (NYSE:CIEN)

Shares of Ciena Corp. (NYSE:CIEN) traded up 0.31% on Friday, hitting $22.40. 656,233 shares of the stock traded hands. Ciena Corp. has a 52 week low of $15.62 and a 52 week high of $25.46. The stock has a 50 day moving average price of $21.93 and a 200-day moving average price of $19.53. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of 138.27 and a beta of 1.68.

Ciena Corp. (NYSE:CIEN) last posted its earnings results on Thursday, September 1st. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.38 by $0.04. The company earned $670.60 million during the quarter, compared to the consensus estimate of $672.23 million. Ciena Corp. had a net margin of 0.86% and a return on equity of 22.41%. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.37 earnings per share. On average, equities research analysts forecast that Ciena Corp. will post $1.43 EPS for the current year.

In other Ciena Corp. news, VP David M. Rothenstein sold 2,000 shares of the firm’s stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $19.57, for a total transaction of $39,140.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gary B. Smith sold 8,000 shares of the firm’s stock in a transaction dated Thursday, July 14th. The shares were sold at an average price of $19.65, for a total transaction of $157,200.00. The disclosure for this sale can be found here. 1.72% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in CIEN. Jacobs Levy Equity Management Inc. raised its stake in Ciena Corp. by 11.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 389,840 shares of the company’s stock worth $7,415,000 after buying an additional 40,010 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Ciena Corp. by 16.2% in the first quarter. Envestnet Asset Management Inc. now owns 42,226 shares of the company’s stock worth $803,000 after buying an additional 5,883 shares in the last quarter. Geode Capital Management LLC raised its stake in Ciena Corp. by 6.9% in the first quarter. Geode Capital Management LLC now owns 814,749 shares of the company’s stock worth $15,495,000 after buying an additional 52,291 shares in the last quarter. Nicholas Investment Partners LP raised its stake in Ciena Corp. by 3.3% in the first quarter. Nicholas Investment Partners LP now owns 184,369 shares of the company’s stock worth $3,507,000 after buying an additional 5,970 shares in the last quarter. Finally, UBS Group AG raised its stake in Ciena Corp. by 314.6% in the first quarter. UBS Group AG now owns 55,824 shares of the company’s stock worth $1,062,000 after buying an additional 81,832 shares in the last quarter. Institutional investors and hedge funds own 92.51% of the company’s stock.

Ciena Corp. Company Profile

Ciena Corporation is a network specialist that focuses on providing communications networking solutions. The Company operates through four segments: Converged Packet Optical, Packet Networking, Optical Transport, and Software and Services. Its Converged Packet Optical portfolio includes networking solutions optimized for the convergence of coherent optical transport, optical transport network (OTN) switching and packet switching.

5 Day Chart for NYSE:CIEN

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