Ciena Corporation (NYSE:CIEN) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

CIEN has been the topic of a number of other research reports. BMO Capital Markets restated an “outperform” rating and issued a $32.00 price target (up previously from $30.00) on shares of Ciena Corporation in a research report on Saturday, June 3rd. Instinet restated a “buy” rating and issued a $30.00 price target (up previously from $27.00) on shares of Ciena Corporation in a research report on Saturday, June 3rd. Deutsche Bank AG restated a “hold” rating and issued a $24.00 price target (up previously from $23.00) on shares of Ciena Corporation in a research report on Saturday, June 3rd. MKM Partners restated a “buy” rating and issued a $32.00 price target (up previously from $30.00) on shares of Ciena Corporation in a research report on Friday, June 2nd. Finally, B. Riley restated a “buy” rating and issued a $34.00 price target on shares of Ciena Corporation in a research report on Sunday, June 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $30.19.

Shares of Ciena Corporation (CIEN) traded up 2.11% during trading on Monday, reaching $24.68. 1,959,074 shares of the company traded hands. The firm has a market capitalization of $3.50 billion, a price-to-earnings ratio of 32.60 and a beta of 1.61. The company has a 50 day moving average price of $25.53 and a 200 day moving average price of $24.50. Ciena Corporation has a 12-month low of $18.94 and a 12-month high of $27.98.

Ciena Corporation (NYSE:CIEN) last posted its earnings results on Thursday, June 1st. The communications equipment provider reported $0.45 EPS for the quarter, topping the consensus estimate of $0.37 by $0.08. Ciena Corporation had a net margin of 4.13% and a return on equity of 25.56%. The business had revenue of $707.02 million for the quarter, compared to the consensus estimate of $694.84 million. During the same period last year, the company earned $0.34 EPS. The firm’s revenue was up 10.3% compared to the same quarter last year. On average, equities analysts predict that Ciena Corporation will post $1.77 EPS for the current year.

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In other news, VP David M. Rothenstein sold 2,000 shares of the company’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $24.19, for a total value of $48,380.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Patrick Gallagher sold 3,000 shares of the company’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $26.29, for a total transaction of $78,870.00. The disclosure for this sale can be found here. Insiders have sold a total of 75,850 shares of company stock valued at $1,929,421 in the last 90 days. 1.45% of the stock is currently owned by company insiders.

Several hedge funds have recently bought and sold shares of CIEN. BlackRock Inc. raised its stake in Ciena Corporation by 11,733.7% in the first quarter. BlackRock Inc. now owns 15,755,200 shares of the communications equipment provider’s stock valued at $371,979,000 after buying an additional 15,622,062 shares during the last quarter. Vanguard Group Inc. raised its stake in Ciena Corporation by 1.7% in the second quarter. Vanguard Group Inc. now owns 12,466,282 shares of the communications equipment provider’s stock valued at $311,906,000 after buying an additional 203,112 shares during the last quarter. TIAA CREF Investment Management LLC raised its stake in Ciena Corporation by 36.4% in the first quarter. TIAA CREF Investment Management LLC now owns 8,553,894 shares of the communications equipment provider’s stock valued at $201,957,000 after buying an additional 2,283,352 shares during the last quarter. Teachers Advisors LLC raised its stake in Ciena Corporation by 21.1% in the first quarter. Teachers Advisors LLC now owns 4,900,040 shares of the communications equipment provider’s stock valued at $115,690,000 after buying an additional 853,793 shares during the last quarter. Finally, State Street Corp raised its stake in Ciena Corporation by 3.9% in the second quarter. State Street Corp now owns 4,648,540 shares of the communications equipment provider’s stock valued at $116,319,000 after buying an additional 172,876 shares during the last quarter.

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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