Ciena Corporation (CIEN) Stock Price & Analysis
Ciena Corporation (CIEN) closed at USD 320.26 on Friday, October 23, 2026, down 0.74% on the day. The US market is currently closed; this is not a live price.
The prior close was USD 322.64; the Oct 23, 2026 session ranged USD 313.45–327.4 on volume of 1,968,736 shares. Market capitalization is $45.42B, with a 52-week range of USD 168.22–637.51 (NYQ). Source: Nexqual, retrieved October 24, 2026 at 10:07 UTC.
Also available as compact Markdown for AI agents: nexqual.com/CIEN.md
Key facts (CIEN)
- Last four reported quarters (through Aug 1, 2026): revenue $6.02B, net income $654M (10.9% margin), free cash flow $814M (SEC filings).
- Valuation: P/E 69.4x (avg 128.8x at the last 3 fiscal year-ends), EV/EBITDA 53.0x, net debt $600M.
- 2 of 80 tracked superinvestors hold CIEN (13F, Q2 2026): 0 new, 0 added, 1 reduced, 1 unchanged.
- Insider open-market sales, last ~7 months: 43 Form 4 filings, $40.1M; 2 not under a Rule 10b5-1 plan ($2.4M); 4 by opportunistic insiders (0 outside 10b5-1 plans), 24 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.00 on a 1–5 scale) (21 analysts), mean target USD 512.99 (range 347–660).
- Total return with dividends: 1Y +78.9% vs S&P 500 +13.4%; 5Y +489.9% vs S&P 500 +76.9%.
- Next earnings: 2026-09-03, EPS estimate USD 1.62, revenue estimate $1.76B.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (CIEN)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $3.62B | $3.63B | $4.39B | $4.01B | $4.77B | $6.02B |
| Gross profit | $1.72B | $1.56B | $1.88B | $1.72B | $2.00B | — |
| Operating income | $495M | $223M | $358M | $167M | $198M | $739M |
| Net income | $500M | $153M | $255M | $84.0M | $123M | $654M |
| EPS (diluted) | $3.19 | $1.00 | $1.71 | $0.58 | $0.85 | — |
| Free cash flow | $462M | -$259M | $62.1M | $378M | $665M | $814M |
| Gross margin | 47.6% | 43.0% | 42.8% | 42.8% | 42.0% | — |
| Operating margin | 13.7% | 6.1% | 8.2% | 4.1% | 4.1% | 12.3% |
| Net margin | 13.8% | 4.2% | 5.8% | 2.1% | 2.6% | 10.9% |
| Revenue growth | +2.5% | +0.3% | +20.8% | -8.5% | +18.8% | — |
| Cash + short-term investments | $1.60B | $1.15B | $1.12B | $1.25B | $1.31B | — |
| Total debt | $677M | $1.07B | $1.56B | $1.54B | $1.54B | — |
Fiscal years end Nov. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Aug 1, 2026) (CIEN)
P/E 69.4x · P/S 7.5x · EV/EBITDA 53.0x · EV/Sales 7.6x · P/FCF 55.8x · P/B 14.9x · FCF yield 1.79% · Earnings yield 1.44% · Buyback yield (TTM) 0.93% · Net debt $600M · EV $46.0B
P/E at fiscal year-ends: Nov 2025 240.5x, Nov 2024 121.2x, Oct 2023 24.7x.
Superinvestors (SEC 13F-HR, Q2 2026) (CIEN)
2 of 80 tracked investors hold CIEN. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Mairs & Power | Mairs & Power Funds | 0.01% | $1.4M | Unchanged |
| First Eagle Investment | First Eagle Investment Management | <0.01% | $981K | Reduced -23.1% |
Insider sales (SEC Form 4, open-market, last ~7 months) (CIEN)
41 of 43 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-10-15 | Gage Brodie | EVP & Chief Product & Tech | 1,200 | $413K | 3.4% | Yes | Too little history (no open-market trades in 2023) |
| 2026-10-15 | Diperna Dino | EVP & Chief R&D Officer | 890 | $309K | 2.4% | Yes | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-10-15 | Smith Gary B | President & CEO | 2,952 | $1.0M | 1.3% | Yes | Routine (sold in Jan & Feb & Mar & Jun each year 2023–2025; this trade is outside those months) |
| 2026-10-15 | Rothenstein David M | EVP & Chief Strategy Officer | 2,500 | $870K | 1.4% | Yes | Routine (sold in Mar & Apr & May & Jun & Jul & Aug & Sep & Oct & Nov & Dec each year 2023–2025) |
| 2026-10-01 | Smith Gary B | President & CEO | 2,952 | $1.1M | 1.3% | Yes | Routine (sold in Jan & Feb & Mar & Jun each year 2023–2025; this trade is outside those months) |
| 2026-10-01 | Graff Marc D. | EVP & Chief Financial Officer | 97 | $34K | 0.1% | Yes | Too little history (no open-market trades in 2023–2025) |
| 2026-10-01 | Kosaraju Sheela | EVP & Chief Legal Officer | 2,101 | $746K | 2.4% | Yes | Too little history (no open-market trades in 2023 or 2024) |
| 2026-10-01 | Phipps Jason | EVP & Chief Customer Officer | 2,629 | $934K | 4.4% | Yes | Routine (sold in Jul & Oct each year 2023–2025) |
| 2026-09-25 | Cumello Joseph | EVP & General Mgr. | 1,586 | $569K | 3.9% | Yes | Routine (sold in Sep each year 2023–2025) |
| 2026-09-24 | Claflin Bruce L. | Director | 2,857 | $1.0M | 4.6% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-09-23 | Nevens Thomas Michael | Director | 3,738 | $1.3M | 51.7% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-09-15…2026-09-16 | Diperna Dino | EVP & Chief R&D Officer | 498 | $168K | 1.3% | Yes | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-09-15 | Smith Gary B | President & CEO | 2,952 | $975K | 1.2% | Yes | Routine (sold in Jan & Feb & Mar & Jun each year 2023–2025; this trade is outside those months) |
| 2026-09-15 | Rothenstein David M | EVP & Chief Strategy Officer | 2,500 | $826K | 1.4% | Yes | Routine (sold in Mar & Apr & May & Jun & Jul & Aug & Sep & Oct & Nov & Dec each year 2023–2025) |
| 2026-09-15 | Gage Brodie | EVP & Chief Product & | 1,200 | $390K | 3.1% | Yes | Too little history (no open-market trades in 2023) |
| 2026-09-01 | Smith Gary B | President, CEO | 2,952 | $1.1M | 1.2% | Yes | Routine (sold in Jan & Feb & Mar & Jun each year 2023–2025; this trade is outside those months) |
| 2026-08-17 | Smith Gary B | President, CEO | 2,952 | $1.3M | 1.2% | Yes | Routine (sold in Jan & Feb & Mar & Jun each year 2023–2025; this trade is outside those months) |
| 2026-08-17 | Gage Brodie | SVP Global Products & Supply | 1,200 | $527K | 3% | Yes | Too little history (no open-market trades in 2023) |
| 2026-08-14 | Graff Marc D. | SVP & Chief Financial Officer | 4,995 | $2.2M | 4.4% | Yes | Too little history (no open-market trades in 2023–2025) |
| 2026-08-14 | Rothenstein David M | SVP and Chief Strategy Officer | 2,500 | $1.1M | 1.4% | Yes | Routine (sold in Mar & Apr & May & Jun & Jul & Aug & Sep & Oct & Nov & Dec each year 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Analysts (CIEN)
Consensus Buy (mean 2.00 on a 1–5 scale), 21 analysts; mean target USD 512.99 (low 347, high 660).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-30 | Bernstein | Initiated | Outperform | $440 |
| 2026-09-21 | Evercore ISI Group | Upgrade | In-Line → Outperform | $375 → $550 |
| 2026-09-17 | Barclays | Target raised | Overweight | $475 → $548 |
| 2026-09-17 | Rosenblatt | Maintained | Buy | $525 |
| 2026-09-17 | Morgan Stanley | Target raised | Equal-Weight | $425 → $450 |
| 2026-09-17 | Needham | Reiterated | Buy | $520 |
| 2026-09-04 | B. Riley Securities | Target lowered | Neutral | $413 → $347 |
| 2026-09-04 | Morgan Stanley | Target lowered | Equal-Weight | $490 → $425 |
| 2026-09-04 | JP Morgan | Target lowered | Overweight | $635 → $605 |
| 2026-09-04 | UBS | Target lowered | Neutral | $508 → $394 |
| 2026-09-04 | TD Cowen | Target lowered | Buy | $575 → $400 |
| 2026-09-04 | Barclays | Target lowered | Overweight | $607 → $475 |
Total return (dividends reinvested) (CIEN)
| 1Y (from 2025-10-24) | 5Y (from 2021-10-25) | |
|---|---|---|
| Total return | +78.9% | +489.9% |
| S&P 500 (SPY) | +13.4% | +76.9% |
| Per year | +79.2% | +42.7% |
| Volatility (annualized) | 77.2% | 49.7% |
| Max drawdown | -49.4% (Jun 2026→Sep 2026) | -48.6% (Dec 2021→Oct 2022) |
CIEN revenue by business segment (quarter ended Aug 1, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Networking Platforms | $1.36B | 81.1% | +44.0% |
| Global Services | $193.6M | 11.6% | +20.8% |
| Platform Software and Services | $98.7M | 5.9% | +9.7% |
| Blue Planet Automation Software and Services | $23.2M | 1.4% | -16.5% |
| Total revenue | $1.67B | 100% | — |
CIEN revenue by product line (quarter ended Aug 1, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Products | $1.39B | 83.2% | +42.3% |
| Optical Networking | $1.19B | 71.3% | +46.1% |
| Services | $280.9M | 16.8% | +15.8% |
| Routing and Switching | $164.4M | 9.8% | +30.6% |
| Total revenue | $1.67B | 100% | — |
CIEN revenue by region (quarter ended Aug 1, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Americas | $1.32B | 78.8% | +42.6% |
| United States | $1.30B | 77.8% | +47.3% |
| EMEA | $180.6M | 10.8% | -2.9% |
| APAC | $173.8M | 10.4% | +58.4% |
| Total revenue | $1.67B | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
CIEN suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | AT&T (T) | “Sales to AT&T were $500.7 million, or 10.5% of total revenue, in fiscal 2025, and $475.3 million, or 11.8% of total revenue, in fiscal 2024.” |
| Competitor | Cisco (CSCO) | “Our competitors include Nokia, Huawei, Cisco, Hewlett Packard Enterprise, and ZTE.” |
| Competitor | Huawei | “Our competitors include Nokia, Huawei, Cisco, Hewlett Packard Enterprise, and ZTE.” |
| Competitor | Hewlett Packard Enterprise (HPE) | “Our competitors include Nokia, Huawei, Cisco, Hewlett Packard Enterprise, and ZTE.” |
| Competitor | Marvell Technology (MRVL) | “In addition, as we advance our interconnects and market expansion strategy to address needs inside and around the data center, we will begin to compete with additional competitors, including Marvell Technology Group, Credo Technology Group, and Broadcom.” |
| Competitor | Credo Technology (CRDO) | “In addition, as we advance our interconnects and market expansion strategy to address needs inside and around the data center, we will begin to compete with additional competitors, including Marvell Technology Group, Credo Technology Group, and Broadcom.” |
| Competitor | Broadcom (AVGO) | “In addition, as we advance our interconnects and market expansion strategy to address needs inside and around the data center, we will begin to compete with additional competitors, including Marvell Technology Group, Credo Technology Group, and Broadcom.” |
| Competitor | ServiceNow (NOW) | “Competitors for our Blue Planet Automation Software include Cisco, Nokia, Amdocs, ServiceNow, Netcracker, and Ericsson.” |
Quoted from the company's 10-K filed Dec 12, 2025.
Companies that name CIEN in their SEC reports
| Relationship to CIEN | Company | Filing | Sentence |
|---|---|---|---|
| supplier | CELESTICA INC (CLS) | 10-K Feb 27, 2026 | “Our CCS segment customers include Amazon Fulfillment Services, Inc., Meta Platforms, Inc., Google Inc., Ciena Corporation, Dell Technologies, Hewlett-Packard Enterprise, and IBM Corporation, Inc. Our ATS segment customers include Applied Materials, Inc., LAM Research and Honeywell Inc. We are focused on strengthening our relationships with strategic customers through the delivery of new and expanding end-to-end so…” |
| customer | COGENT COMMUNICATIONS HOLDINGS, INC. (CCOI) | 10-K Feb 20, 2026 | “We purchase equipment for our Optical Wave Network and optical wave services from Ciena Corporation ("Ciena").” |
CIEN analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Oct 2026) | $1.62 | $1.37 | +17.8% | $1.76B | 5 |
| Next quarter (ends Jan 2027) | $2.36 | $1.99 | +18.4% | $1.84B | 15 |
| Current fiscal year (ends Oct 2026) | $7.17 | $6.54 | +9.6% | $6.42B | 19 |
| Next fiscal year (ends Oct 2027) | $10.33 | $8.01 | +29.0% | $8.41B | 7 |
Key Statistics (as of October 24, 2026 at 10:07 UTC)
| Price | USD 320.26 |
|---|---|
| Change | ▼ 0.74% (down) |
| Previous Close | USD 322.64 |
| Open | USD 325.95 |
| Day Range | USD 313.45 – 327.4 |
| 52-Week Range | USD 168.22 – 637.51 |
| Volume | 1,968,736 shares |
| Market Cap | $45.42B |
| Exchange | NYQ |
Technical Analysis (CIEN)
Nexqual's technical model rates CIEN "SELL" based on 1 bullish and 5 bearish signals across 127 daily candles, as of October 24, 2026 at 10:07 UTC.
| Overall Signal | SELL |
|---|---|
| RSI (14) | 40.05 (neutral) |
| vs SMA50 | Below (USD 370.46) |
| MACD | -10.63 (negative) |
Analyst Ratings (CIEN)
Wall Street analysts rate CIEN "Buy" based on 21 analysts, with a mean price target of USD 512.99 (range USD 347–660), per Nexqual as of October 24, 2026 at 10:07 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 21 |
| Mean Target | USD 512.99 |
| High Target | USD 660 |
| Low Target | USD 347 |
| Buy / Hold / Sell | 16 / 5 / 0 |
Earnings (CIEN)
| Next Earnings Date | 2026-09-03 |
|---|---|
| EPS Estimate | USD 2.08 |
| Revenue Estimate | $1.76B |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-07-31 | USD 2.11 vs est 1.73 ▲ beat |
| 2026-04-30 | USD 1.64 vs est 1.46 ▲ beat |
| 2026-01-31 | USD 1.35 vs est 1.17 ▲ beat |
| 2025-10-31 | USD 0.91 vs est 0.77 ▲ beat |
Source: Nexqual, October 24, 2026 at 10:07 UTC.
Financials & Fundamentals (CIEN)
| Total Revenue | $6.02B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +37.00% |
| Gross Margin | +44.07% |
| Operating Margin | +18.08% |
| Profit Margin | +10.87% |
| ROE | +22.40% |
| Debt / Equity | 1.07 |
| Current Ratio | 3.8 |
| Total Cash | $2.63B |
| Total Debt | $3.29B |
| Free Cash Flow (last four quarters to Aug 2026, SEC 10-Q / 10-K) | $814.36M (13.5% of revenue) |
Source: Nexqual, October 24, 2026 at 10:07 UTC.
Financial Health Score (CIEN)
Nexqual rates Ciena Corporation's overall financial health "Solid" across five dimensions, as of October 24, 2026 at 10:07 UTC.
| Growth | Strong — Revenue +19% YoY (annual) |
|---|---|
| Profitability | Strong — Gross margin 44%, operating 18% (last 12 months) |
| Balance Sheet | Mixed — $2.63B cash and investments vs $3.23B debt (Aug 2026, SEC) |
| Cash Flow | Solid — FCF $814M (last 4 quarters to Aug 2026, SEC), 14% margin |
| Efficiency | Strong — ROE 22%, ROA 7.7% |
Ownership (CIEN)
| Insider Ownership | +0.56% |
|---|---|
| Institutional Ownership | +95.90% |
| Shares Outstanding | 141.81M |
| Float | 141.17M |
| Short % of Float | +4.29% |
Source: Nexqual, October 24, 2026 at 10:07 UTC.
Leadership (CIEN)
Ciena Corporation is led by Gary B. Smith, CEO, President & Director, per Nexqual as of October 24, 2026 at 10:07 UTC.
| CEO, President & Director | Gary B. Smith |
|---|---|
| Senior VP & CFO | Marc D. Graff |
| Senior Vice President of Global Customer Engagement | Jason M. Phipps |
| Senior Vice President of Global Research & Development | Dino DiPerna |
| Senior VP, Chief Strategy Officer & Corporate Secretary | David M. Rothenstein |
Major Backers & Investors (CIEN)
Notable institutional backers of Ciena Corporation include FMR, LLC, JPMorgan, Fidelity, according to Nexqual as of October 24, 2026 at 10:07 UTC.
Active Investors
| Investor | Stake |
|---|---|
| FMR, LLC | 13.48% |
| JPMorgan | 7.9% |
| Fidelity | 6.08% |
| Price (T.Rowe) Associates Inc | 2.87% |
| American Century Companies Inc | 1.31% |
| Bank of America Corporation | 1.26% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| Vanguard Group | 11.93% |
| BlackRock | 8.97% |
| State Street | 4.71% |
| Geode Capital | 2.38% |
Source: Nexqual, October 24, 2026 at 10:07 UTC.
From Ciena Corporation's Latest SEC 10-K Filing (filed 2025-12-12)
Key Strengths & Strategy (as disclosed to the SEC)
- At the heart of our business is our industry-leading portfolio of optical transport and switching systems, powered by our proprietary WaveLogic™ coherent modem technology and supported by our advanced photonic line systems.
- Our cloud provider customers – also referred to in our markets as web-scale, hyper-scale or neo-scale providers – include internet content providers and providers of internet services and infrastructure, including data centers, cloud compute, Software as a Service ("SaaS"), storage, AI, and web hosting services.
- Enterprises and consumers continue to replace locally-housed computing and storage by adopting a broad array of innovative cloud-based models – including Platform as a Service (PaaS), SaaS and Infrastructure as a Service (IaaS) – and an expanding range of cloud-based services that host key applications, store data, enable the viewing and downloading of content, and utilize on-demand computing resources.
- Prior to that, he held several finance positions at Intel, including as Chief Financial Officer for the Sales and Marketing Group and Director of Finance & Administration for Asia-Pacific and Japan.
Partnerships
- We believe that our services offerings, and our close collaboration with our customers, provide us with insight into the network and business challenges they face, allowing us to provide services to meet their desired business outcomes.
Legal & Regulatory Risks (Item 1A, quoted)
- We and our business partners have been, and may be in the future, subjected to cybersecurity incidents including ransomware attacks, exploitation, intrusion, disruption and other attempts to gain unauthorized access.
- Legal proceedings, including government investigations and other claims or disputes, may be costly to defend and could adversely affect our business.
- We are, from time to time, subject to claims, lawsuits, government investigations, and other legal proceedings that may arise in the ordinary course of business.
- Government regulations affecting our industry could harm our business and results of operations.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| NOK | Nokia Corporation Sponsored | USD 8.14 | ▲ 3.3% |
| UI | Ubiquiti Inc. | USD 587.42 | ▼ 1.38% |
| ERIC | Ericsson | USD 10.66 | ▲ 2.7% |
| LITE | Lumentum Holdings Inc. | USD 756.17 | ▲ 0.48% |
| HPE | Hewlett Packard Enterprise Comp | USD 56.69 | ▲ 2.2% |
| MSI | Motorola Solutions, Inc. | USD 481.83 | ▲ 0.84% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 24, 2026 at 10:07 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt