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Ciena Corporation
Type
Public
Traded as NYSE: CIEN
S&P 400 Component
Industry Telecommunications equipment
Founded 1992; 25 years ago (1992)
Headquarters Hanover, Maryland, United States
Key people
Patrick Nettles
(executive chairman)
Gary Smith
(president and CEO)
Products Networking systems and products
Revenue $2.6 billion USD
Net income
$72.6 million USD
Number of employees
5600
Website www.ciena.com

Ciena Corporation is a United States-based global supplier of telecommunications networking equipment, software, and services. The company was founded in 1992 and is headquartered in Hanover, Maryland.

Ciena was founded in 1992 by David Huber and Kevin Kimberlin, employees with Chicago, Illinois-based General Instrument (GI). GI had developed wave-division multiplexing (WDM) technology as a means to increase bandwidth for cable TV transmissions, but were unable to commercialize it. Huber spun the technology off into Ciena. In 1994, Dallas, Texas-based venture caspital firm Sevin Rosen invested $3.3 million in Ciena's Series A Venture financing.

In late 1994, during the transition of the first high-speed optical backbone from public sector control of the National Science Foundation to private companies, Ciena began working with Sprint – an earlier carrier of Internet traffic – to develop "high-capacity fiber optic transmission systems called dense wave division multiplexing (DWDM)." The outcome of their effort was the first commercial dense wave division multiplexing system. With it, the capacity increased "Sprint's nationwide, all-digital fiber-optic network by a stunning 1,600 percent." Sprint therefore became the world's largest carrier of Internet traffic. With success from Sprint and others, Ciena's "first-year sales were the highest ever recorded by a start-up."

In February 1997 Ciena pulled off the biggest initial public offering of a startup company ever, with a first-day valuation of $3.4 billion. Subsequently, Goldman Sachs, in a research note, commented on the records set by Ciena: "1) steepest revenue ramp for any company in history, 2) most profitable company ever in its first year of product shipments, and 3) largest market capitalization of any new IPO." By 2001, Ciena had achieved annual revenues of $1.6 billion and a marketing capitalization of nearly $30 billion.

Despite setbacks along the way, Ciena continued to grow over the next few years, by both introducing new products and by acquiring companies such as Lightera (optical switches) and Omnia (local access equipment). With a broader product line, Ciena's customer base had grown from a small handful to 27 companies as network operators continued building their systems.

In 2000, Ciena announced the MultiWave Metro optical transport solution, which allowed metropolitan area networks to deliver particular frequencies to individual customer premises. By June 2000, Ciena's stock had soared to $120 per share, giving it a market capitalization exceeding $30 billion. Sales of the company's new line of products prompted the investor optimism, though some analysts were beginning to wonder whether the U.S. fiber optic network had been overbuilt. The customer list continued to grow as it approached 50 names.

During 2001, the telecommunications market went through a severe downturn, and the segment that included Ciena's optical networking equipment fell by nearly 2/3 to $9.1 billion and in 2002, Ciena's revenues had declined 80% to $361 million. To address the firm's challenges, Gary Smith, previously president and head of sales, was named CEO in May 2001, and Patrick Nettles, CEO since 1994, became executive chairman.

Over the next few years, Ciena re-grouped by expanding its product portfolio to include a broader range of advanced networking solutions, including optical switching, new generation hybrid gear and Ethernet technologies.

Ciena accomplished its diversification effort with internal development as well as a series of acquisitions and strategic partnerships. By 2004 Ciena had purchased a total of 11 firms (half prior to the downturn) with an aggregate value of over $3.3 billion. With a broader range of offerings, Ciena was able both to offer its existing customers a wider range of solutions as well as compete for new customers in additional segments and regions.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q4 2020 2020-12-10 Future report Set alerts
Q3 2020 2020-09-03 1.06 0.91
Q2 2020 2020-06-04 0.76 0.60
Q1 2020 2020-03-05 0.52 0.40
Q4 2019 2019-12-12 0.58 0.51
Q3 2019 2019-09-05 0.71 0.55
Q2 2019 2019-06-06 0.48 0.33
Q1 2019 2019-03-05 0.33 0.21
Q4 2018 2018-12-13 0.53 0.34
Q3 2018 2018-08-30 0.48 0.34

Ratings

2016-06-06 Boost Price Target MKM Partners Buy $21.00 to $26.00
2016-06-06 Reiterated Rating Bank of America Buy $25.00 to $21.03
2016-06-06 Boost Price Target Deutsche Bank Hold $15.00 to $17.00
2016-06-06 Reiterated Rating Bank of America Corp. Buy $25.00 to $21.03
2016-06-06 Boost Price Target Deutsche Bank AG Hold $15.00 to $17.00
2016-06-05 Reiterated Rating B. Riley Buy $26.50
2016-06-04 Reiterated Rating Citigroup Inc. Hold
2016-06-03 Reiterated Rating Needham & Company LLC Buy $30.00
2016-06-03 Boost Price Target Jefferies Group Buy $23.00 to $25.00
2016-06-03 Boost Price Target Citigroup Inc. Neutral $18.00 to $21.00
2016-06-03 Reiterated Rating Nomura Buy $24.00
2016-06-03 Reiterated Rating Nomura Holdings Inc. Buy $24.00
2016-06-01 Reiterated Rating BMO Capital Markets Buy
2016-05-31 Reiterated Rating B. Riley Buy $25.75
2016-05-31 Reiterated Rating Deutsche Bank Hold $15.00 to $17.00
2016-05-31 Reiterated Rating Morgan Stanley Buy $23.00
2016-05-26 Reiterated Rating Nomura Buy $24.00
2016-05-26 Reiterated Rating MKM Partners Buy
2016-04-09 Reiterated Rating BMO Capital Markets Buy
2016-04-09 Reiterated Rating Nomura Buy
2016-04-08 Initiated Coverage Drexel Hamilton Buy $22.00
2016-03-22 Reiterated Rating Bank of America Buy $23.00
2016-03-21 Reiterated Rating William Blair Outperform
2016-03-07 Reiterated Rating Needham & Company LLC Buy $30.00
2016-03-06 Reiterated Rating B. Riley Buy $25.75
2016-03-06 Reiterated Rating Deutsche Bank Hold
2016-03-05 Reiterated Rating Nomura Buy $27.00 to $24.00
2016-03-05 Reiterated Rating Dougherty & Co Buy
2016-03-05 Reiterated Rating Wells Fargo Buy
2016-03-05 Reiterated Rating Wells Fargo & Co. Buy
2016-03-04 Reiterated Rating Jefferies Group Buy $25.00 to $23.00
2016-03-04 Lower Price Target MKM Partners Buy $26.00 to $23.00
2016-03-04 Lower Price Target Stifel Nicolaus Buy $30.00 to $25.00
2016-03-03 Reiterated Rating Northland Securities Buy
2016-03-02 Reiterated Rating William Blair Buy
2016-03-01 Upgrade B. Riley Buy $29.75
2016-03-01 Reiterated Rating Cowen and Company Buy
2016-02-20 Reiterated Rating JPMorgan Chase & Co. Overweight
2016-01-27 Initiated Coverage Citigroup Inc. Neutral $21.00
2016-01-20 Reiterated Rating William Blair Outperform
2016-01-12 Upgrade Morgan Stanley Equal Weight to Overweight $25.00 to $23.00
2015-12-21 Upgrade Jefferies Group Hold to Buy $22.50 to $25.00
2015-12-15 Reiterated Rating Needham & Company LLC Buy $30.00
2015-12-14 Lower Price Target Jefferies Group Hold $26.00 to $22.50
2015-12-14 Reiterated Rating Argus Buy $30.00
2015-12-13 Lower Price Target B. Riley Buy $30.75 to $29.75
2015-12-12 Reiterated Rating RBC Capital Buy
2015-12-12 Reiterated Rating Royal Bank Of Canada Buy
2015-12-11 Reiterated Rating BMO Capital Markets Buy $30.00 to $25.00
2015-12-11 Lower Price Target Deutsche Bank Hold $25.00 to $18.00
2015-12-11 Lower Price Target MKM Partners Buy $29.00 to $26.00
2015-12-11 Lower Price Target RBC Capital Outperform $28.00 to $25.00
2015-12-10 Upgrade Northland Securities Market Perform to Outperform $25.00
2015-12-10 Reiterated Rating William Blair Outperform
2015-12-08 Lower Price Target B. Riley Buy $30.75 to $29.75
2015-12-07 Reiterated Rating Needham & Company LLC Buy $30.00
2015-11-10 Reiterated Rating William Blair Outperform
2015-10-26 Boost Price Target Raymond James Outperform $27.00 to $28.00
2015-10-26 Boost Price Target Raymond James Financial Inc. Outperform $27.00 to $28.00
2015-10-09 Initiated Coverage Morgan Stanley Equal to Equal Weight $25.00
2015-10-05 Reiterated Rating Needham & Company LLC Buy $30.00
2015-09-23 Initiated Coverage Stephens Overweight
2015-09-22 Reiterated Rating Goldman Sachs Buy
2015-09-22 Reiterated Rating Goldman Sachs Group Inc. Buy
2015-09-20 Reiterated Rating Deutsche Bank Hold
2015-09-09 Upgrade RBC Capital Sector Perform to Outperform $26.00 to $28.00
2015-09-08 Reiterated Rating S&P Equity Research Hold $26.00
2015-09-08 Reiterated Rating Goldman Sachs Buy
2015-09-06 Reiterated Rating B. Riley Buy $30.75
2015-09-04 Reiterated Rating MKM Partners Buy $29.00
2015-09-04 Reiterated Rating William Blair Buy
2015-09-04 Reiterated Rating BMO Capital Markets Buy $30.00
2015-09-04 Downgrade Deutsche Bank Buy to Hold $28.00 to $25.00
2015-09-03 Reiterated Rating Wells Fargo & Co. Buy
2015-09-03 Reiterated Rating Nomura Buy
2015-09-03 Reiterated Rating Wells Fargo Buy
2015-09-02 Reiterated Rating Needham & Company LLC Buy $30.00
2015-08-31 Reiterated Rating B. Riley Buy $30.75
2015-08-26 Upgrade Raymond James Market Perform to Outperform $27.00
2015-08-25 Reiterated Rating Nomura Buy $29.00
2015-08-25 Reiterated Rating Deutsche Bank Buy $28.00
2015-08-18 Initiated Coverage Northland Securities Outperform to Market Perform $25.00
2015-07-26 Initiated Coverage B. Riley Buy $30.75
2015-07-21 Initiated Coverage B. Riley Buy $30.75
2015-06-15 Reiterated Rating RBC Capital Sector Perform $28.00 to $30.00
2015-06-08 Reiterated Rating Wedbush Neutral $24.00 to $27.00
2015-06-06 Reiterated Rating Citigroup Inc. Neutral $22.00 to $26.00
2015-06-05 Boost Price Target Argus Buy $25.00 to $30.00
2015-06-04 Reiterated Rating JPMorgan Chase & Co. Buy
2015-06-04 Set Price Target Needham & Company LLC Buy $26.00 to $30.00
2015-06-04 Boost Price Target MKM Partners Buy $27.00 to $29.00
2015-06-03 Boost Price Target Dougherty & Co Buy $27.00 to $30.00
2015-06-02 Initiated Coverage Nomura Buy $29.00
2015-06-01 Reiterated Rating Deutsche Bank Buy $24.00 to $26.00
2015-05-26 Boost Price Target RBC Capital Sector Perform $21.00 to $28.00
2015-05-20 Set Price Target MKM Partners Buy $25.00 to $27.00
2015-05-04 Set Price Target Needham & Company LLC Buy $26.00
2015-03-18 Reiterated Rating Deutsche Bank Buy $24.00
2015-03-06 Set Price Target Needham & Company LLC Buy $26.00
2015-03-06 Boost Price Target BMO Capital Markets Outperform $25.00 to $26.00
2015-03-02 Reiterated Rating Wedbush Hold $21.00 to $24.00
2015-02-25 Boost Price Target Northland Securities Outperform $23.00 to $25.00
2015-02-23 Set Price Target MKM Partners Buy $25.00
2015-01-16 Set Price Target Needham & Company LLC Buy $26.00
2015-01-07 Reiterated Rating MKM Partners Buy
2014-12-15 Initiated Coverage Wedbush Neutral
2014-12-12 Lower Price Target Needham & Company LLC Buy $31.00 to $26.00
2014-12-11 Reiterated Northland Capital Outperform $20 to $23
2014-12-11 Boost Price Target Northland Securities Outperform $20.00 to $23.00
2014-12-01 Reiterated Rating MKM Partners Buy
2014-11-21 Initiated Coverage Northland Securities Outperform $20.00
2014-11-10 Lower Price Target RBC Capital Hold $18.00 to $16.00
2014-09-05 Reiterated Dougherty & Company Buy $34 to $32
2014-09-05 Lower Price Target Deutsche Bank $30.00 to $26.00
2014-09-05 Lower Price Target MKM Partners Buy to Buy $28.00 to $25.00
2014-09-05 Lower Price Target Nomura Buy $30.00 to $24.00
2014-09-05 Lower Price Target Dougherty & Co Buy $34.00 to $32.00
2014-09-05 Lower Price Target RBC Capital Outperform $21.00 to $19.00
2014-09-05 Upgrade Goldman Sachs Neutral to Buy $18.51 to $26.00
2014-09-05 Lower Price Target BMO Capital Markets Outperform $30.00 to $24.00
2014-08-19 Lower Price Target RBC Capital Sector Perform $24.00 to $21.00
2014-06-06 Lower Price Target Cowen and Company $32.00 to $31.00
2014-06-05 Reiterated Rating Wells Fargo & Co. Outperform
2014-06-05 Reiterated Rating Wells Fargo Outperform
2014-06-03 Reiterated Rating Citigroup Inc. Neutral $25.00 to $22.00
2014-05-22 Lower Price Target MKM Partners Buy $32.00 to $28.00
2014-05-12 Upgrade Ned Davis Research Sell to Neutral
2014-04-24 Upgrade UBS Neutral to Buy $25 to $27
2014-04-08 Initiated Coverage National Alliance Securities Buy $27.00
2014-03-28 Downgrade RBC Capital Outperform to Sector Perform $28.00
2014-03-07 Reiterated UBS Neutral $23 to $25
2014-03-07 Boost Price Target RBC Capital Outperform $26.00 to $28.00
2014-03-06 Reiterated Dougherty & Company Buy $32 to $34
2014-03-06 Boost Price Target Dougherty & Co Buy $32.00 to $34.00
2014-03-04 Reiterated Rating Needham & Company LLC In-Line
2014-03-04 Boost Price Target BMO Capital Markets $26.00 to $27.00
2014-02-19 Initiated Coverage Dougherty & Co Buy
2014-02-18 Boost Price Target MKM Partners Buy $28.00 to $32.00
2014-02-18 Boost Price Target Nomura $30.00
2014-02-18 Reiterated Rating William Blair Positive
2014-02-18 Boost Price Target Evercore ISI $28.00 to $32.00
2013-12-13 Reiterated Rating Deutsche Bank Buy $27.00 to $26.00
2013-12-13 Upgrade RBC Capital Market Perform to Outperform
2013-12-13 Reiterated Rating Nomura Buy $24.00
2013-12-13 Upgrade BMO Capital Markets Market Perform to Outperform $25.00 to $26.00
2013-12-13 Lower Price Target FBR & Co. Outperform $30.00 to $28.00
2013-12-12 Initiated Coverage Jefferies Group Neutral
2013-12-10 Initiated Coverage Citigroup Inc. Neutral $25.00
2013-11-22 Reiterated Rating Argus Sell $28.00
2013-10-14 Reiterated FBR Capital Outperform $28 to $30
2013-10-14 Reiterated Rating RBC Capital Buy $28.00
2013-10-14 Boost Price Target FBR & Co. Outperform $28.00 to $30.00
2013-10-07 Reiterated Rating Needham & Company LLC Buy $28.00 to $31.00
2013-10-02 Boost Price Target RBC Capital Outperform $24.00 to $28.00
2013-09-05 Reiterated Stifel Buy $24 to $27
2013-09-05 Reiterated Northland Capital Outperform $26 to $28
2013-09-05 Reiterated FBR Capital Outperform $20 to $28
2013-08-27 Reiterated MKM Partners Buy $28
2013-07-29 Reiterated Needham Buy $22 to $28
2013-07-17 Initiated William Blair Outperform
2013-06-14 Reiterated Stifel Buy $22 to $24
2013-06-07 Reiterated Needham Buy $19 to $22
2013-06-06 Reiterated Mizuho Buy $20 to $22
2016-06-06 Boost Price Target MKM Partners Buy $21.00 to $26.00
2016-06-06 Reiterated Rating Bank of America Buy $25.00 to $21.03
2016-06-06 Boost Price Target Deutsche Bank Hold $15.00 to $17.00
2016-06-06 Reiterated Rating Bank of America Corp. Buy $25.00 to $21.03
2016-06-06 Boost Price Target Deutsche Bank AG Hold $15.00 to $17.00

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
SMITH GARY B PRESIDENT, CEO 0.61%  (648975) CIEN / CVLT /
NETTLES PATRICK H 0.40%  (423865) ACLS / CIEN / PGR /
MOYLAN JAMES E JR SVP Finance, CFO 0.36%  (385015) CIEN /
Rothenstein David M Sr. VP, General Counsel 0.27%  (285002) CIEN /
Locoh-Donou Francois SVP, Global Products Group 0.27%  (282568) CIEN / FFIV /
Morin Philippe SVP, Global Field Organization 0.20%  (215988) CIEN /
FRODSHAM JAMES SR. VP, Chief Strategy Officer 0.16%  (169617) CIEN /
ALEXANDER STEPHEN B Sr VP Chief Technology Officer 0.12%  (130404) CIEN /
CASH HARVEY B 0.11%  (113459) AGII / CIEN / FAC / SLAB /
Dodd James Richard JR SVP, Global Marketing 0.10%  (107334) CIEN /
FITT LAWTON W 0.09%  (96274) CG / CIEN / PGR /
Rowny Michael J 0.09%  (95917) CIEN / NSR /
Claflin Bruce L. 0.08%  (83688) AMD / CIEN / IDXX /
OBRIEN JUDITH M 0.07%  (78965) CIEN /
Starke Marcus H SVP, Chief Marketing Officer 0.06%  (67695) CIEN / MSTR /
McFeely Scott SVP, Networking Platforms 0.06%  (66398) CIEN /
HAMILTON RICK SVP, Software and Services 0.06%  (59789) CIEN /
GALLAGHER PATRICK 0.05%  (53805) CIEN / HLIT /
PETRIK ANDREW C VP, CONTROLLER 0.05%  (52805) CIEN /
Phipps Jason SVP Global Sales and Marketing 0.05%  (49639) CIEN /
NEVENS THOMAS MICHAEL 0.04%  (42391) BVSN / CIEN / NTAP /
FATHERS WILLIAM D 0.01%  (12433) CIEN /

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