CIEN

Ciena Corporation

Technology · $47.8B market cap

Share price

$391.34

close of Oct 3, 2026

Fair value

$107.46

Sticker Price

Payback Price

$42.98

buy price

Overpriced

CIEN is Overpriced: at $391.34 it trades 264% above its fair value of $107.46. Its buy price (Payback Price) is $42.98, 89% below today's price. Business quality is limited: only 1 of 5 key numbers clears the 10% bar.

How we valued it

Sales-Based (P/S). Its earnings are small compared with its price, so no reasonable earnings multiple can value it. We value it on its sales instead, at the price-to-sales ratio it has typically traded at.

Business quality

1 of 5 clear the 10% bar. What are the Big Five?

Earnings per share growth6.7% a year✗

Equity per share growth4.9% a year✗

Sales growth9.4% a year✗

Free cash flow growth13.1% a year✓

Return on invested capital4.9%✗

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Superinvestors

2 of the investors we track hold CIEN. In Q2 2026, 1 trimmed and 1 sold out. Who we track

Mairs & Power Funds

Mairs & Power Funds · as of Q2 2026

$1.4M

2,800 shares

First Eagle Investment Management

First Eagle Investment Management · as of Q2 2026

$981K

2,000 shares

Moves in Q2 2026

Trimmed: First Eagle Investment Management

Sold out: Stephen Mandel

Insider activity

Since Sep 1, 2026: no open-market purchases and 1 sale worth $1.1M. Why purchases matter

Sales

SMITH GARY B

President, CEO · 2026-09-01

Sold

$1.1M

About Ciena Corporation

Ciena Corporation is a global technology company focused on telecommunications infrastructure. It delivers integrated solutions – including specialized hardware, software applications, and professional services – designed to facilitate the efficient transmission, routing, switching, aggregation, delivery, and overall management of video, data, and voice traffic across communication networks worldwide. Within its…

Communication Equipment