Oclaro Inc. (OCLR) Coverage Initiated by Analysts at Jefferies Group
Jefferies Group began coverage on shares of Oclaro Inc. (NASDAQ:OCLR) in a research report issued to clients and investors on Monday. The firm set a “buy” rating on the stock.
OCLR has been the topic of several other reports. MKM Partners reissued a “buy” rating on shares of Oclaro in a report on Monday, June 6th. Zacks Investment Research upgraded shares of Oclaro from a “hold” rating to a “strong-buy” rating and set a $8.50 target price on the stock in a research report on Wednesday, August 17th. Needham & Company LLC restated a “strong-buy” rating and set a $8.00 target price (up previously from $7.50) on shares of Oclaro in a research report on Wednesday, August 3rd. Piper Jaffray Cos. restated an “overweight” rating and set a $9.00 target price on shares of Oclaro in a research report on Wednesday, September 7th. Finally, Cowen and Company began coverage on shares of Oclaro in a research report on Monday, August 8th. They set an “outperform” rating and a $9.00 target price on the stock. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and three have assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $7.95.
Oclaro (NASDAQ:OCLR) opened at 8.55 on Monday. Oclaro has a 1-year low of $2.37 and a 1-year high of $9.34. The company has a market cap of $1.26 billion, a PE ratio of 109.62 and a beta of 1.82. The stock has a 50 day moving average of $8.14 and a 200-day moving average of $5.87.
Oclaro (NASDAQ:OCLR) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.05. The firm had revenue of $125.20 million for the quarter, compared to analysts’ expectations of $119.41 million. Oclaro had a net margin of 2.10% and a return on equity of 6.24%. The business’s revenue was up 52.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.06) EPS. On average, equities research analysts predict that Oclaro will post $0.39 earnings per share for the current year.
In other news, EVP Lisa Paul sold 9,363 shares of the firm’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $7.69, for a total transaction of $72,001.47. Following the completion of the transaction, the executive vice president now owns 218,264 shares of the company’s stock, valued at $1,678,450.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Adam Carter sold 19,506 shares of the firm’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $6.00, for a total transaction of $117,036.00. Following the transaction, the insider now directly owns 202,584 shares of the company’s stock, valued at approximately $1,215,504. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Bayesian Capital Management LP acquired a new position in Oclaro during the first quarter valued at about $107,000. Peconic Partners LLC increased its position in Oclaro by 100.0% in the first quarter. Peconic Partners LLC now owns 20,000 shares of the company’s stock valued at $108,000 after buying an additional 10,000 shares during the last quarter. Stifel Financial Corp acquired a new position in Oclaro during the second quarter valued at about $108,000. Compagnie Lombard Odier SCmA acquired a new position in Oclaro during the second quarter valued at about $122,000. Finally, BlackRock Group LTD acquired a new position in Oclaro during the second quarter valued at about $124,000. 62.49% of the stock is owned by hedge funds and other institutional investors.
Oclaro Company Profile
Oclaro, Inc is a provider of optical components, modules and subsystems for the optical transport, service provider, enterprise and data center markets. The Company supplies optical network technology to telecommunication and data communication equipment companies across the world. The Company designs, manufactures and markets optical components, modules and subsystems that generate, detect, combine and separate light signals in optical communications networks.
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