Oclaro Inc. (NASDAQ:OCLR) Given Average Recommendation of “Buy” by Brokerages
Oclaro Inc. (NASDAQ:OCLR) has earned an average rating of “Buy” from the fourteen research firms that are presently covering the firm. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $8.23.
Several equities research analysts have issued reports on the stock. B. Riley reiterated a “buy” rating and set a $8.00 price objective on shares of Oclaro in a research note on Wednesday, August 3rd. Needham & Company LLC reiterated a “strong-buy” rating and set a $8.00 price objective (up from $7.50) on shares of Oclaro in a research note on Wednesday, August 3rd. Zacks Investment Research downgraded shares of Oclaro from a “buy” rating to a “hold” rating in a research note on Wednesday, July 6th. MKM Partners boosted their price objective on shares of Oclaro from $8.00 to $10.00 and gave the stock a “top pick” rating in a research note on Thursday, September 1st. Finally, Stifel Nicolaus boosted their price objective on shares of Oclaro from $7.50 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, September 6th.
Shares of Oclaro (NASDAQ:OCLR) opened at 8.79 on Friday. Oclaro has a 52 week low of $2.37 and a 52 week high of $9.34. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 112.69 and a beta of 1.82. The company’s 50-day moving average is $8.24 and its 200 day moving average is $5.96.
Oclaro (NASDAQ:OCLR) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.06 by $0.05. Oclaro had a net margin of 2.10% and a return on equity of 6.24%. The firm earned $125.20 million during the quarter, compared to analyst estimates of $119.41 million. During the same quarter in the prior year, the business posted ($0.06) earnings per share. Oclaro’s revenue for the quarter was up 52.3% compared to the same quarter last year. Analysts anticipate that Oclaro will post $0.39 EPS for the current fiscal year.
In other Oclaro news, EVP Lisa Paul sold 9,363 shares of the 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 transaction, the executive vice president now directly owns 218,264 shares in the company, valued at approximately $1,678,450.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Adam Carter sold 19,506 shares of the 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 owns 202,584 shares in the company, valued at $1,215,504. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bayesian Capital Management LP acquired a new stake in shares of Oclaro during the first quarter worth $107,000. Peconic Partners LLC boosted its stake in shares of Oclaro by 100.0% in the first quarter. Peconic Partners LLC now owns 20,000 shares of the company’s stock worth $108,000 after buying an additional 10,000 shares during the period. Stifel Financial Corp acquired a new stake in shares of Oclaro during the second quarter worth $108,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of Oclaro during the second quarter worth $122,000. Finally, BlackRock Group LTD acquired a new stake in shares of Oclaro during the second quarter worth $124,000. Hedge funds and other institutional investors own 62.49% of the company’s stock.
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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