Oclaro Inc. (OCLR) Stock Rating Lowered by Vetr Inc.
Oclaro Inc. (NASDAQ:OCLR) was downgraded by equities researchers at Vetr from a “strong-buy” rating to a “buy” rating in a report released on Thursday. They presently have a $10.31 price objective on the stock. Vetr‘s price objective suggests a potential upside of 14.68% from the company’s previous close.
Several other brokerages have also recently commented on OCLR. MKM Partners increased their price target on shares of Oclaro from $8.00 to $10.00 and gave the stock a “top pick” rating in a research report on Thursday, September 1st. TheStreet raised shares of Oclaro from a “hold” rating to a “buy” rating in a report on Wednesday, August 3rd. Piper Jaffray Cos. reissued an “overweight” rating and issued a $6.75 target price on shares of Oclaro in a report on Monday, August 1st. Needham & Company LLC cut their target price on shares of Oclaro from $10.00 to $8.00 and set a “strong-buy” rating on the stock in a report on Tuesday, August 30th. Finally, Zacks Investment Research cut shares of Oclaro from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 5th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. Oclaro has an average rating of “Buy” and a consensus price target of $8.78.
Shares of Oclaro (NASDAQ:OCLR) opened at 8.99 on Thursday. The stock’s 50 day moving average price is $8.40 and its 200 day moving average price is $6.03. Oclaro has a 52 week low of $2.37 and a 52 week high of $9.34. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 115.26 and a beta of 1.82.
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 business had revenue of $125.20 million for the quarter, compared to analysts’ expectations of $119.41 million. During the same quarter last year, the company posted ($0.06) earnings per share. The company’s quarterly revenue was up 52.3% compared to the same quarter last year. Equities research analysts anticipate that Oclaro will post $0.39 EPS for the current fiscal year.
In related news, EVP Lisa Paul sold 9,363 shares of the firm’s stock in a transaction that occurred 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 owns 218,264 shares in the company, valued at $1,678,450.16. The transaction was disclosed in a document filed 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 that occurred 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 approximately $1,215,504. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of OCLR. Bayesian Capital Management LP bought a new position in Oclaro during the first quarter worth approximately $107,000. Peconic Partners LLC raised its position in 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 in the last quarter. Stifel Financial Corp bought a new position in Oclaro during the second quarter worth approximately $108,000. Compagnie Lombard Odier SCmA bought a new position in Oclaro during the second quarter worth approximately $122,000. Finally, BlackRock Group LTD bought a new position in Oclaro during the second quarter worth approximately $124,000. Institutional investors and hedge funds 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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