Oclaro, Inc. (NASDAQ:OCLR) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a report released on Tuesday.

A number of other research firms have also recently commented on OCLR. B. Riley restated a “buy” rating and set a $12.00 price target on shares of Oclaro in a research note on Wednesday, May 3rd. MKM Partners restated a “buy” rating and set a $12.00 price target (up from $10.50) on shares of Oclaro in a research note on Wednesday, July 26th. Jefferies Group LLC decreased their price target on Oclaro from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday, May 3rd. Stifel Nicolaus restated a “buy” rating and set a $12.00 price target (up from $10.00) on shares of Oclaro in a research note on Monday, July 10th. Finally, Needham & Company LLC restated a “strong-buy” rating and set a $14.00 price target on shares of Oclaro in a research note on Monday, June 12th. Two investment analysts have rated the stock with a sell rating, twelve have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $12.85.

Shares of Oclaro (NASDAQ:OCLR) traded up 3.94% during midday trading on Tuesday, hitting $9.49. The company had a trading volume of 18,894,120 shares. The company has a market capitalization of $1.59 billion, a PE ratio of 17.25 and a beta of 1.55. The company has a 50-day moving average of $9.70 and a 200-day moving average of $9.35. Oclaro has a 12 month low of $5.75 and a 12 month high of $11.30.

Oclaro (NASDAQ:OCLR) last issued its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.03. The company had revenue of $149.38 million during the quarter, compared to analyst estimates of $148.04 million. Oclaro had a return on equity of 28.78% and a net margin of 14.51%. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.11 earnings per share. Analysts predict that Oclaro will post $0.76 earnings per share for the current year.

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In related news, CEO Greg Dougherty sold 40,000 shares of the firm’s stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $9.00, for a total transaction of $360,000.00. Following the transaction, the chief executive officer now owns 1,220,619 shares of the company’s stock, valued at $10,985,571. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP David Teichmann sold 41,612 shares of the firm’s stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $8.88, for a total value of $369,514.56. Following the transaction, the executive vice president now directly owns 333,738 shares in the company, valued at approximately $2,963,593.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 124,031 shares of company stock worth $1,114,852. Corporate insiders own 2.30% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Teachers Advisors LLC raised its position in Oclaro by 574.9% in the first quarter. Teachers Advisors LLC now owns 5,129,019 shares of the semiconductor company’s stock worth $50,367,000 after buying an additional 4,369,074 shares in the last quarter. Ameriprise Financial Inc. raised its position in Oclaro by 77.5% in the first quarter. Ameriprise Financial Inc. now owns 7,973,627 shares of the semiconductor company’s stock worth $78,300,000 after buying an additional 3,481,430 shares in the last quarter. Wellington Management Group LLP raised its position in Oclaro by 30.5% in the first quarter. Wellington Management Group LLP now owns 9,737,747 shares of the semiconductor company’s stock worth $95,624,000 after buying an additional 2,278,171 shares in the last quarter. Old Mutual Global Investors UK Ltd. bought a new position in Oclaro during the first quarter worth about $16,130,000. Finally, ING Groep NV bought a new position in Oclaro during the second quarter worth about $13,957,000. 71.26% of the stock is currently owned by hedge funds and other institutional investors.

About Oclaro

Oclaro, Inc is a provider of optical components, modules and subsystems for the core optical transport, service provider, enterprise and data center markets. The Company provides various solutions for optical networks and interconnects driving the next wave of streaming video, cloud computing, application virtualization and other bandwidth-intensive and high-speed applications.

Analyst Recommendations for Oclaro (NASDAQ:OCLR)

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