Oclaro, Inc. (OCLR) Stock Rating Reaffirmed by Jefferies Group LLC
Oclaro, Inc. (NASDAQ:OCLR)‘s stock had its “buy” rating restated by research analysts at Jefferies Group LLC in a research note issued to investors on Thursday. They presently have a $12.50 price target on the semiconductor company’s stock, up from their previous price target of $12.00. Jefferies Group LLC’s price objective indicates a potential upside of 31.72% from the stock’s previous close.
OCLR has been the topic of several other research reports. Zacks Investment Research upgraded shares of Oclaro from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a report on Wednesday, April 5th. DA Davidson started coverage on shares of Oclaro in a report on Thursday, June 22nd. They set a “buy” rating and a $14.00 price objective on the stock. Needham & Company LLC restated a “strong-buy” rating and set a $14.00 price objective on shares of Oclaro in a report on Monday, June 12th. ValuEngine upgraded shares of Oclaro from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 3rd. Finally, MKM Partners restated a “buy” rating and set a $12.00 price objective on shares of Oclaro in a report on Friday, April 21st. Two research analysts have rated the stock with a sell rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $12.89.
Shares of Oclaro (NASDAQ OCLR) traded up 3.94% during mid-day trading on Thursday, hitting $9.49. 19,076,212 shares of the stock were exchanged. The stock has a market cap of $1.59 billion, a PE ratio of 17.25 and a beta of 1.55. Oclaro has a 12 month low of $5.75 and a 12 month high of $11.30. The stock’s 50 day moving average is $9.70 and its 200-day moving average is $9.35.
Oclaro (NASDAQ:OCLR) last posted its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.03. Oclaro had a net margin of 14.51% and a return on equity of 28.78%. The firm had revenue of $149.38 million for the quarter, compared to the consensus estimate of $148.04 million. During the same quarter in the prior year, the company posted $0.11 earnings per share. The company’s revenue for the quarter was up 19.3% compared to the same quarter last year. On average, analysts anticipate that Oclaro will post $0.76 EPS for the current year.
In other Oclaro news, CEO Greg Dougherty sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $9.00, for a total value of $360,000.00. Following the sale, the chief executive officer now owns 1,220,619 shares in the company, valued at approximately $10,985,571. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Lisa Paul sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $9.17, for a total value of $45,850.00. Following the completion of the sale, the executive vice president now owns 183,460 shares in the company, valued at approximately $1,682,328.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 124,031 shares of company stock worth $1,114,852. 2.30% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its stake in Oclaro by 43.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,284,301 shares of the semiconductor company’s stock valued at $20,445,000 after buying an additional 697,014 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its stake in Oclaro by 4.4% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 71,062 shares of the semiconductor company’s stock valued at $636,000 after buying an additional 2,984 shares in the last quarter. Guggenheim Capital LLC raised its stake in Oclaro by 108.2% in the fourth quarter. Guggenheim Capital LLC now owns 64,354 shares of the semiconductor company’s stock valued at $576,000 after buying an additional 33,437 shares in the last quarter. Teachers Advisors LLC raised its stake in Oclaro by 386.2% in the fourth quarter. Teachers Advisors LLC now owns 759,945 shares of the semiconductor company’s stock valued at $6,802,000 after buying an additional 603,641 shares in the last quarter. Finally, Creative Planning raised its stake in Oclaro by 227.0% in the first quarter. Creative Planning now owns 76,262 shares of the semiconductor company’s stock valued at $749,000 after buying an additional 52,943 shares in the last quarter. Institutional investors and hedge funds own 71.26% of the company’s stock.
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.
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