Oclaro, Inc. (OCLR) Given Average Recommendation of “Buy” by Analysts
Shares of Oclaro, Inc. (NASDAQ:OCLR) have been given a consensus recommendation of “Buy” by the sixteen research firms that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating, twelve have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $13.13.
Several analysts have recently issued reports on OCLR shares. MKM Partners restated a “buy” rating and set a $12.00 target price on shares of Oclaro in a research report on Friday, April 21st. B. Riley restated a “buy” rating and set a $12.00 target price on shares of Oclaro in a research report on Wednesday, May 3rd. Stifel Nicolaus decreased their target price on shares of Oclaro from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, May 3rd. Piper Jaffray Companies decreased their target price on shares of Oclaro from $15.00 to $12.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 3rd. Finally, Cowen and Company decreased their target price on shares of Oclaro from $17.00 to $13.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 3rd.
In other Oclaro news, EVP Lisa Paul sold 5,000 shares of the company’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $9.17, for a total value of $45,850.00. Following the transaction, the executive vice president now directly owns 183,460 shares in the company, valued at approximately $1,682,328.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David Teichmann sold 20,132 shares of the company’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $8.37, for a total transaction of $168,504.84. Following the completion of the transaction, the executive vice president now owns 422,126 shares in the company, valued at $3,533,194.62. The disclosure for this sale can be found here. Insiders have sold a total of 38,001 shares of company stock worth $325,286 over the last quarter. 2.30% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of OCLR. Emerald Advisers Inc. PA bought a new position in shares of Oclaro during the first quarter worth approximately $13,079,000. ING Groep NV bought a new position in shares of Oclaro during the second quarter worth approximately $13,957,000. Legato Capital Management LLC bought a new position in shares of Oclaro during the second quarter worth approximately $417,000. Princeton Capital Management Inc. bought a new position in shares of Oclaro during the first quarter worth approximately $617,000. Finally, Essex Investment Management Co. LLC increased its position in shares of Oclaro by 12.0% in the second quarter. Essex Investment Management Co. LLC now owns 350,236 shares of the semiconductor company’s stock worth $3,271,000 after buying an additional 37,460 shares in the last quarter. Institutional investors and hedge funds own 74.45% of the company’s stock.
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Shares of Oclaro (NASDAQ OCLR) traded down 4.55% on Tuesday, hitting $8.40. The stock had a trading volume of 5,287,178 shares. The stock has a market cap of $1.41 billion, a PE ratio of 10.91 and a beta of 1.55. Oclaro has a 12 month low of $6.90 and a 12 month high of $11.30. The company has a 50 day moving average price of $9.46 and a 200-day moving average price of $9.31.
Oclaro (NASDAQ:OCLR) last announced its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.03. The firm had revenue of $149.38 million for the quarter, compared to analysts’ expectations of $148.04 million. Oclaro had a net margin of 21.28% and a return on equity of 27.63%. The business’s revenue was up 19.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.11 EPS. On average, equities research analysts anticipate that Oclaro will post $0.74 earnings per share for the current year.
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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