Oclaro, Inc. (OCLR) Receives $13.13 Consensus PT from Analysts
Oclaro, Inc. (NASDAQ:OCLR) has earned a consensus rating of “Buy” from the sixteen brokerages that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, twelve have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $13.13.
OCLR has been the topic of several recent research reports. MKM Partners reaffirmed a “buy” rating and issued a $12.00 price objective (up previously from $10.50) on shares of Oclaro in a research note on Wednesday, July 26th. Cantor Fitzgerald reissued an “overweight” rating and issued a $21.00 target price (down from $35.00) on shares of Oclaro in a research report on Thursday, July 13th. ValuEngine raised shares of Oclaro from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 3rd. BidaskClub downgraded shares of Oclaro from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Finally, Rosenblatt Securities assumed coverage on shares of Oclaro in a research report on Wednesday, May 17th. They issued a “buy” rating and a $12.00 target price on the stock.
In related news, EVP David Teichmann sold 20,132 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $8.37, for a total transaction of $168,504.84. Following the completion of the sale, the executive vice president now directly owns 422,126 shares in the company, valued at $3,533,194.62. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Michael H. Fernicola sold 12,869 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $8.62, for a total transaction of $110,930.78. Following the sale, the insider now owns 106,225 shares of the company’s stock, valued at $915,659.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 85,183 shares of company stock valued at $747,174. 2.30% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of the stock. Alps Advisors Inc. boosted its holdings in shares of Oclaro by 0.3% during the second quarter. Alps Advisors Inc. now owns 59,118 shares of the semiconductor company’s stock worth $552,000 after purchasing an additional 153 shares during the period. Suntrust Banks Inc. boosted its holdings in shares of Oclaro by 1.9% during the first quarter. Suntrust Banks Inc. now owns 19,133 shares of the semiconductor company’s stock worth $187,000 after purchasing an additional 355 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Oclaro by 1.2% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 44,633 shares of the semiconductor company’s stock worth $417,000 after purchasing an additional 550 shares during the period. John G Ullman & Associates Inc. boosted its holdings in shares of Oclaro by 2.4% during the second quarter. John G Ullman & Associates Inc. now owns 25,300 shares of the semiconductor company’s stock worth $236,000 after purchasing an additional 600 shares during the period. Finally, Cypress Capital Management LLC WY boosted its holdings in shares of Oclaro by 1.9% during the second quarter. Cypress Capital Management LLC WY now owns 54,500 shares of the semiconductor company’s stock worth $509,000 after purchasing an additional 1,040 shares during the period. Institutional investors and hedge funds own 70.47% of the company’s stock.
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Oclaro (NASDAQ:OCLR) traded up 0.47% during mid-day trading on Friday, hitting $8.52. 2,938,741 shares of the stock traded hands. The firm has a market cap of $1.44 billion, a PE ratio of 11.06 and a beta of 1.61. Oclaro has a 12-month low of $6.91 and a 12-month high of $11.30. The stock has a 50 day moving average price of $8.85 and a 200 day moving average price of $9.11.
Oclaro (NASDAQ:OCLR) last announced its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.03. The company 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 quarter in the previous year, the company posted $0.11 EPS. On average, analysts expect that Oclaro will post $0.74 earnings per share for the current fiscal year.
Oclaro Company Profile
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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