Oclaro, Inc. (NASDAQ:OCLR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “Oclaro, with headquarters in San Jose, California, is a tier 1 provider of high performance optical components, modules and subsystems to the telecommunications market, and is one of the largest providers to metro and long haul network applications. Oclaro, the result of the combination of Bookham, Inc. and Avanex Corporation, leverages proprietary core technologies and vertically integrated product development to provide its customers with cost-effective and innovative optical devices, modules and subsystems. Its photonic technologies also serve selected potential high growth markets, including industrial, defense, life sciences, semiconductor, and scientific, with diversification providing both significant potential revenue streams and strategic technological advantage. Oclaro is a global company, with leading chip fabrication facilities in the UK, Switzerland and Italy, and manufacturing sites in the US, Thailand and China. “

Other equities analysts have also issued research reports about the stock. B. Riley restated a “buy” rating and set a $11.75 target price on shares of Oclaro in a report on Tuesday, August 8th. Northland Securities restated a “buy” rating and set a $12.75 target price on shares of Oclaro in a report on Friday, September 15th. MKM Partners restated a “buy” rating and set a $12.00 target price (up previously from $10.50) on shares of Oclaro in a report on Wednesday, July 26th. Jefferies Group LLC reiterated a “buy” rating and issued a $12.50 price objective (up previously from $12.00) on shares of Oclaro in a report on Thursday, August 3rd. Finally, ValuEngine lowered shares of Oclaro from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Two analysts have rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $12.67.

Oclaro (NASDAQ OCLR) opened at $5.96 on Wednesday. The firm has a market cap of $1,042.32, a price-to-earnings ratio of 7.92, a P/E/G ratio of 0.85 and a beta of 1.41. Oclaro has a 1-year low of $5.86 and a 1-year high of $11.30.

Oclaro (NASDAQ:OCLR) last posted its earnings results on Wednesday, November 1st. The semiconductor company reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.02. The business had revenue of $155.60 million for the quarter, compared to analyst estimates of $154.51 million. Oclaro had a net margin of 24.31% and a return on equity of 28.11%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.14 EPS. research analysts forecast that Oclaro will post 0.54 earnings per share for the current year.

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In other news, EVP Lisa Paul sold 12,182 shares of the company’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $8.45, for a total value of $102,937.90. Following the sale, the executive vice president now owns 246,090 shares in the company, valued at approximately $2,079,460.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michael H. Fernicola sold 12,869 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $8.62, for a total transaction of $110,930.78. Following the completion of the sale, the insider now owns 106,225 shares in the company, valued at approximately $915,659.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 85,183 shares of company stock worth $747,174. Company insiders own 2.00% of the company’s stock.

Several institutional investors have recently modified their holdings of OCLR. BlackRock Inc. raised its stake in shares of Oclaro by 120.0% in the 2nd quarter. BlackRock Inc. now owns 16,827,106 shares of the semiconductor company’s stock valued at $157,166,000 after purchasing an additional 9,177,551 shares in the last quarter. Neumeier Poma Investment Counsel LLC acquired a new stake in shares of Oclaro in the 2nd quarter valued at about $14,066,000. ING Groep NV acquired a new stake in shares of Oclaro in the 2nd quarter valued at about $13,957,000. State Street Corp raised its stake in shares of Oclaro by 54.0% in the 2nd quarter. State Street Corp now owns 3,841,177 shares of the semiconductor company’s stock valued at $35,877,000 after purchasing an additional 1,346,216 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Oclaro by 17.9% in the 2nd quarter. Vanguard Group Inc. now owns 8,326,122 shares of the semiconductor company’s stock valued at $77,766,000 after purchasing an additional 1,265,269 shares in the last quarter. Institutional investors and hedge funds own 70.18% of the company’s stock.

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.

Analyst Recommendations for Oclaro (NASDAQ:OCLR)

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