ValuEngine Upgrades Oclaro (OCLR) to Buy
Oclaro (NASDAQ:OCLR) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Friday.
Several other research firms have also commented on OCLR. Piper Jaffray Companies reissued a “buy” rating and set a $12.00 price target on shares of Oclaro in a research report on Thursday, August 3rd. Raymond James Financial initiated coverage on Oclaro in a research report on Thursday, September 14th. They set a “strong-buy” rating and a $12.00 price target on the stock. B. Riley reissued a “buy” rating and set a $11.75 price target on shares of Oclaro in a research report on Tuesday, August 8th. Jefferies Group reissued a “buy” rating and set a $12.50 price target on shares of Oclaro in a research report on Wednesday, November 1st. Finally, DA Davidson reissued a “buy” rating and set a $11.00 price target on shares of Oclaro in a research report on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, one has given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $12.67.
Oclaro (OCLR) opened at $7.01 on Friday. The company has a market capitalization of $1,183.15, a P/E ratio of 8.99, a P/E/G ratio of 1.02 and a beta of 1.32. Oclaro has a 52-week low of $5.86 and a 52-week high of $11.30.
In other news, CAO Michael H. Fernicola sold 7,016 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $6.21, for a total value of $43,569.36. Following the completion of the sale, the chief accounting officer now directly owns 81,378 shares in the company, valued at approximately $505,357.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas Gordon Beck Mason sold 39,255 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $7.22, for a total value of $283,421.10. Following the completion of the sale, the insider now owns 171,226 shares of the company’s stock, valued at $1,236,251.72. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Everence Capital Management Inc. bought a new stake in shares of Oclaro in the 3rd quarter valued at approximately $110,000. Shelton Capital Management bought a new stake in shares of Oclaro in the 2nd quarter valued at approximately $117,000. LS Investment Advisors LLC bought a new stake in shares of Oclaro in the 2nd quarter valued at approximately $122,000. Ameritas Investment Partners Inc. increased its holdings in shares of Oclaro by 53.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 14,542 shares of the semiconductor company’s stock valued at $136,000 after acquiring an additional 5,057 shares during the last quarter. Finally, GLG Partners LP bought a new stake in shares of Oclaro in the 2nd quarter valued at approximately $140,000. Institutional investors and hedge funds own 70.77% of the company’s stock.
TRADEMARK VIOLATION WARNING: This piece of content was originally posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this piece of content on another website, it was copied illegally and republished in violation of international copyright and trademark legislation. The original version of this piece of content can be accessed at https://www.thecerbatgem.com/2017/12/03/valuengine-upgrades-oclaro-oclr-to-buy.html.
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.
Receive News & Stock Ratings for Oclaro Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oclaro Inc. and related stocks with our FREE daily email newsletter.