Needham & Company LLC cut shares of Oclaro (NASDAQ:OCLR) from a buy rating to a hold rating in a research report released on Monday, Marketbeat Ratings reports.

A number of other analysts have also issued reports on OCLR. Craig Hallum lowered shares of Oclaro from a buy rating to a hold rating in a research note on Thursday, November 2nd. Stifel Nicolaus reissued a buy rating and set a $12.00 target price on shares of Oclaro in a research note on Friday, October 6th. DA Davidson reissued a buy rating and set a $11.00 target price on shares of Oclaro in a research note on Thursday, November 2nd. ValuEngine raised shares of Oclaro from a hold rating to a buy rating in a research note on Friday, December 1st. Finally, Cowen reissued a buy rating on shares of Oclaro in a research note on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $12.67.

Oclaro (OCLR) opened at $7.02 on Monday. The company has a market cap of $1,188.22, a price-to-earnings ratio of 9.03, a price-to-earnings-growth ratio of 1.03 and a beta of 1.31. Oclaro has a one year low of $5.86 and a one year high of $11.30.

Oclaro (NASDAQ:OCLR) last posted its quarterly earnings data on Wednesday, November 1st. The semiconductor company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.18 by $0.02. The company had revenue of $155.60 million during 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%. Oclaro’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.14 earnings per share. analysts predict that Oclaro will post 0.51 EPS for the current fiscal year.

In other Oclaro news, EVP Lisa Paul sold 5,000 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $7.45, for a total value of $37,250.00. Following the completion of the transaction, the executive vice president now directly owns 232,950 shares in the company, valued at $1,735,477.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas Gordon Beck Mason sold 39,255 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $7.22, for a total transaction of $283,421.10. Following the completion of the transaction, 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. Over the last ninety days, insiders sold 51,271 shares of company stock valued at $364,240. 2.00% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in OCLR. Everence Capital Management Inc. bought a new position in Oclaro in the third quarter worth about $110,000. Shelton Capital Management bought a new position in Oclaro in the second quarter worth about $117,000. Ameritas Investment Partners Inc. raised its holdings in Oclaro by 53.3% in the second quarter. Ameritas Investment Partners Inc. now owns 14,542 shares of the semiconductor company’s stock worth $136,000 after purchasing an additional 5,057 shares in the last quarter. GLG Partners LP bought a new position in Oclaro in the second quarter worth about $140,000. Finally, Sei Investments Co. raised its holdings in Oclaro by 150.9% in the third quarter. Sei Investments Co. now owns 17,105 shares of the semiconductor company’s stock worth $147,000 after purchasing an additional 10,288 shares in the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

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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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