Oclaro (OCLR) Rating Lowered to Neutral at Piper Jaffray Companies
Oclaro (NASDAQ:OCLR) was downgraded by equities researchers at Piper Jaffray Companies from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Monday.
Other equities analysts have also issued research reports about the company. ValuEngine upgraded Oclaro from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Cowen restated a “buy” rating and issued a $8.00 target price on shares of Oclaro in a research note on Tuesday, February 6th. Stifel Nicolaus reduced their target price on Oclaro from $8.50 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, February 6th. B. Riley raised their target price on Oclaro from $8.25 to $8.50 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Finally, DA Davidson reduced their target price on Oclaro from $11.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday, February 6th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $10.13.
Oclaro (NASDAQ:OCLR) opened at $10.04 on Monday. The stock has a market capitalization of $1,700.00, a price-to-earnings ratio of 12.24, a P/E/G ratio of 1.34 and a beta of 0.91. Oclaro has a 52 week low of $5.61 and a 52 week high of $10.93.
In other Oclaro news, EVP Lisa Paul sold 5,000 shares of Oclaro stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $7.45, for a total transaction of $37,250.00. Following the completion of the transaction, the executive vice president now owns 232,950 shares in the company, valued at approximately $1,735,477.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David Teichmann sold 24,962 shares of Oclaro stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $6.41, for a total value of $160,006.42. Following the transaction, the executive vice president now owns 349,305 shares of the company’s stock, valued at approximately $2,239,045.05. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SeaCrest Wealth Management LLC acquired a new stake in shares of Oclaro during the 4th quarter valued at about $119,000. Sei Investments Co. grew its position in shares of Oclaro by 150.9% during the 3rd quarter. Sei Investments Co. now owns 17,105 shares of the semiconductor company’s stock valued at $147,000 after acquiring an additional 10,288 shares during the period. Meadow Creek Investment Management LLC acquired a new stake in shares of Oclaro during the 4th quarter valued at about $147,000. Xact Kapitalforvaltning AB acquired a new stake in shares of Oclaro during the 4th quarter valued at about $156,000. Finally, Koch Industries Inc. acquired a new stake in shares of Oclaro during the 4th quarter valued at about $199,000. Institutional investors and hedge funds own 68.75% of the company’s stock.
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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