Shares of Oclaro Inc (NASDAQ:OCLR) have been assigned a consensus rating of “Buy” from the seventeen brokerages that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $12.90.
OCLR has been the topic of a number of research analyst reports. Needham & Company LLC lowered Oclaro from a “buy” rating to a “hold” rating in a report on Monday, December 18th. Jefferies Group reaffirmed a “buy” rating and issued a $12.50 target price on shares of Oclaro in a report on Wednesday, November 1st. Zacks Investment Research raised Oclaro from a “sell” rating to a “hold” rating in a report on Wednesday, January 3rd. DA Davidson reaffirmed a “buy” rating and issued a $11.00 target price on shares of Oclaro in a report on Thursday, November 2nd. Finally, Craig Hallum lowered Oclaro from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd.
Oclaro (NASDAQ OCLR) opened at $6.96 on Friday. The company has a market capitalization of $1,170.00, a PE ratio of 7.82, a PEG ratio of 1.05 and a beta of 1.30. Oclaro has a fifty-two week low of $5.86 and a fifty-two week high of $11.30.
Oclaro (NASDAQ:OCLR) last issued its quarterly earnings data on Wednesday, November 1st. The semiconductor company reported $0.20 EPS for the quarter, beating the Zacks’ 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 return on equity of 28.11% and a net margin of 24.31%. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.14 EPS. equities research analysts anticipate that Oclaro will post 0.51 earnings per share for the current year.
In other Oclaro news, insider Thomas Gordon Beck Mason sold 39,255 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The stock was 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 in the company, valued at approximately $1,236,251.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lisa Paul sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $7.45, for a total value of $37,250.00. Following the completion of the sale, the executive vice president now owns 232,950 shares of the company’s stock, valued at approximately $1,735,477.50. The disclosure for this sale can be found here. Insiders sold a total of 51,271 shares of company stock valued at $364,240 in the last quarter. Corporate insiders own 2.00% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Everence Capital Management Inc. bought a new stake in shares of Oclaro in the 3rd quarter worth approximately $110,000. Shelton Capital Management bought a new stake in shares of Oclaro in the 2nd quarter worth approximately $117,000. Ameritas Investment Partners Inc. lifted its position 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 worth $136,000 after acquiring an additional 5,057 shares during the period. GLG Partners LP bought a new position in shares of Oclaro during the 2nd quarter worth approximately $140,000. Finally, Sei Investments Co. lifted 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 worth $147,000 after buying an additional 10,288 shares during the period. Institutional investors own 70.59% of the company’s stock.
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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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