Oclaro (NASDAQ:OCLR) had its price objective boosted by MKM Partners in a research note released on Wednesday, March 14th. MKM Partners currently has a buy rating on the semiconductor company’s stock.
A number of other brokerages have also recently commented on OCLR. Raymond James Financial cut shares of Oclaro from a buy rating to a hold rating in a research note on Wednesday, March 14th. UBS raised shares of Oclaro from a sell rating to a neutral rating and set a $10.00 price objective for the company in a research note on Wednesday, March 14th. B. Riley reissued a neutral rating and issued a $10.00 price objective on shares of Oclaro in a research note on Tuesday, March 13th. Stifel Nicolaus cut shares of Oclaro from a buy rating to a hold rating in a research note on Monday, March 12th. Finally, Loop Capital cut shares of Oclaro from a buy rating to a hold rating in a research note on Monday, March 12th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $10.43.
Shares of OCLR stock traded down $0.23 on Wednesday, hitting $9.23. 2,818,599 shares of the stock traded hands, compared to its average volume of 10,042,254. The company has a market capitalization of $1,602.83, a price-to-earnings ratio of 12.31, a PEG ratio of 1.67 and a beta of 0.72. Oclaro has a 52 week low of $5.61 and a 52 week high of $10.93.
Oclaro (NASDAQ:OCLR) last announced its quarterly earnings results on Monday, February 5th. The semiconductor company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. The company had revenue of $139.30 million for the quarter, compared to the consensus estimate of $138.83 million. Oclaro had a net margin of 23.00% and a return on equity of 23.17%. Oclaro’s revenue for the quarter was down 9.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.21 EPS. equities analysts expect that Oclaro will post 0.44 earnings per share for the current year.
In other Oclaro news, CEO Greg Dougherty sold 80,000 shares of the business’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $9.79, for a total transaction of $783,200.00. Following the sale, the chief executive officer now owns 1,312,157 shares of the company’s stock, valued at approximately $12,846,017.03. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP David Teichmann sold 9,474 shares of the business’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $10.00, for a total transaction of $94,740.00. Following the sale, the executive vice president now directly owns 314,869 shares in the company, valued at approximately $3,148,690. The disclosure for this sale can be found here. In the last quarter, insiders have sold 119,436 shares of company stock valued at $1,088,446. 2.00% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in OCLR. SeaCrest Wealth Management LLC purchased a new stake in shares of Oclaro in the 4th quarter valued at $119,000. Sei Investments Co. boosted its holdings in shares of Oclaro by 150.9% in 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 last quarter. Meadow Creek Investment Management LLC purchased a new stake in shares of Oclaro in the 4th quarter valued at $147,000. Xact Kapitalforvaltning AB purchased a new stake in shares of Oclaro in the 4th quarter valued at $156,000. Finally, Koch Industries Inc. purchased a new stake in shares of Oclaro in the 4th quarter valued at $199,000. 68.54% of the stock is currently owned by institutional investors and hedge funds.
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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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