Oclaro (NASDAQ:OCLR)‘s stock had its “neutral” rating restated by analysts at B. Riley in a research report issued on Tuesday, March 13th, MarketBeat reports. They currently have a $10.00 price objective on the semiconductor company’s stock. B. Riley’s price target points to a potential upside of 8.34% from the stock’s previous close.
Other equities analysts have also issued reports about the company. Jefferies Group lowered Oclaro from a “buy” rating to a “hold” rating and set a $6.50 price objective for the company. in a report on Friday, February 2nd. Cowen reaffirmed a “buy” rating and set a $8.00 price target on shares of Oclaro in a research note on Tuesday, February 6th. DA Davidson decreased their price target on Oclaro from $11.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday, February 6th. Zacks Investment Research raised Oclaro from a “sell” rating to a “hold” rating in a research note on Wednesday, January 3rd. Finally, ValuEngine lowered Oclaro from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $10.43.
Shares of NASDAQ OCLR opened at $9.23 on Tuesday. The company has a market cap of $1,618.08, a price-to-earnings ratio of 12.31, a PEG ratio of 1.69 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 for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. Oclaro had a return on equity of 23.17% and a net margin of 23.00%. The business had revenue of $139.30 million for the quarter, compared to analysts’ expectations of $138.83 million. During the same period in the prior year, the firm earned $0.21 EPS. The business’s quarterly revenue was down 9.5% on a year-over-year basis. equities research analysts expect that Oclaro will post 0.44 EPS for the current fiscal year.
In other Oclaro news, EVP Lisa Paul sold 5,000 shares of the stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $10.10, for a total transaction of $50,500.00. Following the transaction, the executive vice president now directly owns 216,886 shares of the company’s stock, valued at $2,190,548.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP David Teichmann sold 9,474 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 314,869 shares in the company, valued at $3,148,690. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 119,436 shares of company stock valued at $1,088,446. 2.00% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the company. SeaCrest Wealth Management LLC acquired a new stake in shares of Oclaro in the fourth quarter valued at about $119,000. Sei Investments Co. grew its position in Oclaro by 150.9% during the third 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 in the last quarter. Meadow Creek Investment Management LLC acquired a new stake in Oclaro during the fourth quarter worth about $147,000. Xact Kapitalforvaltning AB acquired a new stake in Oclaro during the fourth quarter worth about $156,000. Finally, Koch Industries Inc. acquired a new stake in Oclaro during the fourth quarter worth about $199,000. 68.54% of the stock is currently owned by institutional investors.
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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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