Oclaro (NASDAQ:OCLR) was upgraded by equities research analysts at UBS from a “sell” rating to a “neutral” rating in a research note issued on Wednesday, March 14th, www.benzinga.com reports. The brokerage presently has a $10.00 target price on the semiconductor company’s stock. UBS’s price target points to a potential upside of 8.34% from the company’s current price.
Other research analysts have also issued research reports about the company. ValuEngine upgraded Oclaro from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Northland Securities set a $9.00 price target on shares of Oclaro and gave the company a “buy” rating in a report on Monday, January 29th. Loop Capital assumed coverage on shares of Oclaro in a report on Monday, January 29th. They issued a “buy” rating and a $10.00 price target for the company. Stifel Nicolaus lowered their price target on shares of Oclaro from $10.00 to $8.50 and set a “buy” rating for the company in a report on Wednesday, January 24th. Finally, Cowen reissued a “buy” rating and issued a $8.00 price objective on shares of Oclaro in a research note on Tuesday, February 6th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Oclaro currently has an average rating of “Hold” and an average price target of $10.43.
Shares of NASDAQ OCLR traded down $0.23 during midday trading on Wednesday, hitting $9.23. 2,769,421 shares of the stock traded hands, compared to its average volume of 10,042,254. The stock 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 one year low of $5.61 and a one year high of $10.93.
Oclaro (NASDAQ:OCLR) last posted its quarterly earnings data on Monday, February 5th. The semiconductor company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02. Oclaro had a return on equity of 23.17% and a net margin of 23.00%. The firm had revenue of $139.30 million during the quarter, compared to analyst estimates of $138.83 million. During the same period in the prior year, the business posted $0.21 EPS. Oclaro’s revenue was down 9.5% on a year-over-year basis. analysts expect that Oclaro will post 0.44 EPS for the current fiscal year.
In related news, EVP David Teichmann sold 24,962 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $6.41, for a total transaction of $160,006.42. Following the completion of the transaction, the executive vice president now directly owns 349,305 shares in the company, valued at $2,239,045.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lisa Paul sold 5,000 shares of the business’s 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 owns 216,886 shares of the company’s stock, valued at $2,190,548.60. The disclosure for this sale can be found here. Insiders sold 119,436 shares of company stock worth $1,088,446 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of OCLR. SeaCrest Wealth Management LLC acquired a new position in shares of Oclaro in the fourth quarter worth about $119,000. Sei Investments Co. raised its position in shares of 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 acquiring an additional 10,288 shares during the period. Meadow Creek Investment Management LLC acquired a new position in shares of Oclaro in the fourth quarter worth about $147,000. Xact Kapitalforvaltning AB acquired a new position in shares of Oclaro in the fourth quarter worth about $156,000. Finally, Koch Industries Inc. acquired a new position in shares of Oclaro in the fourth quarter worth about $199,000. Institutional investors own 68.54% 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.
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