ValuEngine lowered shares of Oclaro (NASDAQ:OCLR) from a strong-buy rating to a buy rating in a research report sent to investors on Tuesday morning.
Other equities research analysts have also issued reports about the stock. Cowen reaffirmed a buy rating and set a $8.00 price target on shares of Oclaro in a report on Tuesday, February 6th. Jefferies Group lowered shares of Oclaro from a buy rating to a hold rating and set a $6.50 price target on the stock. in a report on Friday, February 2nd. Zacks Investment Research raised shares of Oclaro from a hold rating to a buy rating and set a $10.00 price target on the stock in a report on Wednesday, April 11th. DA Davidson decreased their price target on shares of Oclaro from $11.00 to $9.00 and set a buy rating on the stock in a report on Tuesday, February 6th. Finally, Raymond James lowered shares of Oclaro from a buy rating to a hold rating in a report on Wednesday, March 14th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $10.67.
Shares of NASDAQ:OCLR opened at $8.18 on Tuesday. The company has a market capitalization of $1,431.70, a PE ratio of 10.91, a PEG ratio of 1.50 and a beta of 0.72. Oclaro has a 12 month low of $5.61 and a 12 month high of $10.93.
Oclaro (NASDAQ:OCLR) last issued its earnings results on Monday, February 5th. The semiconductor company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. The company had revenue of $139.30 million during the quarter, compared to analysts’ expectations of $138.83 million. Oclaro had a net margin of 23.00% and a return on equity of 23.17%. The business’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 company earned $0.21 EPS. sell-side analysts predict that Oclaro will post 0.43 earnings per share for the current fiscal year.
In other Oclaro news, EVP David Teichmann sold 9,474 shares of the business’s stock in a transaction that occurred on Monday, March 12th. The shares were 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 of the company’s stock, valued at approximately $3,148,690. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lisa Paul sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 15th. The stock was sold at an average price of $10.10, for a total transaction of $50,500.00. Following the sale, the executive vice president now directly owns 216,886 shares in the company, valued at $2,190,548.60. The disclosure for this sale can be found here. Insiders have sold a total of 119,436 shares of company stock worth $1,088,446 over the last three months. Insiders own 2.00% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of OCLR. Russell Investments Group Ltd. grew its holdings in Oclaro by 16.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 87,169 shares of the semiconductor company’s stock worth $752,000 after acquiring an additional 12,268 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Oclaro by 33.2% in the 3rd quarter. Legal & General Group Plc now owns 336,876 shares of the semiconductor company’s stock worth $2,907,000 after purchasing an additional 83,892 shares during the period. Wells Fargo & Company MN lifted its position in shares of Oclaro by 12.7% in the 3rd quarter. Wells Fargo & Company MN now owns 563,229 shares of the semiconductor company’s stock worth $4,861,000 after purchasing an additional 63,366 shares during the period. Schwab Charles Investment Management Inc. lifted its position in shares of Oclaro by 17.3% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 729,349 shares of the semiconductor company’s stock worth $6,295,000 after purchasing an additional 107,824 shares during the period. Finally, Stifel Financial Corp lifted its position in shares of Oclaro by 20.4% in the 3rd quarter. Stifel Financial Corp now owns 71,260 shares of the semiconductor company’s stock worth $617,000 after purchasing an additional 12,097 shares during the period. 68.49% of the stock is currently owned by hedge funds and other institutional investors.
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Oclaro, Inc designs, manufactures, and markets optical components, modules, and subsystems for the long-haul, metro, and data center markets worldwide. The company's products generate, detect, combine, and separate light signals in optical communications networks. It offers client side transceivers, including pluggable transceivers; line side transceivers; tunable laser transmitters, such as discrete lasers and co-packaged laser modulators; lithium niobate modulators to manipulate the phase or the amplitude of an optical signal; transponder modules for transmitter and receiver functions; and discrete lasers and receivers for metro and long-haul applications.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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