Loop Capital Lowers Oclaro (OCLR) to Hold

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Oclaro (NASDAQ:OCLR) was downgraded by investment analysts at Loop Capital from a “buy” rating to a “hold” rating in a research note issued to investors on Monday, March 12th.

A number of other analysts also recently weighed in on the company. Piper Jaffray downgraded Oclaro from an “overweight” rating to a “neutral” rating in a research report on Monday, March 12th. Cowen reissued a “buy” rating and set a $8.00 price target on shares of Oclaro in a report on Tuesday, February 6th. Stifel Nicolaus lowered their price target on Oclaro from $8.50 to $8.00 and set a “buy” rating for the company in a report on Tuesday, February 6th. Jefferies Group cut Oclaro from a “buy” rating to a “hold” rating and set a $6.50 target price for the company. in a report on Friday, February 2nd. Finally, ValuEngine raised Oclaro from a “hold” rating to a “buy” rating in a report on Friday, December 1st. 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 assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $10.43.

Oclaro stock traded down $0.23 during midday trading on Monday, reaching $9.23. The stock had a trading volume of 2,769,421 shares, compared to its average volume of 6,385,362. The firm has a market cap of $1,618.08, a PE ratio of 12.31, a P/E/G ratio of 1.69 and a beta of 0.72. Oclaro has a 1-year low of $5.61 and a 1-year 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, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.02. The company had revenue of $139.30 million during the quarter, compared to the consensus estimate of $138.83 million. Oclaro had a return on equity of 23.17% and a net margin of 23.00%. The firm’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 posted $0.21 EPS. analysts anticipate 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 firm’s stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $10.10, for a total value of $50,500.00. Following the completion of the sale, 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 accessible through this link. Also, EVP David Teichmann sold 9,474 shares of the firm’s stock in a transaction on Monday, March 12th. The stock was sold at an average price of $10.00, for a total value of $94,740.00. Following the completion of the transaction, the executive vice president now directly owns 314,869 shares of the company’s stock, valued at $3,148,690. The disclosure for this sale can be found here. Insiders sold 119,436 shares of company stock valued at $1,088,446 over the last three months. Company insiders own 2.00% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Swiss National Bank lifted its stake in Oclaro by 3.2% during the fourth quarter. Swiss National Bank now owns 282,100 shares of the semiconductor company’s stock worth $1,901,000 after purchasing an additional 8,700 shares during the last quarter. Piedmont Investment Advisors LLC lifted its stake in Oclaro by 33.7% during the third quarter. Piedmont Investment Advisors LLC now owns 36,740 shares of the semiconductor company’s stock worth $317,000 after purchasing an additional 9,251 shares during the last quarter. MML Investors Services LLC lifted its stake in Oclaro by 46.6% during the fourth quarter. MML Investors Services LLC now owns 31,331 shares of the semiconductor company’s stock worth $211,000 after purchasing an additional 9,958 shares during the last quarter. Sei Investments Co. lifted its stake 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 purchasing an additional 10,288 shares during the last quarter. Finally, OppenheimerFunds Inc. lifted its stake in Oclaro by 21.7% during the fourth quarter. OppenheimerFunds Inc. now owns 59,322 shares of the semiconductor company’s stock worth $400,000 after purchasing an additional 10,589 shares during the last quarter. 68.54% of the stock is owned by institutional investors.

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About Oclaro

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.

Analyst Recommendations for Oclaro (NASDAQ:OCLR)

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