Oclaro (NASDAQ:OCLR) Stock Rating Lowered by Piper Jaffray

Oclaro (NASDAQ:OCLR) was downgraded by stock analysts at Piper Jaffray from an “overweight” rating to a “neutral” rating in a research note issued on Monday, March 12th.

A number of other research firms also recently issued reports on OCLR. Morgan Stanley initiated coverage on Oclaro in a research report on Friday, March 9th. They issued an “equal weight” rating and a $8.00 target price for the company. Needham & Company LLC downgraded Oclaro from a “buy” rating to a “hold” rating in a research report on Monday, December 18th. ValuEngine raised Oclaro from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 1st. Zacks Investment Research raised Oclaro from a “sell” rating to a “hold” rating in a research report on Wednesday, January 3rd. Finally, Cowen reissued a “buy” rating and issued a $8.00 target price on shares of Oclaro in a research report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $10.43.

Shares of OCLR opened at $9.23 on Monday. The company has a market cap of $1,618.08, a P/E ratio of 12.31, a price-to-earnings-growth ratio of 1.69 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 quarterly earnings results on Monday, February 5th. The semiconductor company reported $0.14 EPS for the quarter, beating the Zacks’ 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%. Oclaro’s revenue was down 9.5% on a year-over-year basis. During the same period last year, the business posted $0.21 earnings per share. research analysts anticipate that Oclaro will post 0.44 EPS for the current fiscal year.

In other 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 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Greg Dougherty sold 80,000 shares of the firm’s stock in a transaction on Monday, March 12th. The stock was sold at an average price of $9.79, for a total value of $783,200.00. Following the completion of the transaction, the chief executive officer now directly owns 1,312,157 shares of the company’s stock, valued at $12,846,017.03. 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 ninety days. Corporate insiders own 2.00% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Oclaro by 1,727.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 105,789 shares of the semiconductor company’s stock valued at $913,000 after buying an additional 100,000 shares during the period. Rhumbline Advisers boosted its stake in Oclaro by 13.4% during the third quarter. Rhumbline Advisers now owns 326,994 shares of the semiconductor company’s stock valued at $2,822,000 after buying an additional 38,758 shares during the period. TCW Group Inc. boosted its stake in Oclaro by 75.5% during the third quarter. TCW Group Inc. now owns 1,333,288 shares of the semiconductor company’s stock valued at $11,506,000 after buying an additional 573,433 shares during the period. Engineers Gate Manager LP bought a new stake in Oclaro during the fourth quarter valued at $968,000. Finally, Heartland Advisors Inc. boosted its stake in Oclaro by 100.0% during the fourth quarter. Heartland Advisors Inc. now owns 300,000 shares of the semiconductor company’s stock valued at $2,022,000 after buying an additional 150,000 shares during the period. 68.54% of the stock is owned by hedge funds and other 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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