Oclaro, Inc. (NASDAQ:OCLR) was downgraded by research analysts at Needham & Company LLC from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Thursday, November 2nd, MarketBeat.com reports. They presently have a $9.00 price target on the semiconductor company’s stock, down from their prior price target of $14.00. Needham & Company LLC’s target price would indicate a potential upside of 49.25% from the stock’s current price.
Other equities research analysts have also issued reports about the stock. Jefferies Group LLC reissued a “buy” rating and issued a $12.50 target price (up from $12.00) on shares of Oclaro in a report on Thursday, August 3rd. Piper Jaffray Companies reaffirmed a “buy” rating and set a $12.00 price objective on shares of Oclaro in a report on Thursday, August 3rd. B. Riley reaffirmed a “buy” rating and set a $11.75 price objective on shares of Oclaro in a report on Thursday, August 3rd. Stifel Nicolaus reaffirmed a “buy” rating and set a $12.00 price objective (up from $10.00) on shares of Oclaro in a report on Monday, July 10th. Finally, ValuEngine lowered shares of Oclaro from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 8th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Oclaro presently has an average rating of “Buy” and an average target price of $12.67.
Oclaro (NASDAQ:OCLR) opened at $6.03 on Thursday. The stock has a market cap of $1,020.00, a PE ratio of 8.06, a price-to-earnings-growth ratio of 0.92 and a beta of 1.41. Oclaro has a one year low of $5.86 and a one year high of $11.30.
Oclaro (NASDAQ:OCLR) last issued its quarterly earnings data on Wednesday, November 1st. The semiconductor company reported $0.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.02. The firm had revenue of $155.60 million for the quarter, compared to analysts’ expectations of $154.51 million. Oclaro had a net margin of 24.31% and a return on equity of 28.11%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.14 EPS. equities analysts forecast that Oclaro will post 0.51 earnings per share for the current year.
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In other news, EVP Lisa Paul sold 12,182 shares of the business’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $8.45, for a total transaction of $102,937.90. Following the sale, the executive vice president now owns 246,090 shares in the company, valued at $2,079,460.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Greg Dougherty sold 40,000 shares of the business’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $9.12, for a total value of $364,800.00. Following the sale, the chief executive officer now owns 1,441,386 shares in the company, valued at approximately $13,145,440.32. The disclosure for this sale can be found here. Insiders sold 59,198 shares of company stock worth $511,307 in the last quarter. 2.00% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in shares of Oclaro by 120.0% during the second quarter. BlackRock Inc. now owns 16,827,106 shares of the semiconductor company’s stock worth $157,166,000 after purchasing an additional 9,177,551 shares during the period. Greenwood Capital Associates LLC lifted its holdings in Oclaro by 3.4% in the second quarter. Greenwood Capital Associates LLC now owns 45,494 shares of the semiconductor company’s stock valued at $425,000 after acquiring an additional 1,483 shares during the period. Pinnacle Associates Ltd. lifted its holdings in Oclaro by 16.2% in the second quarter. Pinnacle Associates Ltd. now owns 168,715 shares of the semiconductor company’s stock valued at $1,576,000 after acquiring an additional 23,525 shares during the period. ING Groep NV acquired a new position in Oclaro in the second quarter valued at approximately $13,957,000. Finally, Thompson Siegel & Walmsley LLC lifted its holdings in Oclaro by 59.1% in the second quarter. Thompson Siegel & Walmsley LLC now owns 1,556,047 shares of the semiconductor company’s stock valued at $14,533,000 after acquiring an additional 577,873 shares during the period. 71.36% of the stock is owned by hedge funds and other institutional investors.
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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