Oclaro, Inc. (NASDAQ:OCLR) was downgraded by investment analysts at Craig Hallum from a “buy” rating to a “hold” rating in a report issued on Thursday, November 2nd.
Several other research firms also recently weighed in on OCLR. Piper Jaffray Companies reiterated a “buy” rating and set a $12.00 target price on shares of Oclaro in a research report on Thursday, August 3rd. B. Riley restated a “buy” rating and issued a $11.75 price objective on shares of Oclaro in a research report on Tuesday, August 8th. Raymond James Financial, Inc. assumed coverage on Oclaro in a research report on Thursday, September 14th. They issued a “strong-buy” rating and a $12.00 price objective on the stock. Stifel Nicolaus restated a “buy” rating and issued a $12.00 price objective (up from $10.00) on shares of Oclaro in a research report on Monday, July 10th. Finally, ValuEngine downgraded Oclaro from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 8th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $12.67.
Shares of Oclaro (OCLR) opened at $6.86 on Thursday. The company has a market capitalization of $1,160.00, a price-to-earnings ratio of 8.44, a P/E/G ratio of 0.96 and a beta of 1.41. Oclaro has a fifty-two week low of $5.86 and a fifty-two week high of $11.30.
Oclaro (NASDAQ:OCLR) last released its earnings results on Wednesday, November 1st. The semiconductor company reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.02. The company had revenue of $155.60 million for the quarter, compared to the consensus estimate of $154.51 million. Oclaro had a return on equity of 28.11% and a net margin of 24.31%. Oclaro’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.14 earnings per share. equities analysts predict that Oclaro will post 0.51 earnings per share for the current fiscal year.
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In related news, CAO Michael H. Fernicola sold 7,016 shares of the stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $6.21, for a total value of $43,569.36. Following the transaction, the chief accounting officer now owns 81,378 shares of the company’s stock, valued at $505,357.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Greg Dougherty sold 40,000 shares of the stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $9.12, for a total value of $364,800.00. Following the completion of the transaction, the chief executive officer now directly owns 1,441,386 shares in the company, valued at approximately $13,145,440.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 59,198 shares of company stock worth $511,307. Insiders own 2.00% of the company’s stock.
A number of large investors have recently made changes to their positions in OCLR. BlackRock Inc. grew its stake in Oclaro by 120.0% in 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 in the last quarter. Neumeier Poma Investment Counsel LLC bought a new position in Oclaro in the second quarter worth approximately $14,066,000. ING Groep NV bought a new position in Oclaro in the second quarter worth approximately $13,957,000. State Street Corp grew its stake in Oclaro by 54.0% in the second quarter. State Street Corp now owns 3,841,177 shares of the semiconductor company’s stock worth $35,877,000 after purchasing an additional 1,346,216 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Oclaro by 17.9% in the second quarter. Vanguard Group Inc. now owns 8,326,122 shares of the semiconductor company’s stock worth $77,766,000 after purchasing an additional 1,265,269 shares in the last quarter. 70.29% of the stock is currently owned by institutional investors.
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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