Stifel Nicolaus reaffirmed their buy rating on shares of Oclaro, Inc. (NASDAQ:OCLR) in a research report report published on Friday, October 6th. They currently have a $12.00 price objective on the semiconductor company’s stock.
Several other research firms have also commented on OCLR. MKM Partners restated a buy rating and set a $12.00 price target (up previously from $10.50) on shares of Oclaro in a research report on Wednesday, July 26th. Northland Securities restated a buy rating and set a $12.00 price target on shares of Oclaro in a research report on Friday, June 23rd. BidaskClub lowered shares of Oclaro from a hold rating to a sell rating in a research report on Tuesday, August 1st. Needham & Company LLC reiterated a strong-buy rating and issued a $14.00 target price on shares of Oclaro in a research report on Monday, June 12th. Finally, Cantor Fitzgerald reiterated an overweight rating and issued a $21.00 target price (down previously from $35.00) on shares of Oclaro in a research report on Thursday, July 13th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $13.33.
Shares of Oclaro (NASDAQ OCLR) opened at 8.40 on Friday. Oclaro has a 12 month low of $6.91 and a 12 month high of $11.30. The company has a market cap of $1.42 billion, a P/E ratio of 10.91 and a beta of 1.61. The stock’s 50 day moving average is $8.64 and its 200-day moving average is $9.02.
Oclaro (NASDAQ:OCLR) last released its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.03. The firm had revenue of $149.38 million for the quarter, compared to analyst estimates of $148.04 million. Oclaro had a net margin of 21.28% and a return on equity of 27.63%. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.11 earnings per share. On average, equities analysts forecast that Oclaro will post $0.74 EPS for the current year.
In other news, EVP Lisa Paul sold 12,182 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $8.45, for a total transaction of $102,937.90. Following the completion of the sale, the executive vice president now owns 246,090 shares in the company, valued at approximately $2,079,460.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David Teichmann sold 20,132 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $8.37, for a total transaction of $168,504.84. Following the sale, the executive vice president now owns 422,126 shares of the company’s stock, valued at approximately $3,533,194.62. The disclosure for this sale can be found here. Insiders have sold a total of 85,183 shares of company stock valued at $747,174 in the last quarter. 2.00% of the stock is currently owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in OCLR. BlackRock Inc. raised its position in Oclaro by 120.0% in the 2nd quarter. BlackRock Inc. now owns 16,827,106 shares of the semiconductor company’s stock valued at $157,166,000 after purchasing an additional 9,177,551 shares during the last quarter. Teachers Advisors LLC raised its position in Oclaro by 574.9% in the 1st quarter. Teachers Advisors LLC now owns 5,129,019 shares of the semiconductor company’s stock valued at $50,367,000 after purchasing an additional 4,369,074 shares during the last quarter. Wellington Management Group LLP raised its position in Oclaro by 30.5% in the 1st quarter. Wellington Management Group LLP now owns 9,737,747 shares of the semiconductor company’s stock valued at $95,624,000 after purchasing an additional 2,278,171 shares during the last quarter. Neumeier Poma Investment Counsel LLC purchased a new stake in Oclaro in the 2nd quarter valued at $14,066,000. Finally, ING Groep NV purchased a new stake in Oclaro in the 2nd quarter valued at $13,957,000. Hedge funds and other institutional investors own 70.44% of the company’s stock.
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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