A number of other equities analysts also recently issued reports on OCLR. ValuEngine raised Oclaro from a hold rating to a buy rating in a research note on Friday, December 1st. Needham & Company LLC cut Oclaro from a buy rating to a hold rating in a report on Monday, December 18th. Zacks Investment Research upgraded Oclaro from a sell rating to a hold rating in a report on Wednesday, January 3rd. Stifel Nicolaus lowered their price target on Oclaro from $10.00 to $8.50 and set a buy rating on the stock in a report on Wednesday, January 24th. Finally, Loop Capital initiated coverage on Oclaro in a report on Monday, January 29th. They issued a buy rating and a $10.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $10.43.
Oclaro (NASDAQ OCLR) traded down $0.07 during trading on Wednesday, hitting $10.09. The stock had a trading volume of 1,193,645 shares, compared to its average volume of 6,634,126. Oclaro has a fifty-two week low of $5.61 and a fifty-two week high of $10.93. The stock has a market cap of $1,720.00, a P/E ratio of 12.39, a P/E/G ratio of 1.77 and a beta of 0.91.
Oclaro (NASDAQ:OCLR) last posted its quarterly earnings data on Monday, February 5th. The semiconductor company reported $0.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.02. The firm 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 was down 9.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.21 EPS. equities research analysts predict that Oclaro will post 0.44 earnings per share for the current year.
In other Oclaro news, EVP David Teichmann sold 24,962 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $6.41, for a total transaction of $160,006.42. Following the sale, the executive vice president now owns 349,305 shares in the company, valued at approximately $2,239,045.05. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Greg Dougherty sold 80,000 shares of the stock in a transaction on Monday, March 12th. The shares were sold at an average price of $9.79, for a total value of $783,200.00. Following the sale, the chief executive officer now owns 1,312,157 shares in the company, valued at approximately $12,846,017.03. The disclosure for this sale can be found here. In the last quarter, insiders have sold 114,436 shares of company stock worth $1,037,946. 2.00% of the stock is owned by insiders.
Several institutional investors have recently modified their holdings of OCLR. Zurcher Kantonalbank Zurich Cantonalbank grew its position 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 grew its holdings in shares of Oclaro by 13.4% in the third quarter. Rhumbline Advisers now owns 326,994 shares of the semiconductor company’s stock worth $2,822,000 after purchasing an additional 38,758 shares during the last quarter. TCW Group Inc. boosted its holdings in Oclaro by 75.5% in the third quarter. TCW Group Inc. now owns 1,333,288 shares of the semiconductor company’s stock valued at $11,506,000 after acquiring an additional 573,433 shares in the last quarter. Engineers Gate Manager LP bought a new stake in Oclaro in the fourth quarter valued at $968,000. Finally, Heartland Advisors Inc. boosted its holdings in Oclaro by 100.0% in the fourth quarter. Heartland Advisors Inc. now owns 300,000 shares of the semiconductor company’s stock valued at $2,022,000 after acquiring an additional 150,000 shares in the last quarter. 68.75% of the stock is currently owned by institutional investors.
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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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