ValuEngine upgraded shares of Oclaro (NASDAQ:OCLR) from a hold rating to a buy rating in a research note issued to investors on Saturday.
A number of other research firms have also weighed in on OCLR. Morgan Stanley upped their target price on shares of Oclaro from $8.00 to $10.00 and gave the stock a hold rating in a report on Wednesday, April 11th. Loop Capital initiated coverage on shares of Oclaro in a report on Monday, January 29th. They issued a buy rating and a $10.00 target price on the stock. Zacks Investment Research upgraded shares of Oclaro from a sell rating to a hold rating in a report on Tuesday, May 15th. UBS upgraded shares of Oclaro from a sell rating to a neutral rating and set a $10.00 target price on the stock in a report on Wednesday, March 14th. Finally, Northland Securities restated a buy rating and issued a $11.25 target price on shares of Oclaro in a report on Tuesday, April 17th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $10.55.
OCLR opened at $9.13 on Friday. Oclaro has a fifty-two week low of $5.61 and a fifty-two week high of $10.93. The stock has a market capitalization of $1.55 billion, a P/E ratio of 15.74, a price-to-earnings-growth ratio of 1.63 and a beta of 0.75.
Oclaro (NASDAQ:OCLR) last posted its earnings results on Tuesday, May 8th. The semiconductor company reported $0.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.03. Oclaro had a net margin of 19.60% and a return on equity of 17.65%. The company had revenue of $127.30 million for the quarter, compared to analyst estimates of $124.37 million. During the same quarter in the prior year, the business posted $0.23 EPS. The firm’s revenue was down 21.5% compared to the same quarter last year. analysts expect that Oclaro will post 0.43 earnings per share for the current fiscal year.
In other news, EVP David Teichmann sold 9,474 shares of the stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $10.00, for a total transaction of $94,740.00. Following the completion of the transaction, the executive vice president now directly owns 314,869 shares of the company’s stock, valued at approximately $3,148,690. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Greg Dougherty sold 80,000 shares of the stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $9.79, for a total transaction of $783,200.00. Following 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. In the last quarter, insiders sold 134,474 shares of company stock valued at $1,298,840. Company insiders own 2.00% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Profund Advisors LLC grew its position in shares of Oclaro by 24.0% during the 1st quarter. Profund Advisors LLC now owns 31,786 shares of the semiconductor company’s stock valued at $304,000 after acquiring an additional 6,148 shares during the period. Legal & General Group Plc grew its position in shares of Oclaro by 1.9% during the 1st quarter. Legal & General Group Plc now owns 346,304 shares of the semiconductor company’s stock valued at $3,293,000 after acquiring an additional 6,612 shares during the period. Prudential Financial Inc. grew its position in shares of Oclaro by 3.1% during the 1st quarter. Prudential Financial Inc. now owns 283,600 shares of the semiconductor company’s stock valued at $2,711,000 after acquiring an additional 8,620 shares during the period. Swiss National Bank grew its position in shares of Oclaro by 3.2% during the 4th quarter. Swiss National Bank now owns 282,100 shares of the semiconductor company’s stock valued at $1,901,000 after acquiring an additional 8,700 shares during the period. Finally, Pinnacle Associates Ltd. grew its position in shares of Oclaro by 4.6% during the 1st quarter. Pinnacle Associates Ltd. now owns 214,995 shares of the semiconductor company’s stock valued at $2,055,000 after acquiring an additional 9,410 shares during the period. 72.34% of the stock is owned by hedge funds and other institutional investors.
Oclaro Company Profile
Oclaro, Inc designs, manufactures, and markets optical components, modules, and subsystems for the long-haul, metro, and data center markets worldwide. The company's products generate, detect, combine, and separate light signals in optical communications networks. It offers client side transceivers, including pluggable transceivers; line side transceivers; tunable laser transmitters, such as discrete lasers and co-packaged laser modulators; lithium niobate modulators to manipulate the phase or the amplitude of an optical signal; transponder modules for transmitter and receiver functions; and discrete lasers and receivers for metro and long-haul applications.
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