Oclaro (NASDAQ:OCLR) was downgraded by analysts at Needham & Company LLC from a “buy” rating to a “hold” rating in a research note issued on Monday, December 18th, Marketbeat reports.
Other analysts have also recently issued reports about the stock. ValuEngine upgraded shares of Oclaro from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Northland Securities reissued a “buy” rating and set a $12.75 price target on shares of Oclaro in a research report on Friday, September 15th. Cowen reaffirmed a “buy” rating on shares of Oclaro in a report on Friday, November 3rd. DA Davidson reissued a “buy” rating and issued a $11.00 price target on shares of Oclaro in a report on Thursday, November 2nd. Finally, Jefferies Group reissued a “buy” rating and issued a $12.50 price target on shares of Oclaro in a report on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $12.67.
Shares of Oclaro (OCLR) traded down $0.17 on Monday, hitting $6.96. 4,412,045 shares of the stock traded hands, compared to its average volume of 4,590,000. The stock has a market capitalization of $1,170.00, a P/E ratio of 7.82, a P/E/G ratio of 1.04 and a beta of 1.30. Oclaro has a 1-year low of $5.86 and a 1-year high of $11.30.
Oclaro (NASDAQ:OCLR) last posted its earnings results on Wednesday, November 1st. The semiconductor company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. Oclaro had a net margin of 24.31% and a return on equity of 28.11%. The business had revenue of $155.60 million for the quarter, compared to the consensus estimate of $154.51 million. During the same quarter last year, the firm posted $0.14 EPS. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. analysts expect that Oclaro will post 0.51 earnings per share for the current fiscal year.
In related news, EVP Lisa Paul sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $7.45, for a total transaction of $37,250.00. Following the sale, the executive vice president now directly owns 232,950 shares in the company, valued at $1,735,477.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas Gordon Beck Mason sold 39,255 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $7.22, for a total transaction of $283,421.10. Following the sale, the insider now owns 171,226 shares in the company, valued at $1,236,251.72. The disclosure for this sale can be found here. Insiders have sold 51,271 shares of company stock worth $364,240 over the last quarter. Insiders own 2.00% of the company’s stock.
Several hedge funds have recently bought and sold shares of OCLR. Everence Capital Management Inc. acquired a new stake in shares of Oclaro in the third quarter valued at approximately $110,000. Shelton Capital Management acquired a new stake in shares of Oclaro in the second quarter valued at approximately $117,000. Ameritas Investment Partners Inc. lifted its holdings in shares of Oclaro by 53.3% during the second quarter. Ameritas Investment Partners Inc. now owns 14,542 shares of the semiconductor company’s stock worth $136,000 after purchasing an additional 5,057 shares during the period. GLG Partners LP acquired a new stake in shares of Oclaro during the second quarter worth $140,000. Finally, Sei Investments Co. lifted its holdings in shares of Oclaro by 150.9% during the third quarter. Sei Investments Co. now owns 17,105 shares of the semiconductor company’s stock worth $147,000 after purchasing an additional 10,288 shares during the period. 70.59% of the stock is owned by institutional investors and hedge funds.
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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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