A number of other analysts have also recently commented on OCLR. 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. Loop Capital cut shares of Oclaro from a buy rating to a hold rating in a research note on Monday, March 12th. Piper Jaffray Companies cut shares of Oclaro from an overweight rating to a neutral rating in a research note on Monday, March 12th. B. Riley restated a neutral rating and set a $10.00 target price on shares of Oclaro in a research note on Tuesday, March 13th. Finally, Stifel Nicolaus cut shares of Oclaro from a buy rating to a hold rating in a research note on Monday, March 12th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $10.43.
Shares of Oclaro (OCLR) traded up $0.02 during trading on Wednesday, reaching $9.88. 3,137,455 shares of the company’s stock traded hands, compared to its average volume of 6,685,822. The company has a market capitalization of $1,663.82, a price-to-earnings ratio of 12.12, a PEG ratio of 1.73 and a beta of 0.91. Oclaro has a twelve month low of $5.61 and a twelve month high of $10.93.
Oclaro (NASDAQ:OCLR) last issued its earnings results on Monday, February 5th. The semiconductor company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02. The company had revenue of $139.30 million for the quarter, compared to the consensus estimate of $138.83 million. Oclaro had a net margin of 23.00% and a return on equity of 23.17%. The firm’s revenue for the quarter was down 9.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.21 earnings per share. analysts expect that Oclaro will post 0.44 EPS for the current fiscal year.
In other Oclaro news, EVP Lisa Paul sold 5,000 shares of Oclaro stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $10.10, for a total value of $50,500.00. Following the transaction, the executive vice president now owns 216,886 shares in the company, valued at $2,190,548.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David Teichmann sold 9,474 shares of Oclaro stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $10.00, for a total value of $94,740.00. Following the completion of the transaction, the executive vice president now owns 314,869 shares in the company, valued at approximately $3,148,690. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 119,436 shares of company stock valued at $1,088,446. 2.00% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Xact Kapitalforvaltning AB acquired a new stake in Oclaro in the fourth quarter worth about $156,000. Segall Bryant & Hamill LLC boosted its holdings in Oclaro by 85.7% in the fourth quarter. Segall Bryant & Hamill LLC now owns 501,877 shares of the semiconductor company’s stock worth $3,383,000 after acquiring an additional 231,612 shares in the last quarter. MetLife Investment Advisors LLC acquired a new stake in Oclaro in the fourth quarter worth about $429,000. Municipal Employees Retirement System of Michigan lifted its holdings in shares of Oclaro by 39.3% during the fourth quarter. Municipal Employees Retirement System of Michigan now owns 193,680 shares of the semiconductor company’s stock worth $1,306,000 after purchasing an additional 54,650 shares during the period. Finally, Meadow Creek Investment Management LLC acquired a new stake in shares of Oclaro during the fourth quarter worth about $147,000. 68.46% of the stock is owned by institutional investors and hedge funds.
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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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