Oclaro Inc. (NASDAQ:OCLR) has received a consensus recommendation of “Hold” from the eighteen analysts that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $10.66.
A number of research analysts have recently weighed in on OCLR shares. ValuEngine upgraded Oclaro from a “hold” rating to a “buy” rating in a report on Thursday. Zacks Investment Research upgraded Oclaro from a “sell” rating to a “hold” rating in a report on Tuesday, May 15th. B. Riley decreased their price target on Oclaro from $10.00 to $9.50 and set a “neutral” rating for the company in a research report on Wednesday, May 9th. Northland Securities reaffirmed a “buy” rating and set a $11.25 price target on shares of Oclaro in a research report on Tuesday, April 17th. Finally, Morgan Stanley increased their price target on Oclaro from $8.00 to $10.00 and gave the company a “hold” rating in a research report on Wednesday, April 11th.
In other Oclaro news, EVP Lisa Paul sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 15th. The stock was sold at an average price of $10.10, for a total transaction of $50,500.00. Following the transaction, the executive vice president now owns 216,886 shares in the company, valued at approximately $2,190,548.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Greg Dougherty sold 80,000 shares of the company’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $9.79, for a total value of $783,200.00. Following the transaction, 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 90 days, insiders have sold 134,474 shares of company stock worth $1,298,840. 2.00% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. boosted its position in shares of Oclaro by 7.3% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 782,459 shares of the semiconductor company’s stock worth $5,274,000 after purchasing an additional 53,110 shares in the last quarter. Strs Ohio increased its holdings in shares of Oclaro by 7.7% in the 4th quarter. Strs Ohio now owns 350,000 shares of the semiconductor company’s stock valued at $2,359,000 after purchasing an additional 25,000 shares during the period. SG Americas Securities LLC increased its holdings in shares of Oclaro by 45.8% in the 4th quarter. SG Americas Securities LLC now owns 150,675 shares of the semiconductor company’s stock valued at $1,016,000 after purchasing an additional 47,355 shares during the period. Legato Capital Management LLC increased its holdings in shares of Oclaro by 40.1% in the 4th quarter. Legato Capital Management LLC now owns 62,486 shares of the semiconductor company’s stock valued at $421,000 after purchasing an additional 17,878 shares during the period. Finally, Commerzbank Aktiengesellschaft FI increased its holdings in Oclaro by 4.1% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 452,850 shares of the semiconductor company’s stock worth $3,052,000 after buying an additional 17,989 shares during the last quarter. Hedge funds and other institutional investors own 72.34% of the company’s stock.
Oclaro traded up $0.12, hitting $9.00, during trading hours on Friday, according to Marketbeat Ratings. 356,595 shares of the company’s stock were exchanged, compared to its average volume of 5,496,811. Oclaro has a 1-year low of $5.61 and a 1-year high of $10.93. The stock has a market capitalization of $1.51 billion, a P/E ratio of 12.00, a P/E/G ratio of 1.58 and a beta of 0.75.
Oclaro (NASDAQ:OCLR) last released its earnings results on Tuesday, May 8th. The semiconductor company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.08 by $0.03. The business had revenue of $127.30 million during the quarter, compared to analysts’ expectations of $124.37 million. Oclaro had a return on equity of 17.65% and a net margin of 19.60%. The firm’s revenue was down 21.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.23 earnings per share. sell-side analysts predict that Oclaro will post 0.43 earnings per share for the current year.
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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