Shares of Oclaro, Inc. (NASDAQ:OCLR) have earned a consensus recommendation of “Buy” from the sixteen brokerages that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $13.33.
Several research firms recently weighed in on OCLR. MKM Partners restated a “buy” rating and set a $12.00 price target (up previously from $10.50) on shares of Oclaro in a report on Wednesday, July 26th. BidaskClub lowered Oclaro from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $21.00 target price (down previously from $35.00) on shares of Oclaro in a research note on Thursday, July 13th. Stifel Nicolaus reiterated a “buy” rating and issued a $12.00 target price (up previously from $10.00) on shares of Oclaro in a research note on Monday, July 10th. Finally, ValuEngine lowered Oclaro from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 8th.
Shares of Oclaro (NASDAQ OCLR) traded up 0.25% on Friday, hitting $8.10. 3,879,986 shares of the company traded hands. The firm’s 50 day moving average price is $8.61 and its 200-day moving average price is $8.95. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of 10.52 and a beta of 1.61. Oclaro has a 1-year low of $6.91 and a 1-year high of $11.30.
Oclaro (NASDAQ:OCLR) last released its quarterly earnings results on Wednesday, August 2nd. The semiconductor company reported $0.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.03. Oclaro had a return on equity of 27.63% and a net margin of 21.28%. The company had revenue of $149.38 million for the quarter, compared to analyst estimates of $148.04 million. During the same quarter in the prior year, the firm posted $0.11 EPS. Oclaro’s quarterly revenue was up 19.3% compared to the same quarter last year. On average, equities research analysts expect that Oclaro will post $0.74 earnings per share for the current year.
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In other Oclaro news, CEO Greg Dougherty sold 40,000 shares of the firm’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $9.12, for a total value of $364,800.00. Following the completion of the sale, the chief executive officer now owns 1,441,386 shares of the company’s stock, valued at $13,145,440.32. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP David Teichmann sold 20,132 shares of the firm’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $8.37, for a total value of $168,504.84. Following the completion of the sale, the executive vice president now directly owns 422,126 shares of the company’s stock, valued at approximately $3,533,194.62. The disclosure for this sale can be found here. In the last three months, insiders sold 85,183 shares of company stock valued at $747,174. Corporate insiders own 2.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its holdings in Oclaro by 120.0% in the second quarter. BlackRock Inc. now owns 16,827,106 shares of the semiconductor company’s stock worth $157,166,000 after acquiring an additional 9,177,551 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Oclaro by 17.9% in the second quarter. Vanguard Group Inc. now owns 8,326,122 shares of the semiconductor company’s stock worth $77,766,000 after purchasing an additional 1,265,269 shares during the last quarter. Teachers Advisors LLC raised its stake in shares of Oclaro by 574.9% in the first quarter. Teachers Advisors LLC now owns 5,129,019 shares of the semiconductor company’s stock worth $50,367,000 after purchasing an additional 4,369,074 shares during the last quarter. State Street Corp raised its stake in shares of Oclaro by 54.0% in the second quarter. State Street Corp now owns 3,841,177 shares of the semiconductor company’s stock worth $35,877,000 after purchasing an additional 1,346,216 shares during the last quarter. Finally, Quentec Asset Management LLC raised its stake in shares of Oclaro by 33.9% in the second quarter. Quentec Asset Management LLC now owns 2,592,207 shares of the semiconductor company’s stock worth $24,211,000 after purchasing an additional 655,567 shares during the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.
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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