Oclaro, Inc. (NASDAQ:OCLR) was downgraded by analysts at Craig Hallum from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, November 2nd.
OCLR has been the topic of a number of other reports. Raymond James Financial, Inc. initiated coverage on shares of Oclaro in a research note on Thursday, September 14th. They issued a “strong-buy” rating and a $12.00 price target on the stock. MKM Partners restated a “buy” rating and issued a $12.00 target price (up previously from $10.50) on shares of Oclaro in a report on Wednesday, July 26th. Cantor Fitzgerald reiterated an “overweight” rating and set a $21.00 price target (down previously from $35.00) on shares of Oclaro in a research note on Thursday, July 13th. BidaskClub cut shares of Oclaro from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Finally, Jefferies Group LLC restated a “buy” rating and set a $12.50 price objective on shares of Oclaro in a research report on Wednesday, November 1st. Two analysts have rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Oclaro has an average rating of “Buy” and a consensus price target of $12.67.
Shares of Oclaro (NASDAQ:OCLR) opened at $6.18 on Thursday. Oclaro has a one year low of $5.86 and a one year high of $11.30. The firm has a market cap of $1,049.82, a P/E ratio of 7.97, a price-to-earnings-growth ratio of 0.91 and a beta of 1.41.
Oclaro (NASDAQ:OCLR) last issued its earnings results on Wednesday, November 1st. The semiconductor company reported $0.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.02. Oclaro had a net margin of 24.31% and a return on equity of 28.11%. The firm had revenue of $155.60 million during the quarter, compared to analysts’ expectations of $154.51 million. During the same quarter last year, the company posted $0.14 earnings per share. The firm’s revenue was up 14.8% compared to the same quarter last year. research analysts forecast that Oclaro will post 0.51 EPS for the current fiscal year.
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In other news, CEO Greg Dougherty sold 40,000 shares of the stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $9.12, for a total transaction of $364,800.00. Following the sale, the chief executive officer now owns 1,441,386 shares in the company, valued at $13,145,440.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lisa Paul sold 12,182 shares of the firm’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $8.45, for a total value of $102,937.90. Following the transaction, the executive vice president now owns 246,090 shares in the company, valued at approximately $2,079,460.50. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Segall Bryant & Hamill LLC acquired a new position in Oclaro in the 3rd quarter valued at $2,332,000. National Planning Corp raised its holdings in Oclaro by 38.4% in the 3rd quarter. National Planning Corp now owns 51,544 shares of the semiconductor company’s stock valued at $450,000 after acquiring an additional 14,300 shares in the last quarter. Stifel Financial Corp raised its holdings in Oclaro by 20.4% in the 3rd quarter. Stifel Financial Corp now owns 71,260 shares of the semiconductor company’s stock valued at $617,000 after acquiring an additional 12,097 shares in the last quarter. Pinnacle Associates Ltd. raised its holdings in Oclaro by 10.5% in the 3rd quarter. Pinnacle Associates Ltd. now owns 186,365 shares of the semiconductor company’s stock valued at $1,608,000 after acquiring an additional 17,650 shares in the last quarter. Finally, Moody Aldrich Partners LLC acquired a new position in Oclaro in the 3rd quarter valued at $643,000. Institutional investors and hedge funds own 71.36% of the company’s stock.
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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