Oclaro Inc. (NASDAQ:OCLR) has received an average recommendation of “Buy” from the thirteen research firms that are currently covering the firm. One analyst has rated the stock with a hold rating, nine have given a buy rating and three have given a strong buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $7.95.
OCLR has been the subject of a number of research reports. Stifel Nicolaus lifted their price target on Oclaro from $7.50 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, September 6th. Vetr downgraded Oclaro from a “strong-buy” rating to a “buy” rating and set a $8.25 target price for the company. in a research note on Monday, August 22nd. Piper Jaffray Cos. restated an “overweight” rating and issued a $9.00 target price on shares of Oclaro in a research note on Wednesday, September 7th. Zacks Investment Research upgraded Oclaro from a “hold” rating to a “strong-buy” rating and set a $8.50 target price for the company in a research note on Wednesday, August 17th. Finally, MKM Partners restated a “buy” rating on shares of Oclaro in a research note on Monday, June 6th.
In related news, insider Adam Carter sold 19,506 shares of the business’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $6.00, for a total transaction of $117,036.00. Following the sale, the insider now owns 202,584 shares of the company’s stock, valued at $1,215,504. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Lisa Paul sold 9,363 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $7.69, for a total value of $72,001.47. Following the sale, the executive vice president now directly owns 218,264 shares in the company, valued at approximately $1,678,450.16. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.
A number of large investors have recently made changes to their positions in OCLR. B. Riley Financial Inc. boosted its stake in shares of Oclaro by 2.1% in the second quarter. B. Riley Financial Inc. now owns 43,803 shares of the company’s stock valued at $214,000 after buying an additional 900 shares during the last quarter. Algert Global LLC purchased a new stake in shares of Oclaro during the first quarter valued at approximately $150,000. CI Investments Inc. purchased a new stake in shares of Oclaro during the second quarter valued at approximately $2,179,000. Integral Derivatives LLC boosted its stake in shares of Oclaro by 1.6% in the second quarter. Integral Derivatives LLC now owns 27,318 shares of the company’s stock valued at $133,000 after buying an additional 418 shares during the last quarter. Finally, Bayesian Capital Management LP purchased a new stake in shares of Oclaro during the first quarter valued at approximately $107,000. 62.49% of the stock is currently owned by hedge funds and other institutional investors.
Oclaro (NASDAQ:OCLR) opened at 8.55 on Friday. Oclaro has a 1-year low of $2.37 and a 1-year high of $9.34. The company has a 50-day moving average price of $8.14 and a 200 day moving average price of $5.87. The stock has a market capitalization of $1.26 billion, a P/E ratio of 109.62 and a beta of 1.86.
Oclaro (NASDAQ:OCLR) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.11 EPS for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.05. The business earned $125.20 million during the quarter, compared to the consensus estimate of $119.41 million. Oclaro had a return on equity of 6.24% and a net margin of 2.10%. The company’s revenue for the quarter was up 52.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.06) earnings per share. On average, equities analysts predict that Oclaro will post $0.39 EPS for the current year.
Oclaro, Inc is a provider of optical components, modules and subsystems for the optical transport, service provider, enterprise and data center markets. The Company supplies optical network technology to telecommunication and data communication equipment companies across the world. The Company designs, manufactures and markets optical components, modules and subsystems that generate, detect, combine and separate light signals in optical communications networks.
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