Several other equities research analysts have also weighed in on OCLR. MKM Partners reissued a buy rating on shares of Oclaro in a research report on Monday, June 6th. Zacks Investment Research lowered Oclaro from a buy rating to a hold rating in a research report on Wednesday, July 6th. Needham & Company LLC raised Oclaro from a buy rating to a strong-buy rating and raised their target price for the stock from $7.00 to $7.50 in a research report on Monday, July 25th. Piper Jaffray Cos. reissued an overweight rating and set a $6.75 target price on shares of Oclaro in a research report on Monday, August 1st. Finally, B. Riley reissued a buy rating and set a $8.00 target price on shares of Oclaro in a research report on Wednesday, August 3rd. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. Oclaro currently has an average rating of Buy and a consensus target price of $8.48.
Oclaro (NASDAQ:OCLR) opened at 9.06 on Monday. Oclaro has a one year low of $2.37 and a one year high of $9.34. The firm has a 50-day moving average of $8.29 and a 200-day moving average of $5.98. The company has a market capitalization of $1.34 billion, a P/E ratio of 116.15 and a beta of 1.82.
Oclaro (NASDAQ:OCLR) last issued its earnings results on Wednesday, August 3rd. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.05. Oclaro had a return on equity of 6.24% and a net margin of 2.10%. The business had revenue of $125.20 million for the quarter, compared to analyst estimates of $119.41 million. During the same quarter last year, the company earned ($0.06) EPS. The business’s quarterly revenue was up 52.3% on a year-over-year basis. On average, analysts anticipate that Oclaro will post $0.39 earnings per share for the current year.
In related news, insider Adam Carter sold 19,506 shares of Oclaro stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $6.00, for a total value of $117,036.00. Following the sale, the insider now directly owns 202,584 shares in the company, valued at $1,215,504. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Lisa Paul sold 9,363 shares of Oclaro stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $7.69, for a total value of $72,001.47. Following the completion of the sale, the executive vice president now owns 218,264 shares in the company, valued at $1,678,450.16. The disclosure for this sale can be found here. 2.30% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of the stock. Bayesian Capital Management LP acquired a new stake in Oclaro during the first quarter worth $107,000. Peconic Partners LLC increased its stake in Oclaro by 100.0% in the first quarter. Peconic Partners LLC now owns 20,000 shares of the company’s stock worth $108,000 after buying an additional 10,000 shares during the period. Stifel Financial Corp acquired a new stake in Oclaro during the second quarter worth $108,000. Compagnie Lombard Odier SCmA acquired a new stake in Oclaro during the second quarter worth $122,000. Finally, BlackRock Group LTD acquired a new stake in Oclaro during the second quarter worth $124,000. Hedge funds and other institutional investors own 62.49% of the company’s stock.
Oclaro Company Profile
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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