Oclaro Inc. (NASDAQ:OCLR) was downgraded by Vetr from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Thursday. They presently have a $10.31 price target on the stock. Vetr‘s target price would suggest a potential upside of 11.82% from the company’s current price.
OCLR has been the topic of several other reports. Zacks Investment Research cut shares of Oclaro from a “buy” rating to a “hold” rating in a research note on Wednesday, July 6th. Needham & Company LLC raised shares of Oclaro from a “buy” rating to a “strong-buy” rating and upped their price objective for the stock from $7.00 to $7.50 in a research note on Monday, July 25th. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $6.75 price objective on shares of Oclaro in a research note on Monday, August 1st. B. Riley reaffirmed a “buy” rating and set a $8.00 price objective on shares of Oclaro in a research note on Wednesday, August 3rd. Finally, Stifel Nicolaus upped their price objective on shares of Oclaro from $6.50 to $7.50 and gave the stock a “buy” rating in a research note on Wednesday, August 3rd. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $8.65.
Shares of Oclaro (NASDAQ:OCLR) traded up 1.77% during trading on Thursday, hitting $9.22. The stock had a trading volume of 3,482,798 shares. Oclaro has a one year low of $2.37 and a one year high of $9.34. The stock’s 50-day moving average price is $8.36 and its 200 day moving average price is $6.00. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 118.21 and a beta of 1.82.
Oclaro (NASDAQ:OCLR) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.05. Oclaro had a net margin of 2.10% and a return on equity of 6.24%. The firm earned $125.20 million during the quarter, compared to analyst estimates of $119.41 million. During the same quarter in the prior year, the business posted ($0.06) earnings per share. The company’s quarterly revenue was up 52.3% compared to the same quarter last year. On average, equities analysts forecast that Oclaro will post $0.39 EPS for the current year.
In other Oclaro news, EVP Lisa Paul sold 9,363 shares of the firm’s 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 transaction, the executive vice president now directly owns 218,264 shares of the company’s stock, valued at $1,678,450.16. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Adam Carter sold 19,506 shares of the firm’s stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $6.00, for a total transaction of $117,036.00. Following the completion of the transaction, the insider now directly owns 202,584 shares in the company, valued at $1,215,504. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in OCLR. Bayesian Capital Management LP purchased a new stake in Oclaro during the first quarter valued at $107,000. Peconic Partners LLC raised its stake in Oclaro by 100.0% in the first quarter. Peconic Partners LLC now owns 20,000 shares of the company’s stock valued at $108,000 after buying an additional 10,000 shares during the period. Stifel Financial Corp purchased a new stake in Oclaro during the second quarter valued at $108,000. Compagnie Lombard Odier SCmA purchased a new stake in Oclaro during the second quarter valued at $122,000. Finally, BlackRock Group LTD purchased a new stake in Oclaro during the second quarter valued at $124,000. 62.49% of the stock is currently owned by hedge funds and other institutional investors.
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.
To view Vetr’s full report, visit Vetr’s official website.
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