Oclaro (NASDAQ:OCLR) was downgraded by equities researchers at Piper Jaffray Companies from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Monday, The Fly reports.
A number of other analysts have also recently commented on OCLR. ValuEngine raised Oclaro from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Needham & Company LLC cut Oclaro from a “buy” rating to a “hold” rating in a research note on Monday, December 18th. Zacks Investment Research raised Oclaro from a “sell” rating to a “hold” rating in a research note on Wednesday, January 3rd. Stifel Nicolaus lowered their target price on Oclaro from $10.00 to $8.50 and set a “buy” rating for the company in a research note on Wednesday, January 24th. Finally, Loop Capital initiated coverage on Oclaro in a research note on Monday, January 29th. They set a “buy” rating and a $10.00 target price for the company. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. Oclaro has a consensus rating of “Buy” and an average target price of $10.03.
Shares of Oclaro (NASDAQ:OCLR) opened at $7.85 on Monday. The company has a market capitalization of $1,330.04, a PE ratio of 9.57, a PEG ratio of 1.34 and a beta of 0.91. Oclaro has a 52 week low of $5.61 and a 52 week high of $10.93.
In other Oclaro news, EVP Lisa Paul sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $7.45, for a total transaction of $37,250.00. Following the completion of the transaction, the executive vice president now owns 232,950 shares of the company’s stock, valued at approximately $1,735,477.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP David Teichmann sold 24,962 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $6.41, for a total value of $160,006.42. Following the transaction, the executive vice president now directly owns 349,305 shares of the company’s stock, valued at approximately $2,239,045.05. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the business. Xact Kapitalforvaltning AB acquired a new position in Oclaro during the 4th quarter worth approximately $156,000. Segall Bryant & Hamill LLC boosted its position in Oclaro by 85.7% during the 4th quarter. Segall Bryant & Hamill LLC now owns 501,877 shares of the semiconductor company’s stock worth $3,383,000 after acquiring an additional 231,612 shares during the last quarter. MetLife Investment Advisors LLC acquired a new position in Oclaro during the 4th quarter worth approximately $429,000. Municipal Employees Retirement System of Michigan boosted its position in Oclaro by 39.3% during the 4th quarter. Municipal Employees Retirement System of Michigan now owns 193,680 shares of the semiconductor company’s stock worth $1,306,000 after acquiring an additional 54,650 shares during the last quarter. Finally, Meadow Creek Investment Management LLC acquired a new position in Oclaro during the 4th quarter worth approximately $147,000. 68.75% of the stock is owned by hedge funds and other institutional investors.
Oclaro Company Profile
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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