Raymond James Financial restated their market perform rating on shares of Oclaro (NASDAQ:OCLR) in a report issued on Tuesday morning. The firm currently has a $12.00 price objective on the semiconductor company’s stock.
A number of other analysts have also recently weighed in on OCLR. ValuEngine upgraded Oclaro from a hold rating to a buy rating in a research report on Friday, December 1st. Needham & Company LLC cut Oclaro from a buy rating to a hold rating in a research report on Monday, December 18th. Zacks Investment Research upgraded Oclaro from a sell rating to a hold rating in a research report on Wednesday, January 3rd. Stifel Nicolaus dropped their price target on Oclaro from $10.00 to $8.50 and set a buy rating on the stock in a research report on Wednesday, January 24th. Finally, Loop Capital initiated coverage on Oclaro in a research report on Monday, January 29th. They set a buy rating and a $10.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Hold and an average price target of $10.43.
Shares of Oclaro (NASDAQ:OCLR) opened at $10.04 on Tuesday. The firm has a market capitalization of $1,696.01, a P/E ratio of 12.24, a PEG ratio of 1.76 and a beta of 0.91. Oclaro has a 1 year low of $5.61 and a 1 year high of $10.93.
In other Oclaro news, EVP David Teichmann sold 24,962 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $6.41, for a total transaction of $160,006.42. Following the completion of 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Lisa Paul sold 5,000 shares of the stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $7.45, for a total value of $37,250.00. Following the transaction, the executive vice president now directly owns 232,950 shares of the company’s stock, valued at $1,735,477.50. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of OCLR. Crossmark Global Holdings Inc. bought a new position in Oclaro during the 3rd quarter valued at $351,000. Victory Capital Management Inc. boosted its stake in Oclaro by 46.2% during the 3rd quarter. Victory Capital Management Inc. now owns 266,762 shares of the semiconductor company’s stock valued at $2,302,000 after purchasing an additional 84,342 shares in the last quarter. New York State Teachers Retirement System boosted its stake in Oclaro by 26.3% during the 3rd quarter. New York State Teachers Retirement System now owns 78,367 shares of the semiconductor company’s stock valued at $676,000 after purchasing an additional 16,300 shares in the last quarter. State of Tennessee Treasury Department boosted its stake in Oclaro by 24.3% during the 3rd quarter. State of Tennessee Treasury Department now owns 147,479 shares of the semiconductor company’s stock valued at $1,273,000 after purchasing an additional 28,784 shares in the last quarter. Finally, American Century Companies Inc. bought a new position in Oclaro during the 3rd quarter valued at $874,000. 68.75% of the stock is owned by hedge funds and other institutional investors.
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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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