Oclaro Inc. (OCLR) Rating Reiterated by B. Riley
Oclaro Inc. (NASDAQ:OCLR)‘s stock had its “buy” rating reiterated by analysts at B. Riley in a research report issued on Thursday. They presently have a $11.00 price target on the stock. B. Riley’s target price points to a potential upside of 22.36% from the company’s current price.
Other research analysts have also issued research reports about the company. Piper Jaffray Cos. upped their price objective on Oclaro to $7.50 in a report on Wednesday, August 3rd. Vetr lowered Oclaro from a “strong-buy” rating to a “buy” rating and set a $8.25 price objective on the stock. in a report on Monday, August 22nd. MKM Partners upped their price objective on Oclaro from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Wednesday, August 3rd. Stifel Nicolaus upped their price objective on Oclaro from $6.50 to $7.50 and gave the stock a “buy” rating in a report on Wednesday, August 3rd. Finally, TheStreet raised Oclaro from a “hold” rating to a “buy” rating in a report on Wednesday, August 3rd. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $8.78.
Oclaro (NASDAQ:OCLR) traded down 2.49% on Thursday, hitting $8.99. The stock had a trading volume of 2,596,843 shares. The stock’s 50 day moving average is $8.40 and its 200 day moving average is $6.03. Oclaro has a one year low of $2.37 and a one year high of $9.34. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 115.26 and a beta of 1.82.
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Oclaro (NASDAQ:OCLR) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.11 earnings per share for the quarter, topping the Zacks’ 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 firm had revenue of $125.20 million for the quarter, compared to analyst estimates of $119.41 million. During the same quarter in the prior year, the company posted ($0.06) earnings per share. Oclaro’s quarterly revenue was up 52.3% on a year-over-year basis. 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 the stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $6.00, for a total transaction of $117,036.00. Following the transaction, 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 Securities & Exchange Commission, which is accessible through this link. Also, EVP Lisa Paul sold 9,363 shares of the stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $7.69, for a total value of $72,001.47. Following the transaction, 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.
A number of institutional investors have recently added to or reduced their stakes in the company. Bayesian Capital Management LP acquired a new position in Oclaro during the first quarter valued at $107,000. Peconic Partners LLC increased its position 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 acquired a new position in Oclaro during the second quarter valued at $108,000. Compagnie Lombard Odier SCmA acquired a new position in Oclaro during the second quarter valued at $122,000. Finally, BlackRock Group LTD acquired a new position in Oclaro during the second quarter valued at $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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