Oclaro’s (OCLR) “Buy” Rating Reiterated at Stifel Nicolaus
Oclaro, Inc. (NASDAQ:OCLR)‘s stock had its “buy” rating reiterated by analysts at Stifel Nicolaus in a research note issued on Monday. They presently have a $12.00 target price on the semiconductor company’s stock, up from their prior target price of $10.00. Stifel Nicolaus’ price target points to a potential upside of 25.39% from the stock’s previous close.
Other equities research analysts have also issued research reports about the stock. B. Riley reissued a “buy” rating and set a $12.00 price objective on shares of Oclaro in a research note on Wednesday, May 3rd. ValuEngine lowered shares of Oclaro from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Zacks Investment Research lowered shares of Oclaro from a “hold” rating to a “sell” rating in a research note on Friday, May 5th. MKM Partners reissued a “buy” rating and set a $10.50 price objective (down previously from $12.00) on shares of Oclaro in a research note on Thursday, May 4th. Finally, Jefferies Group LLC reissued a “buy” rating on shares of Oclaro in a research note on Thursday, March 16th. One equities research analyst has rated the stock with a sell rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Oclaro currently has a consensus rating of “Buy” and an average target price of $12.07.
Oclaro (NASDAQ:OCLR) traded up 2.51% during mid-day trading on Monday, reaching $9.81. The company had a trading volume of 2,160,193 shares. Oclaro has a 12-month low of $4.68 and a 12-month high of $11.30. The firm has a 50-day moving average price of $9.37 and a 200 day moving average price of $9.20. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 17.84 and a beta of 1.54.
Oclaro (NASDAQ:OCLR) last posted its quarterly earnings data on Tuesday, May 2nd. The semiconductor company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.18 by $0.04. Oclaro had a net margin of 14.51% and a return on equity of 28.78%. The business had revenue of $162.18 million for the quarter, compared to analyst estimates of $160.06 million. During the same quarter in the previous year, the firm posted $0.03 earnings per share. Analysts expect that Oclaro will post $0.76 EPS for the current year.
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In other news, insider Michael H. Fernicola sold 5,067 shares of the company’s stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $8.77, for a total value of $44,437.59. Following the transaction, the insider now owns 61,292 shares in the company, valued at $537,530.84. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP David Teichmann sold 41,612 shares of the company’s stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $8.88, for a total transaction of $369,514.56. Following the completion of the transaction, the executive vice president now owns 333,738 shares in the company, valued at approximately $2,963,593.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 124,031 shares of company stock worth $1,114,852. Insiders own 2.30% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. purchased a new position in shares of Oclaro during the fourth quarter valued at about $2,156,000. State Street Corp increased its position in shares of Oclaro by 15.4% in the fourth quarter. State Street Corp now owns 2,182,508 shares of the semiconductor company’s stock valued at $19,530,000 after buying an additional 291,667 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Oclaro by 43.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,284,301 shares of the semiconductor company’s stock valued at $20,445,000 after buying an additional 697,014 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its position in shares of Oclaro by 4.4% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 71,062 shares of the semiconductor company’s stock valued at $636,000 after buying an additional 2,984 shares in the last quarter. Finally, Guggenheim Capital LLC increased its position in shares of Oclaro by 108.2% in the fourth quarter. Guggenheim Capital LLC now owns 64,354 shares of the semiconductor company’s stock valued at $576,000 after buying an additional 33,437 shares in the last quarter. Hedge funds and other institutional investors own 70.50% of the company’s stock.
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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