Oclaro, Inc. (OCLR) Receives Consensus Rating of “Buy” from Analysts
Shares of Oclaro, Inc. (NASDAQ:OCLR) have been given a consensus recommendation of “Buy” by the fifteen research firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, twelve have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $12.90.
Several brokerages have commented on OCLR. B. Riley reissued a “buy” rating and set a $12.00 target price on shares of Oclaro in a research note on Wednesday, May 3rd. Stifel Nicolaus reissued a “buy” rating and set a $12.00 target price (up previously from $10.00) on shares of Oclaro in a research note on Monday, July 10th. ValuEngine cut Oclaro from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 8th. Jefferies Group LLC reduced their price target on Oclaro from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Wednesday, May 3rd. Finally, Northland Securities restated a “buy” rating and set a $12.00 price target on shares of Oclaro in a report on Friday, June 23rd.
Shares of Oclaro (NASDAQ OCLR) traded up 0.41% on Friday, hitting $9.90. 5,762,220 shares of the stock traded hands. The stock has a 50 day moving average of $9.67 and a 200-day moving average of $9.26. The stock has a market cap of $1.66 billion, a PE ratio of 18.00 and a beta of 1.54. Oclaro has a 1-year low of $5.18 and a 1-year high of $11.30.
Oclaro (NASDAQ:OCLR) last issued its earnings results on Tuesday, May 2nd. The semiconductor company reported $0.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.04. The firm had revenue of $162.18 million during the quarter, compared to the consensus estimate of $160.06 million. Oclaro had a return on equity of 28.78% and a net margin of 14.51%. During the same quarter in the previous year, the firm earned $0.03 earnings per share. On average, equities research analysts expect that Oclaro will post $0.76 EPS for the current year.
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In related news, CEO Greg Dougherty sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $9.00, for a total value of $360,000.00. Following the sale, the chief executive officer now directly owns 1,220,619 shares in the company, valued at $10,985,571. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 completion of the sale, the insider now owns 61,292 shares in the company, valued at $537,530.84. The disclosure for this sale can be found here. Insiders sold 124,031 shares of company stock worth $1,114,852 over the last quarter. 2.30% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in the stock. Emerald Advisers Inc. PA bought a new stake in shares of Oclaro during the first quarter valued at approximately $13,079,000. State Street Corp boosted its stake 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 during the last quarter. Hudson Bay Capital Management LP bought a new stake in shares of Oclaro during the fourth quarter valued at approximately $3,133,000. Russell Investments Group Ltd. bought a new stake in shares of Oclaro during the fourth quarter valued at approximately $2,156,000. Finally, Princeton Capital Management Inc. bought a new stake in shares of Oclaro during the first quarter valued at approximately $617,000. Institutional investors and hedge funds own 70.30% 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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