Oclaro, Inc. (OCLR) Given Consensus Recommendation of “Buy” by Analysts
Shares of Oclaro, Inc. (NASDAQ:OCLR) have received a consensus rating of “Buy” from the sixteen analysts that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, twelve have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $13.13.
A number of equities analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Oclaro from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. B. Riley reaffirmed a “buy” rating and issued a $11.75 price target on shares of Oclaro in a research note on Tuesday, August 8th. Cowen and Company reaffirmed an “outperform” rating and issued a $14.00 price target (up from $13.00) on shares of Oclaro in a research note on Thursday, August 3rd. Needham & Company LLC reaffirmed a “strong-buy” rating and issued a $14.00 price target on shares of Oclaro in a research note on Thursday, August 3rd. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $12.50 price target (up from $12.00) on shares of Oclaro in a research note on Thursday, August 3rd.
In related news, CEO Greg Dougherty sold 40,000 shares of the company’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $9.12, for a total value of $364,800.00. Following the completion of the sale, the chief executive officer now directly owns 1,441,386 shares in the company, valued at $13,145,440.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lisa Paul sold 12,182 shares of the company’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $8.45, for a total transaction of $102,937.90. Following the completion of the sale, the executive vice president now owns 246,090 shares of the company’s stock, valued at $2,079,460.50. The disclosure for this sale can be found here. Insiders sold 85,183 shares of company stock valued at $747,174 over the last quarter. 2.30% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Shelton Capital Management bought a new stake in Oclaro in the second quarter worth $117,000. National Asset Management Inc. boosted its holdings in Oclaro by 15.2% during the first quarter. National Asset Management Inc. now owns 12,144 shares of the semiconductor company’s stock valued at $121,000 after acquiring an additional 1,601 shares during the period. LS Investment Advisors LLC bought a new stake in Oclaro during the second quarter valued at about $122,000. Ameritas Investment Partners Inc. boosted its holdings in Oclaro by 53.3% during the second quarter. Ameritas Investment Partners Inc. now owns 14,542 shares of the semiconductor company’s stock valued at $136,000 after acquiring an additional 5,057 shares during the period. Finally, GLG Partners LP bought a new stake in Oclaro during the second quarter valued at about $140,000. Hedge funds and other institutional investors own 70.47% of the company’s stock.
Shares of Oclaro (OCLR) traded up 1.34% during midday trading on Friday, hitting $8.32. The stock had a trading volume of 3,894,179 shares. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of 10.81 and a beta of 1.61. The company’s 50-day moving average price is $8.88 and its 200-day moving average price is $9.13. Oclaro has a 12-month low of $6.92 and a 12-month high of $11.30.
Oclaro (NASDAQ:OCLR) last posted its quarterly earnings results on Wednesday, August 2nd. The semiconductor company reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.03. Oclaro had a net margin of 21.28% and a return on equity of 27.63%. The business had revenue of $149.38 million for the quarter, compared to the consensus estimate of $148.04 million. During the same period in the prior year, the business posted $0.11 earnings per share. Oclaro’s revenue for the quarter was up 19.3% compared to the same quarter last year. Equities research analysts forecast that Oclaro will post $0.74 EPS for the current year.
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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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