Equities researchers at Raymond James Financial, Inc. assumed coverage on shares of Oclaro, Inc. (NASDAQ:OCLR) in a report issued on Thursday. The brokerage set a “strong-buy” rating and a $12.00 price target on the semiconductor company’s stock. Raymond James Financial, Inc.’s price target suggests a potential upside of 36.83% from the company’s current price.

Other research analysts also recently issued research reports about the stock. B. Riley reaffirmed a “buy” rating and issued a $11.75 target price on shares of Oclaro in a report on Thursday, August 3rd. ValuEngine cut shares of Oclaro from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 8th. Jefferies Group LLC restated a “buy” rating and set a $12.50 target price (up from $12.00) on shares of Oclaro in a research report on Thursday, August 3rd. MKM Partners restated a “buy” rating and set a $12.00 target price (up from $10.50) on shares of Oclaro in a research report on Wednesday, July 26th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $12.00 price objective (up from $10.00) on shares of Oclaro in a research report on Monday, July 10th. Two investment analysts have rated the stock with a sell rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $12.90.

Shares of Oclaro (OCLR) traded down 2.01% during midday trading on Thursday, reaching $8.77. The company had a trading volume of 7,112,357 shares. The stock has a market capitalization of $1.48 billion, a PE ratio of 11.39 and a beta of 1.61. The stock’s 50 day moving average is $8.79 and its 200-day moving average is $9.10. Oclaro has a 12-month low of $6.91 and a 12-month high of $11.30.

Oclaro (NASDAQ:OCLR) last announced its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. The business had revenue of $149.38 million during the quarter, compared to analyst estimates of $148.04 million. Oclaro had a net margin of 21.28% and a return on equity of 27.63%. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.11 EPS. On average, equities research analysts predict that Oclaro will post $0.74 earnings per share for the current fiscal year.

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In related news, EVP Lisa Paul sold 12,182 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $8.45, for a total transaction of $102,937.90. Following the sale, the executive vice president now directly owns 246,090 shares of the company’s stock, valued at approximately $2,079,460.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael H. Fernicola sold 12,869 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $8.62, for a total transaction of $110,930.78. Following the sale, the insider now directly owns 106,225 shares in the company, valued at $915,659.50. The disclosure for this sale can be found here. Insiders sold a total of 85,183 shares of company stock worth $747,174 over the last three months. Insiders own 2.30% of the company’s stock.

Several large investors have recently made changes to their positions in the business. BlackRock Inc. increased its position in shares of Oclaro by 120.0% in the 2nd quarter. BlackRock Inc. now owns 16,827,106 shares of the semiconductor company’s stock valued at $157,166,000 after purchasing an additional 9,177,551 shares during the last quarter. Kopp Investment Advisors LLC boosted its holdings in shares of Oclaro by 4.4% in the 2nd quarter. Kopp Investment Advisors LLC now owns 11,097,537 shares of the semiconductor company’s stock valued at $54,156,000 after buying an additional 467,170 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Oclaro by 30.5% in the 1st quarter. Wellington Management Group LLP now owns 9,737,747 shares of the semiconductor company’s stock valued at $95,624,000 after buying an additional 2,278,171 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Oclaro by 17.9% in the 2nd quarter. Vanguard Group Inc. now owns 8,326,122 shares of the semiconductor company’s stock valued at $77,766,000 after buying an additional 1,265,269 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Oclaro by 77.5% in the 1st quarter. Ameriprise Financial Inc. now owns 7,973,627 shares of the semiconductor company’s stock valued at $78,300,000 after buying an additional 3,481,430 shares in the last quarter. 70.47% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Oclaro (NASDAQ:OCLR)

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