Oclaro, Inc. (OCLR) Earns “Buy” Rating from Northland Securities
Oclaro, Inc. (NASDAQ:OCLR)‘s stock had its “buy” rating restated by equities research analysts at Northland Securities in a research report issued to clients and investors on Friday. They presently have a $12.75 price target on the semiconductor company’s stock. Northland Securities’ target price would indicate a potential upside of 40.57% from the stock’s current price.
Several other research analysts also recently commented on the company. Raymond James Financial, Inc. started coverage on Oclaro in a research note on Thursday. They issued a “strong-buy” rating and a $12.00 price objective on the stock. MKM Partners reaffirmed a “buy” rating and issued a $12.00 price objective (up previously from $10.50) on shares of Oclaro in a research note on Wednesday, July 26th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $21.00 price objective (down previously from $35.00) on shares of Oclaro in a research note on Thursday, July 13th. ValuEngine raised Oclaro from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 3rd. Finally, BidaskClub downgraded Oclaro from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Two equities research analysts have rated the stock with a sell rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $12.95.
Shares of Oclaro (NASDAQ OCLR) traded up 3.42% during midday trading on Friday, hitting $9.07. The stock had a trading volume of 15,967,052 shares. The stock’s 50 day moving average price is $8.69 and its 200 day moving average price is $9.10. Oclaro has a 12 month low of $6.92 and a 12 month high of $11.30. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of 11.78 and a beta of 1.61.
Oclaro (NASDAQ:OCLR) last posted its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.16 by $0.03. Oclaro had a return on equity of 27.63% and a net margin of 21.28%. The firm had revenue of $149.38 million for the quarter, compared to the consensus estimate of $148.04 million. During the same quarter last year, the company earned $0.11 earnings per share. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. On average, equities analysts forecast that Oclaro will post $0.74 EPS for the current fiscal year.
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In other Oclaro news, CEO Greg Dougherty sold 40,000 shares of Oclaro stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $9.12, for a total value of $364,800.00. Following the sale, the chief executive officer now owns 1,441,386 shares of the company’s stock, valued at approximately $13,145,440.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Lisa Paul sold 12,182 shares of Oclaro stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $8.45, for a total value of $102,937.90. Following the completion of the sale, the executive vice president now directly owns 246,090 shares in the company, valued at approximately $2,079,460.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 85,183 shares of company stock worth $747,174. Corporate insiders own 2.30% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Advisory Services Network LLC increased its stake in Oclaro by 452.5% in the 2nd quarter. Advisory Services Network LLC now owns 53,092 shares of the semiconductor company’s stock worth $496,000 after acquiring an additional 43,482 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Oclaro in the 2nd quarter worth approximately $315,000. Piedmont Investment Advisors LLC bought a new stake in Oclaro in the 2nd quarter worth approximately $257,000. Ameritas Investment Partners Inc. increased its stake in Oclaro by 53.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 14,542 shares of the semiconductor company’s stock worth $136,000 after acquiring an additional 5,057 shares during the last quarter. Finally, Delphi Management Inc. MA increased its stake in Oclaro by 10.3% in the 2nd quarter. Delphi Management Inc. MA now owns 236,920 shares of the semiconductor company’s stock worth $2,213,000 after acquiring an additional 22,084 shares during the last quarter. 70.47% of the stock is currently owned by institutional investors and hedge funds.
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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