Oclaro, Inc. (NASDAQ:OCLR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday.

According to Zacks, “Oclaro, with headquarters in San Jose, California, is a tier 1 provider of high performance optical components, modules and subsystems to the telecommunications market, and is one of the largest providers to metro and long haul network applications. Oclaro, the result of the combination of Bookham, Inc. and Avanex Corporation, leverages proprietary core technologies and vertically integrated product development to provide its customers with cost-effective and innovative optical devices, modules and subsystems. Its photonic technologies also serve selected potential high growth markets, including industrial, defense, life sciences, semiconductor, and scientific, with diversification providing both significant potential revenue streams and strategic technological advantage. Oclaro is a global company, with leading chip fabrication facilities in the UK, Switzerland and Italy, and manufacturing sites in the US, Thailand and China. “

A number of other equities research analysts also recently issued reports on the stock. Stifel Nicolaus reaffirmed a “buy” rating and set a $12.00 price target (up previously from $10.00) on shares of Oclaro in a research note on Monday, July 10th. ValuEngine lowered shares of Oclaro from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 8th. Northland Securities reissued a “buy” rating and issued a $12.00 price objective on shares of Oclaro in a research note on Friday, June 23rd. DA Davidson assumed coverage on shares of Oclaro in a research note on Thursday, June 22nd. They issued a “buy” rating and a $14.00 price objective for the company. Finally, Jefferies Group LLC restated a “buy” rating and issued a $12.50 target price (up from $12.00) on shares of Oclaro in a report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $12.95.

Shares of Oclaro (OCLR) opened at 8.73 on Wednesday. The firm has a 50-day moving average of $8.59 and a 200 day moving average of $9.09. Oclaro has a 1-year low of $6.91 and a 1-year high of $11.30. The company has a market capitalization of $1.47 billion, a P/E ratio of 11.34 and a beta of 1.61.

Oclaro (NASDAQ:OCLR) last posted its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $148.04 million. During the same period in the prior year, the company earned $0.11 EPS. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. On average, analysts anticipate that Oclaro will post $0.74 EPS for the current year.

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In other Oclaro news, EVP David Teichmann sold 20,132 shares of the stock in a transaction on Friday, August 11th. The stock was sold at an average price of $8.37, for a total value of $168,504.84. Following the sale, the executive vice president now owns 422,126 shares in the company, valued at $3,533,194.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Lisa Paul sold 12,182 shares of the stock in a transaction 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 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 three months, insiders sold 85,183 shares of company stock valued at $747,174. 2.00% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of Oclaro by 120.0% during the second 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 period. Teachers Advisors LLC grew its holdings in shares of Oclaro by 574.9% in the first quarter. Teachers Advisors LLC now owns 5,129,019 shares of the semiconductor company’s stock worth $50,367,000 after purchasing an additional 4,369,074 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Oclaro by 30.5% in the first quarter. Wellington Management Group LLP now owns 9,737,747 shares of the semiconductor company’s stock worth $95,624,000 after purchasing an additional 2,278,171 shares during the last quarter. Neumeier Poma Investment Counsel LLC bought a new position in shares of Oclaro in the second quarter worth about $14,066,000. Finally, ING Groep NV bought a new position in shares of Oclaro in the second quarter worth about $13,957,000. Institutional investors and hedge funds own 70.45% of the company’s stock.

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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Analyst Recommendations for Oclaro (NASDAQ:OCLR)

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