Oclaro, Inc. (OCLR) Receives Average Recommendation of “Buy” from Analysts
Shares of Oclaro, Inc. (NASDAQ:OCLR) have earned a consensus recommendation of “Buy” from the seventeen research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $13.10.
A number of research analysts have commented on OCLR shares. Needham & Company LLC reaffirmed a “strong-buy” rating and issued a $14.00 target price on shares of Oclaro in a research report on Monday, June 12th. DA Davidson started coverage on shares of Oclaro in a research report on Thursday, June 22nd. They issued a “buy” rating and a $14.00 target price on the stock. Northland Securities reiterated a “buy” rating and set a $12.00 price target on shares of Oclaro in a research note on Friday, June 23rd. ValuEngine lowered shares of Oclaro from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 8th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $12.00 price target (up from $10.00) on shares of Oclaro in a research note on Monday, July 10th.
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Oclaro (OCLR) traded up 0.11% on Wednesday, reaching $8.74. 4,038,566 shares of the company traded hands. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of 11.35 and a beta of 1.61. Oclaro has a 1-year low of $6.91 and a 1-year high of $11.30. The stock has a 50 day moving average of $8.60 and a 200-day moving average of $9.09.
Oclaro (NASDAQ:OCLR) last posted its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.19 EPS for the quarter, beating 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 company had revenue of $149.38 million for the quarter, compared to analysts’ expectations of $148.04 million. During the same quarter in the prior year, the company posted $0.11 earnings per share. Oclaro’s revenue for the quarter was up 19.3% compared to the same quarter last year. On average, equities analysts anticipate that Oclaro will post $0.74 EPS for the current year.
In other Oclaro news, CEO Greg Dougherty sold 40,000 shares of the stock in a transaction that occurred 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 transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lisa Paul sold 12,182 shares of the 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 completion of the transaction, the executive vice president now owns 246,090 shares in the company, valued at $2,079,460.50. The disclosure for this sale can be found here. Insiders have sold 85,183 shares of company stock worth $747,174 over the last 90 days. Insiders own 2.00% of the company’s stock.
A number of institutional investors have recently made changes to their positions in OCLR. Russell Investments Group Ltd. increased its stake in Oclaro by 13.3% in the first quarter. Russell Investments Group Ltd. now owns 267,258 shares of the semiconductor company’s stock valued at $2,624,000 after purchasing an additional 31,367 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Oclaro by 16.1% in the first quarter. Bank of New York Mellon Corp now owns 907,574 shares of the semiconductor company’s stock valued at $8,912,000 after purchasing an additional 126,136 shares during the last quarter. Suntrust Banks Inc. increased its stake in Oclaro by 1.9% in the first quarter. Suntrust Banks Inc. now owns 19,133 shares of the semiconductor company’s stock valued at $187,000 after purchasing an additional 355 shares during the last quarter. Swiss National Bank increased its stake in Oclaro by 1.6% in the first quarter. Swiss National Bank now owns 273,400 shares of the semiconductor company’s stock valued at $2,685,000 after purchasing an additional 4,400 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its stake in Oclaro by 20.9% in the first quarter. UBS Asset Management Americas Inc. now owns 57,069 shares of the semiconductor company’s stock valued at $560,000 after purchasing an additional 9,870 shares during the last quarter. Institutional investors 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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