Oclaro’s (OCLR) Buy Rating Reiterated at Stifel Nicolaus
Oclaro, Inc. (NASDAQ:OCLR)‘s stock had its “buy” rating reissued by stock analysts at Stifel Nicolaus in a report released on Friday. They currently have a $12.00 price objective on the semiconductor company’s stock. Stifel Nicolaus’ price target suggests a potential upside of 36.99% from the company’s previous close.
Other equities research analysts also recently issued research reports about the stock. B. Riley restated a “buy” rating and issued a $11.75 price objective on shares of Oclaro in a research report on Tuesday, August 8th. ValuEngine downgraded shares of Oclaro from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 8th. Northland Securities restated a “buy” rating and issued a $12.75 price objective on shares of Oclaro in a research report on Friday, September 15th. Jefferies Group LLC restated a “buy” rating and issued a $12.50 price objective (up previously from $12.00) on shares of Oclaro in a research report on Thursday, August 3rd. Finally, MKM Partners restated a “buy” rating and issued a $12.00 price objective (up previously from $10.50) on shares of Oclaro in a research report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $13.10.
Shares of Oclaro (NASDAQ OCLR) traded up 1.50% during trading on Friday, hitting $8.77. The stock had a trading volume of 5,350,739 shares. The stock’s 50-day moving average is $8.61 and its 200-day moving average is $9.08. Oclaro has a 12-month low of $6.91 and a 12-month high of $11.30. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of 11.39 and a beta of 1.61. Oclaro also was the target of unusually large options trading activity on Wednesday. Investors acquired 10,887 put options on the stock. This represents an increase of approximately 381% compared to the typical volume of 2,264 put options.
Oclaro (NASDAQ:OCLR) last announced its quarterly earnings data 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. The firm had revenue of $149.38 million during the quarter, compared to the consensus estimate of $148.04 million. Oclaro had a net margin of 21.28% and a return on equity of 27.63%. The firm’s revenue was up 19.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.11 earnings per share. On average, equities research analysts expect that Oclaro will post $0.74 EPS for the current year.
In other news, EVP Lisa Paul sold 12,182 shares of Oclaro 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 sale, the executive vice president now directly owns 246,090 shares in the company, valued at approximately $2,079,460.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Michael H. Fernicola sold 12,869 shares of Oclaro stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $8.62, for a total transaction of $110,930.78. Following the sale, the insider now owns 106,225 shares of the company’s stock, valued at $915,659.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 85,183 shares of company stock valued at $747,174. Insiders own 2.00% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Greenwood Capital Associates LLC lifted its position in shares of Oclaro by 3.4% during the 2nd quarter. Greenwood Capital Associates LLC now owns 45,494 shares of the semiconductor company’s stock valued at $425,000 after acquiring an additional 1,483 shares during the period. Pinnacle Associates Ltd. lifted its position in shares of Oclaro by 16.2% during the 2nd quarter. Pinnacle Associates Ltd. now owns 168,715 shares of the semiconductor company’s stock valued at $1,576,000 after acquiring an additional 23,525 shares during the period. ING Groep NV acquired a new stake in shares of Oclaro during the 2nd quarter valued at approximately $13,957,000. Thompson Siegel & Walmsley LLC lifted its position in shares of Oclaro by 59.1% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 1,556,047 shares of the semiconductor company’s stock valued at $14,533,000 after acquiring an additional 577,873 shares during the period. Finally, Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Oclaro during the 2nd quarter valued at approximately $4,072,000. 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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