Oclaro, Inc. (NASDAQ:OCLR) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

Several other analysts have also recently issued reports on OCLR. B. Riley reissued a “buy” rating and issued a $11.75 target price on shares of Oclaro in a research note on Thursday, August 3rd. DA Davidson reissued a “buy” rating and issued a $11.00 target price on shares of Oclaro in a research note on Thursday. Craig Hallum cut Oclaro from a “buy” rating to a “hold” rating in a research note on Thursday. Jefferies Group LLC reissued a “buy” rating and issued a $12.50 target price on shares of Oclaro in a research note on Wednesday. Finally, Needham & Company LLC cut Oclaro from a “strong-buy” rating to a “buy” rating and cut their target price for the stock from $14.00 to $9.00 in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $12.67.

Oclaro (NASDAQ:OCLR) last posted its earnings results on Wednesday, November 1st. The semiconductor company reported $0.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.02. The company had revenue of $155.60 million for the quarter, compared to analysts’ expectations of $154.51 million. Oclaro had a return on equity of 29.43% and a net margin of 24.31%. Oclaro’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period last year, the firm earned $0.14 earnings per share.

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In other news, EVP David Teichmann sold 20,132 shares of Oclaro stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $8.37, for a total transaction of $168,504.84. Following the completion of the transaction, the executive vice president now directly owns 422,126 shares in the company, valued at $3,533,194.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the executive vice president now owns 246,090 shares of the company’s stock, valued at $2,079,460.50. The disclosure for this sale can be found here. Insiders sold 85,183 shares of company stock valued at $747,174 over the last 90 days. 2.00% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in OCLR. Everence Capital Management Inc. purchased a new position in shares of Oclaro during the third quarter valued at approximately $110,000. Shelton Capital Management purchased a new position in shares of Oclaro during the second quarter valued at approximately $117,000. LS Investment Advisors LLC purchased a new position in shares of Oclaro during the second quarter valued at approximately $122,000. Ameritas Investment Partners Inc. lifted its holdings in shares of Oclaro by 53.3% during the second quarter. Ameritas Investment Partners Inc. now owns 14,542 shares of the semiconductor company’s stock valued at $136,000 after purchasing an additional 5,057 shares during the last quarter. Finally, GLG Partners LP purchased a new position in shares of Oclaro during the second quarter valued at approximately $140,000. Hedge funds and other institutional investors own 70.69% 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Oclaro (NASDAQ:OCLR)

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