Oclaro (NASDAQ:OCLR) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a report released on Friday.

Several other research firms have also recently weighed in on OCLR. Piper Jaffray Companies reiterated a “buy” rating and issued a $12.00 price objective on shares of Oclaro in a report on Thursday, August 3rd. Raymond James Financial started coverage on Oclaro in a report on Thursday, September 14th. They issued a “strong-buy” rating and a $12.00 price objective for the company. B. Riley reiterated a “buy” rating and issued a $11.75 price objective on shares of Oclaro in a report on Tuesday, August 8th. Jefferies Group reiterated a “buy” rating and issued a $12.50 price objective on shares of Oclaro in a report on Wednesday, November 1st. Finally, DA Davidson reiterated a “buy” rating and issued a $11.00 price objective on shares of Oclaro in a report on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $12.67.

Oclaro (OCLR) traded down $0.11 during midday trading on Friday, reaching $7.01. The company’s stock had a trading volume of 5,758,018 shares, compared to its average volume of 5,661,511. Oclaro has a 1-year low of $5.86 and a 1-year high of $11.30. The stock has a market cap of $1,201.72, a PE ratio of 9.13, a P/E/G ratio of 1.04 and a beta of 1.32.

Oclaro (NASDAQ:OCLR) last released its quarterly earnings data on Wednesday, November 1st. The semiconductor company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.02. Oclaro had a return on equity of 28.11% and a net margin of 24.31%. The business had revenue of $155.60 million during the quarter, compared to analysts’ expectations of $154.51 million. During the same quarter last year, the business posted $0.14 EPS. The business’s revenue was up 14.8% on a year-over-year basis. equities analysts expect that Oclaro will post 0.51 earnings per share for the current fiscal year.

In other news, CAO Michael H. Fernicola sold 7,016 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $6.21, for a total value of $43,569.36. Following the completion of the transaction, the chief accounting officer now owns 81,378 shares in the company, valued at approximately $505,357.38. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Thomas Gordon Beck Mason sold 39,255 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $7.22, for a total value of $283,421.10. Following the completion of the transaction, the insider now owns 171,226 shares of the company’s stock, valued at approximately $1,236,251.72. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Shelton Capital Management purchased a new position in Oclaro during the second quarter valued at $117,000. Everence Capital Management Inc. purchased a new position in Oclaro during the third quarter valued at $110,000. LS Investment Advisors LLC purchased a new position in Oclaro during the second quarter valued at $122,000. Ameritas Investment Partners Inc. raised its stake in 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 buying an additional 5,057 shares during the last quarter. Finally, GLG Partners LP purchased a new position in Oclaro during the second quarter valued at $140,000. Institutional investors own 70.77% of the company’s stock.

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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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