Oclaro (NASDAQ:OCLR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note 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 research firms have also issued reports on OCLR. Raymond James Financial started coverage on Oclaro in a report on Thursday, September 14th. They issued a “strong-buy” rating and a $12.00 target price for the company. Needham & Company LLC lowered Oclaro from a “buy” rating to a “hold” rating in a report on Monday, December 18th. Jefferies Group restated a “buy” rating and issued a $12.50 target price on shares of Oclaro in a report on Wednesday, November 1st. DA Davidson restated a “buy” rating and issued a $11.00 target price on shares of Oclaro in a report on Thursday, November 2nd. Finally, Craig Hallum lowered Oclaro from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $12.67.

Oclaro (OCLR) traded up $0.12 on Wednesday, hitting $7.11. The stock had a trading volume of 2,525,911 shares, compared to its average volume of 3,978,250. The stock has a market capitalization of $1,200.00, a price-to-earnings ratio of 7.98, a P/E/G ratio of 0.98 and a beta of 1.30. Oclaro has a one year low of $5.86 and a one year high of $11.30.

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

In other news, insider Thomas Gordon Beck Mason sold 39,255 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 171,226 shares of the company’s stock, valued at $1,236,251.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lisa Paul sold 5,000 shares of the company’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $7.45, for a total transaction of $37,250.00. Following the completion of the transaction, the executive vice president now directly owns 232,950 shares in the company, valued at $1,735,477.50. The disclosure for this sale can be found here. Insiders sold 51,271 shares of company stock worth $364,240 over the last ninety days. 2.00% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Dana Investment Advisors Inc. increased its position in Oclaro by 9.7% during the third quarter. Dana Investment Advisors Inc. now owns 271,389 shares of the semiconductor company’s stock worth $2,342,000 after buying an additional 23,926 shares during the last quarter. Piedmont Investment Advisors LLC increased its position in Oclaro by 33.7% during the third quarter. Piedmont Investment Advisors LLC now owns 36,740 shares of the semiconductor company’s stock worth $317,000 after buying an additional 9,251 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in Oclaro by 74.2% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 27,556 shares of the semiconductor company’s stock worth $238,000 after buying an additional 11,735 shares during the last quarter. Cubist Systematic Strategies LLC increased its position in Oclaro by 799.0% during the third quarter. Cubist Systematic Strategies LLC now owns 202,448 shares of the semiconductor company’s stock worth $1,747,000 after buying an additional 179,928 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Oclaro during the third quarter worth $1,889,000. 70.59% of the stock is currently owned by institutional investors and hedge funds.

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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.

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