Oclaro (OCLR) Price Target Cut to $8.50 by Analysts at Stifel Nicolaus

Oclaro (NASDAQ:OCLR) had its price target reduced by analysts at Stifel Nicolaus from $10.00 to $8.50 in a report released on Wednesday, Marketbeat.com reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ price target indicates a potential upside of 38.66% from the stock’s current price.

A number of other brokerages have also issued reports on OCLR. Needham & Company LLC lowered shares of Oclaro from a “buy” rating to a “hold” rating in a research note on Monday, December 18th. Jefferies Group reissued a “buy” rating and issued a $12.50 price objective on shares of Oclaro in a report on Wednesday, November 1st. Zacks Investment Research upgraded Oclaro from a “sell” rating to a “hold” rating in a research note on Wednesday, January 3rd. DA Davidson reiterated a “buy” rating and issued a $11.00 price objective on shares of Oclaro in a research report on Thursday, November 2nd. Finally, Craig Hallum cut Oclaro from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $12.38.

Oclaro (NASDAQ:OCLR) traded up $0.09 during trading hours on Wednesday, hitting $6.13. 2,574,357 shares of the stock were exchanged, compared to its average volume of 4,640,000. Oclaro has a twelve month low of $5.82 and a twelve month high of $11.30. The company has a market cap of $1,050.00, a PE ratio of 6.89, a P/E/G ratio of 0.90 and a beta of 1.30.

Oclaro (NASDAQ:OCLR) last posted its earnings results on Wednesday, November 1st. The semiconductor company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.02. The firm had revenue of $155.60 million during the quarter, compared to analyst estimates of $154.51 million. Oclaro had a net margin of 24.31% and a return on equity of 28.11%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.14 EPS. sell-side analysts predict that Oclaro will post 0.5 earnings per share for the current year.

In other Oclaro news, insider Thomas Gordon Beck Mason sold 39,255 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $7.22, for a total value of $283,421.10. Following the sale, the insider now directly owns 171,226 shares of the company’s stock, valued at approximately $1,236,251.72. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Lisa Paul sold 5,000 shares of the firm’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $7.45, for a total value of $37,250.00. Following the completion of the sale, 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. In the last ninety days, insiders have sold 51,271 shares of company stock worth $364,240. Corporate insiders own 2.00% of the company’s stock.

A number of large investors have recently modified their holdings of OCLR. Dana Investment Advisors Inc. boosted its position in Oclaro by 0.5% during the 2nd quarter. Dana Investment Advisors Inc. now owns 247,463 shares of the semiconductor company’s stock valued at $2,311,000 after purchasing an additional 1,327 shares during the period. ProShare Advisors LLC lifted its position in shares of Oclaro by 28.3% during the 2nd quarter. ProShare Advisors LLC now owns 16,531 shares of the semiconductor company’s stock worth $154,000 after purchasing an additional 3,650 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of Oclaro by 2.2% during the 2nd quarter. Nordea Investment Management AB now owns 180,290 shares of the semiconductor company’s stock worth $1,684,000 after purchasing an additional 3,826 shares during the last quarter. Advisor Group Inc. lifted its position in shares of Oclaro by 26.6% during the 2nd quarter. Advisor Group Inc. now owns 22,945 shares of the semiconductor company’s stock worth $214,000 after purchasing an additional 4,820 shares during the last quarter. Finally, Ameritas Investment Partners Inc. lifted its position in shares of Oclaro by 53.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 14,542 shares of the semiconductor company’s stock worth $136,000 after purchasing an additional 5,057 shares during the last quarter. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Oclaro (NASDAQ:OCLR)

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