Oclaro Inc (OCLR) Receives Consensus Rating of “Buy” from Analysts

Oclaro Inc (NASDAQ:OCLR) has been assigned an average recommendation of “Buy” from the eighteen research firms that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $10.27.

OCLR has been the subject of several research analyst reports. Needham & Company LLC downgraded shares of Oclaro from a “strong-buy” rating to a “buy” rating and decreased their price objective for the company from $14.00 to $9.00 in a research note on Thursday, November 2nd. DA Davidson reiterated a “buy” rating and set a $11.00 target price on shares of Oclaro in a research note on Thursday, November 2nd. Jefferies Group reiterated a “buy” rating and set a $12.50 target price on shares of Oclaro in a research note on Wednesday, November 1st. Northland Securities reiterated a “buy” rating and set a $12.75 target price on shares of Oclaro in a research note on Wednesday, November 1st. Finally, ValuEngine upgraded shares of Oclaro from a “hold” rating to a “buy” rating in a research note on Friday, December 1st.

In related news, CAO Michael H. Fernicola sold 7,016 shares of the stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $6.21, for a total transaction of $43,569.36. Following the completion of the transaction, the chief accounting officer now directly owns 81,378 shares of the company’s stock, valued at $505,357.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lisa Paul sold 5,000 shares of the stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $7.45, for a total transaction of $37,250.00. Following the transaction, the executive vice president now directly owns 232,950 shares of the company’s stock, valued at $1,735,477.50. The disclosure for this sale can be found here. Insiders have sold 51,271 shares of company stock valued at $364,240 over the last three months. 2.00% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. SeaCrest Wealth Management LLC purchased a new position in Oclaro during the fourth quarter worth about $119,000. Heartland Advisors Inc. raised its holdings in Oclaro by 100.0% during the fourth quarter. Heartland Advisors Inc. now owns 300,000 shares of the semiconductor company’s stock worth $2,022,000 after purchasing an additional 150,000 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Oclaro by 952.3% in the fourth quarter. Victory Capital Management Inc. now owns 2,807,219 shares of the semiconductor company’s stock valued at $18,921,000 after buying an additional 2,540,457 shares in the last quarter. Engineers Gate Manager LP purchased a new position in Oclaro in the fourth quarter valued at about $968,000. Finally, Quantitative Systematic Strategies LLC purchased a new position in Oclaro in the fourth quarter valued at about $228,000. 70.69% of the stock is owned by hedge funds and other institutional investors.

Oclaro (NASDAQ:OCLR) opened at $6.83 on Wednesday. Oclaro has a 12 month low of $5.61 and a 12 month high of $11.30. The stock has a market cap of $1,150.00, a price-to-earnings ratio of 7.67, a price-to-earnings-growth ratio of 0.90 and a beta of 1.14.

Oclaro (NASDAQ:OCLR) last released its quarterly earnings data on Monday, February 5th. The semiconductor company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. Oclaro had a net margin of 24.31% and a return on equity of 28.11%. The company had revenue of $139.30 million during the quarter, compared to the consensus estimate of $138.83 million. During the same quarter in the prior year, the firm posted $0.21 earnings per share. Oclaro’s revenue for the quarter was down 9.5% on a year-over-year basis. research analysts forecast that Oclaro will post 0.49 earnings per share for the current fiscal year.

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About Oclaro

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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