Oclaro (NASDAQ:OCLR) was downgraded by analysts at Piper Jaffray Companies from an “overweight” rating to a “neutral” rating in a research note issued on Monday, The Fly reports.
A number of other analysts have also issued reports on the company. Needham & Company LLC lowered Oclaro from a “buy” rating to a “hold” rating in a report on Monday, December 18th. Zacks Investment Research upgraded Oclaro from a “sell” rating to a “hold” rating in a report on Wednesday, January 3rd. Morgan Stanley started coverage on Oclaro in a report on Friday. They issued an “equal weight” rating and a $8.00 target price for the company. Stifel Nicolaus reduced their target price on Oclaro from $10.00 to $8.50 and set a “buy” rating for the company in a report on Wednesday, January 24th. Finally, ValuEngine upgraded Oclaro from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $10.03.
Shares of Oclaro (NASDAQ OCLR) opened at $7.85 on Monday. Oclaro has a 52-week low of $5.61 and a 52-week high of $10.93. The company has a market capitalization of $1,330.04, a price-to-earnings ratio of 9.57, a PEG ratio of 1.34 and a beta of 0.91.
In related news, EVP Lisa Paul sold 5,000 shares of the 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 sale, the executive vice president now directly owns 232,950 shares in the company, valued at $1,735,477.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP David Teichmann sold 24,962 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $6.41, for a total value of $160,006.42. Following the sale, the executive vice president now owns 349,305 shares of the company’s stock, valued at $2,239,045.05. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in OCLR. BlackRock Inc. raised its holdings in shares of Oclaro by 120.0% during the second quarter. BlackRock Inc. now owns 16,827,106 shares of the semiconductor company’s stock worth $157,166,000 after acquiring an additional 9,177,551 shares in the last quarter. Teachers Advisors LLC increased its position in Oclaro by 574.9% during the first quarter. Teachers Advisors LLC now owns 5,129,019 shares of the semiconductor company’s stock worth $50,367,000 after buying an additional 4,369,074 shares during the last quarter. Ameriprise Financial Inc. increased its position in Oclaro by 77.5% during the first quarter. Ameriprise Financial Inc. now owns 7,973,627 shares of the semiconductor company’s stock worth $78,300,000 after buying an additional 3,481,430 shares during the last quarter. Hood River Capital Management LLC acquired a new position in Oclaro during the fourth quarter worth $9,766,000. Finally, Victory Capital Management Inc. increased its position in Oclaro by 952.3% during the fourth quarter. Victory Capital Management Inc. now owns 2,807,219 shares of the semiconductor company’s stock worth $18,921,000 after buying an additional 2,540,457 shares during the last quarter. Institutional investors and hedge funds own 68.75% of the company’s stock.
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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