Oclaro (NASDAQ:OCLR) was downgraded by equities research analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a research note issued on Monday, The Fly reports.
Other analysts have also recently issued reports about the company. Cowen reaffirmed a “buy” rating and issued a $8.00 price objective on shares of Oclaro in a research report on Tuesday, February 6th. Jefferies Group cut Oclaro from a “buy” rating to a “hold” rating and set a $6.50 price objective for the company. in a research report on Friday, February 2nd. Loop Capital cut Oclaro from a “buy” rating to a “hold” rating in a research report on Monday. Piper Jaffray Companies cut Oclaro from an “overweight” rating to a “neutral” rating in a research report on Monday. Finally, DA Davidson cut their price objective on Oclaro from $11.00 to $9.00 and set a “buy” rating for the company in a research report on Tuesday, February 6th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. Oclaro has an average rating of “Hold” and a consensus target price of $10.03.
Oclaro (OCLR) traded up $2.11 on Monday, hitting $9.96. The stock had a trading volume of 58,743,748 shares, compared to its average volume of 5,712,159. Oclaro has a 52 week low of $5.61 and a 52 week high of $10.93. The firm has a market capitalization of $1,690.00, a PE ratio of 12.17, a price-to-earnings-growth ratio of 1.34 and a beta of 0.91.
In other news, EVP Lisa Paul sold 5,000 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now 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 the SEC website. Also, EVP David Teichmann sold 24,962 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 349,305 shares in the company, valued at approximately $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 hedge funds and other institutional investors have recently made changes to their positions in the company. Swiss National Bank increased its stake in shares of Oclaro by 3.2% during the fourth quarter. Swiss National Bank now owns 282,100 shares of the semiconductor company’s stock worth $1,901,000 after purchasing an additional 8,700 shares during the period. Piedmont Investment Advisors LLC increased its stake in Oclaro by 33.7% during the 3rd quarter. Piedmont Investment Advisors LLC now owns 36,740 shares of the semiconductor company’s stock worth $317,000 after acquiring an additional 9,251 shares during the period. MML Investors Services LLC increased its stake in Oclaro by 46.6% during the 4th quarter. MML Investors Services LLC now owns 31,331 shares of the semiconductor company’s stock worth $211,000 after acquiring an additional 9,958 shares during the period. Sei Investments Co. increased its stake in Oclaro by 150.9% during the 3rd quarter. Sei Investments Co. now owns 17,105 shares of the semiconductor company’s stock worth $147,000 after acquiring an additional 10,288 shares during the period. Finally, OppenheimerFunds Inc. increased its stake in Oclaro by 21.7% during the 4th quarter. OppenheimerFunds Inc. now owns 59,322 shares of the semiconductor company’s stock worth $400,000 after acquiring an additional 10,589 shares during the period. Institutional investors own 68.75% 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.
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