Oclaro (NASDAQ:OCLR) was downgraded by equities research analysts at Raymond James Financial from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.
A number of other equities analysts also recently issued reports on the company. UBS Group upgraded Oclaro from a “sell” rating to a “neutral” rating and set a $10.00 price objective for the company in a report on Wednesday. B. Riley reiterated a “neutral” rating and issued a $10.00 price objective on shares of Oclaro in a report on Tuesday. Stifel Nicolaus downgraded Oclaro from a “buy” rating to a “hold” rating in a report on Monday. Loop Capital downgraded Oclaro from a “buy” rating to a “hold” rating in a report on Monday. Finally, Piper Jaffray Companies downgraded Oclaro from an “overweight” rating to a “neutral” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Oclaro currently has an average rating of “Hold” and an average price target of $10.43.
Oclaro (NASDAQ OCLR) traded up $0.10 on Wednesday, reaching $10.14. The company’s stock had a trading volume of 5,443,658 shares, compared to its average volume of 6,455,964. The company has a market capitalization of $1,700.00, a P/E ratio of 12.37, a price-to-earnings-growth ratio of 1.76 and a beta of 0.91. Oclaro has a twelve month low of $5.61 and a twelve month high of $10.93.
In related news, EVP David Teichmann sold 24,962 shares of Oclaro stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $6.41, for a total value of $160,006.42. Following the completion of the sale, the executive vice president now directly owns 349,305 shares in the company, valued at approximately $2,239,045.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Lisa Paul sold 5,000 shares of Oclaro 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 owns 232,950 shares of the company’s stock, valued at $1,735,477.50. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OCLR. Essex Investment Management Co. LLC bought a new stake in Oclaro in the 4th quarter worth about $824,000. TFS Capital LLC purchased a new position in Oclaro in the fourth quarter worth about $1,592,000. Hood River Capital Management LLC purchased a new position in Oclaro in the fourth quarter worth about $9,766,000. 1492 Capital Management LLC purchased a new position in Oclaro in the fourth quarter worth about $3,188,000. Finally, Driehaus Capital Management LLC boosted its position in Oclaro by 269.2% in the fourth quarter. Driehaus Capital Management LLC now owns 838,870 shares of the semiconductor company’s stock worth $2,919,000 after purchasing an additional 611,654 shares during the last quarter. Institutional investors own 68.75% of the company’s stock.
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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