News coverage about Oclaro (NASDAQ:OCLR) has been trending somewhat positive this week, according to Alpha One. The research firm, a service of Accern, identifies positive and negative press coverage by reviewing more than twenty million blog and news sources in real time. Alpha One ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Oclaro earned a media sentiment score of 0.12 on Alpha One’s scale. Alpha One also assigned media coverage about the semiconductor company an impact score of 0 out of 100, indicating that recent press coverage is extremely unlikely to have an effect on the stock’s share price in the next few days.
Here are some of the news headlines that may have effected Alpha One’s rankings:
- Oclaro to Announce Third Quarter Fiscal Year 2017 Financial Results on Tuesday, May 2, 2017 (finance.yahoo.com)
- Benzinga’s Option Alert Recap From April 17 (feeds.benzinga.com)
- Traders Purchase Large Volume of Call Options on Oclaro (OCLR) (americanbankingnews.com)
- Stock on Trader’s Radar: Oclaro, Inc. (NASDAQ:OCLR) – Post Registrar (postregistrar.com)
- Oclaro (OCLR) Receiving Somewhat Favorable Press Coverage, Study Finds (americanbankingnews.com)
Oclaro (NASDAQ:OCLR) traded up 5.0816% on Friday, reaching $8.8899. The company had a trading volume of 6,063,734 shares. The stock has a market capitalization of $1.48 billion, a PE ratio of 26.7768 and a beta of 1.80. The stock’s 50 day moving average price is $9.20 and its 200-day moving average price is $9.00. Oclaro has a 12-month low of $4.25 and a 12-month high of $11.30.
Oclaro (NASDAQ:OCLR) last announced its quarterly earnings data on Tuesday, January 31st. The semiconductor company reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.03. Oclaro had a return on equity of 23.12% and a net margin of 8.83%. The firm had revenue of $153.90 million for the quarter, compared to analysts’ expectations of $150.53 million. During the same period last year, the business posted $0.03 earnings per share. The firm’s revenue for the quarter was up 63.5% on a year-over-year basis. Equities analysts expect that Oclaro will post $0.76 earnings per share for the current fiscal year.
A number of brokerages have recently weighed in on OCLR. Zacks Investment Research upgraded Oclaro from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research note on Wednesday, April 5th. Needham & Company LLC restated a “strong-buy” rating and issued a $14.00 target price on shares of Oclaro in a research note on Wednesday, February 1st. Piper Jaffray Companies restated an “overweight” rating and issued a $15.00 target price on shares of Oclaro in a research note on Friday, March 3rd. MKM Partners restated a “buy” rating on shares of Oclaro in a research note on Thursday, December 22nd. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $12.00 price objective on shares of Oclaro in a research note on Monday, January 23rd. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $12.42.
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In other Oclaro news, COO James Douglas Haynes sold 20,000 shares of the stock in a transaction on Thursday, February 16th. The stock was sold at an average price of $10.68, for a total value of $213,600.00. Following the sale, the chief operating officer now directly owns 309,277 shares of the company’s stock, valued at $3,303,078.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael H. Fernicola sold 4,563 shares of the stock in a transaction on Tuesday, February 14th. The stock was sold at an average price of $10.02, for a total value of $45,721.26. Following the completion of the sale, the insider now directly owns 68,908 shares in the company, valued at $690,458.16. The disclosure for this sale can be found here. Insiders have sold 87,126 shares of company stock worth $837,403 over the last 90 days. 2.30% of the stock is currently owned by company insiders.
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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