Oclaro (NASDAQ:OCLR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “Oclaro, with headquarters in San Jose, California, is a tier 1 provider of high performance optical components, modules and subsystems to the telecommunications market, and is one of the largest providers to metro and long haul network applications. Oclaro, the result of the combination of Bookham, Inc. and Avanex Corporation, leverages proprietary core technologies and vertically integrated product development to provide its customers with cost-effective and innovative optical devices, modules and subsystems. Its photonic technologies also serve selected potential high growth markets, including industrial, defense, life sciences, semiconductor, and scientific, with diversification providing both significant potential revenue streams and strategic technological advantage. Oclaro is a global company, with leading chip fabrication facilities in the UK, Switzerland and Italy, and manufacturing sites in the US, Thailand and China. “
A number of other research analysts also recently weighed in on OCLR. Raymond James Financial initiated coverage on shares of Oclaro in a research report on Thursday, September 14th. They issued a “strong-buy” rating and a $12.00 target price for the company. Northland Securities reaffirmed a “buy” rating and issued a $12.75 target price on shares of Oclaro in a research report on Friday, September 15th. Stifel Nicolaus reiterated a “buy” rating and issued a $12.00 price target on shares of Oclaro in a research note on Friday, October 6th. Jefferies Group reiterated a “buy” rating and issued a $12.50 price target on shares of Oclaro in a research note on Wednesday, November 1st. Finally, DA Davidson reiterated a “buy” rating and issued a $11.00 price target on shares of Oclaro in a research note on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $12.67.
Oclaro (NASDAQ:OCLR) last released its earnings results on Wednesday, November 1st. The semiconductor company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. The business had revenue of $155.60 million during the quarter, compared to the consensus estimate of $154.51 million. Oclaro had a net margin of 24.31% and a return on equity of 28.11%. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.14 earnings per share. equities research analysts predict that Oclaro will post 0.51 EPS for the current year.
In other news, EVP Lisa Paul sold 5,000 shares of the firm’s stock in a transaction dated Thursday, December 14th. The shares were 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 owns 232,950 shares in the company, valued at approximately $1,735,477.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Thomas Gordon Beck Mason sold 39,255 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $7.22, for a total transaction of $283,421.10. Following the sale, the insider now owns 171,226 shares of the company’s stock, valued at approximately $1,236,251.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,271 shares of company stock valued at $364,240. 2.00% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Everence Capital Management Inc. bought a new position in Oclaro during the third quarter worth about $110,000. Shelton Capital Management bought a new position in Oclaro during the second quarter worth about $117,000. Ameritas Investment Partners Inc. increased its position in Oclaro by 53.3% during the second quarter. Ameritas Investment Partners Inc. now owns 14,542 shares of the semiconductor company’s stock worth $136,000 after acquiring an additional 5,057 shares during the period. GLG Partners LP bought a new position in Oclaro during the second quarter worth about $140,000. Finally, Sei Investments Co. increased its position in Oclaro by 150.9% during the third 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. 70.59% of the stock is currently owned by institutional investors and hedge funds.
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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