Oclaro (NASDAQ:OCLR)‘s stock had its “buy” rating reissued by equities research analysts at Northland Securities in a note issued to investors on Tuesday. They presently have a $11.25 price target on the semiconductor company’s stock. Northland Securities’ price objective points to a potential upside of 34.09% from the company’s current price.
Other equities analysts have also recently issued research reports about the stock. Morgan Stanley upped their price target on shares of Oclaro from $8.00 to $10.00 and gave the stock a “hold” rating in a research note on Wednesday, April 11th. Loop Capital started coverage on shares of Oclaro in a research note on Monday, January 29th. They issued a “buy” rating and a $10.00 price target on the stock. Stifel Nicolaus lowered their target price on shares of Oclaro from $10.00 to $8.50 and set a “buy” rating on the stock in a research note on Wednesday, January 24th. ValuEngine cut shares of Oclaro from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, UBS upgraded shares of Oclaro from a “sell” rating to a “neutral” rating and set a $10.00 target price on the stock in a research note on Wednesday, March 14th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $10.67.
Shares of OCLR stock traded up $0.40 during mid-day trading on Tuesday, reaching $8.39. 7,811,564 shares of the company’s stock traded hands, compared to its average volume of 6,400,626. Oclaro has a 12 month low of $5.61 and a 12 month high of $10.93. The stock has a market cap of $1,596.05, a PE ratio of 11.20, a price-to-earnings-growth ratio of 1.67 and a beta of 0.71.
Oclaro (NASDAQ:OCLR) last announced its earnings results on Monday, February 5th. The semiconductor company reported $0.14 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.02. Oclaro had a net margin of 23.00% and a return on equity of 23.17%. The firm had revenue of $139.30 million for the quarter, compared to analysts’ expectations of $138.83 million. During the same quarter in the previous year, the business posted $0.21 EPS. The company’s quarterly revenue was down 9.5% on a year-over-year basis. equities research analysts expect that Oclaro will post 0.44 earnings per share for the current year.
In other Oclaro news, EVP Lisa Paul sold 5,000 shares of the stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $10.10, for a total transaction of $50,500.00. Following the completion of the sale, the executive vice president now directly owns 216,886 shares of the company’s stock, valued at approximately $2,190,548.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP David Teichmann sold 24,962 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $6.41, for a total transaction of $160,006.42. Following the sale, the executive vice president now directly owns 349,305 shares of the company’s stock, valued at $2,239,045.05. The disclosure for this sale can be found here. Insiders sold a total of 119,436 shares of company stock valued at $1,088,446 over the last three months. 2.00% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. SeaCrest Wealth Management LLC purchased a new stake in Oclaro during the 4th quarter valued at approximately $119,000. Meadow Creek Investment Management LLC bought a new position in shares of Oclaro during the 4th quarter valued at approximately $147,000. Xact Kapitalforvaltning AB bought a new position in shares of Oclaro during the 4th quarter valued at approximately $156,000. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Oclaro by 74.2% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 27,556 shares of the semiconductor company’s stock valued at $238,000 after acquiring an additional 11,735 shares during the last quarter. Finally, Koch Industries Inc. bought a new position in shares of Oclaro during the 4th quarter valued at approximately $199,000. 68.49% of the stock is owned by institutional investors and hedge funds.
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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