BidaskClub Downgrades Oclaro (OCLR) to Sell
BidaskClub cut shares of Oclaro (NASDAQ:OCLR) from a hold rating to a sell rating in a report issued on Thursday morning.
Several other research firms have also issued reports on OCLR. ValuEngine raised Oclaro from a hold rating to a buy rating in a research note on Saturday, May 26th. DA Davidson reissued a buy rating and set a $9.00 target price on shares of Oclaro in a research note on Monday, June 11th. Zacks Investment Research raised Oclaro from a sell rating to a hold rating in a research note on Tuesday, May 15th. Finally, B. Riley decreased their target price on Oclaro from $10.00 to $9.50 and set a neutral rating on the stock in a research note on Wednesday, May 9th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company’s stock. Oclaro currently has a consensus rating of Hold and a consensus price target of $9.44.
Shares of Oclaro stock opened at $9.39 on Thursday. Oclaro has a 52 week low of $5.61 and a 52 week high of $10.20. The firm has a market capitalization of $1.60 billion, a PE ratio of 21.34 and a beta of 0.81.
In related news, EVP Lisa Paul sold 5,000 shares of the stock in a transaction dated Thursday, June 14th. The stock was sold at an average price of $9.08, for a total transaction of $45,400.00. Following the transaction, the executive vice president now owns 204,397 shares of the company’s stock, valued at approximately $1,855,924.76. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Natixis purchased a new stake in Oclaro during the 1st quarter worth about $100,000. Suntrust Banks Inc. purchased a new stake in Oclaro during the 1st quarter worth about $160,000. Cerebellum GP LLC increased its holdings in Oclaro by 80.9% during the 2nd quarter. Cerebellum GP LLC now owns 19,717 shares of the semiconductor company’s stock worth $176,000 after purchasing an additional 8,816 shares during the period. New Jersey Better Educational Savings Trust purchased a new stake in Oclaro during the 2nd quarter worth about $179,000. Finally, Silvant Capital Management LLC purchased a new stake in Oclaro during the 1st quarter worth about $247,000. Institutional investors own 69.47% of the company’s stock.
Oclaro, Inc engages in the design, manufacturing and marketing of optical components and modules for the long-haul, metro and data center markets. It also provides solutions for optical networks and high-speed interconnects for streaming video, cloud computing, application virtualization and other bandwidth-intensive and high-speed applications.
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