Cowen and Company Reiterates “Buy” Rating for Oclaro, Inc. (OCLR)
Oclaro, Inc. (NASDAQ:OCLR)‘s stock had its “buy” rating reissued by analysts at Cowen and Company in a research report issued to clients and investors on Friday.
Several other equities analysts have also recently weighed in on OCLR. ValuEngine cut Oclaro from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 8th. Stifel Nicolaus reissued a “buy” rating and set a $12.00 price target (up from $10.00) on shares of Oclaro in a report on Monday, July 10th. Cantor Fitzgerald reissued an “overweight” rating and set a $21.00 price target (down from $35.00) on shares of Oclaro in a report on Thursday, July 13th. MKM Partners reissued a “buy” rating and set a $12.00 price target (up from $10.50) on shares of Oclaro in a report on Wednesday, July 26th. Finally, BidaskClub cut Oclaro from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $12.67.
Oclaro (NASDAQ OCLR) traded up $0.23 during mid-day trading on Friday, reaching $6.19. The company had a trading volume of 10,660,447 shares, compared to its average volume of 5,905,021. The company has a market cap of $1,044.01, a PE ratio of 7.94, a PEG ratio of 0.72 and a beta of 1.41. Oclaro has a fifty-two week low of $5.86 and a fifty-two week high of $11.30.
Oclaro (NASDAQ:OCLR) last released its quarterly earnings data on Wednesday, November 1st. The semiconductor company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.02. The business had revenue of $155.60 million for the quarter, compared to analysts’ expectations of $154.51 million. Oclaro had a return on equity of 28.11% and a net margin of 24.31%. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.14 EPS. research analysts forecast that Oclaro will post 0.65 EPS for the current fiscal year.
In other news, EVP Lisa Paul sold 12,182 shares of the firm’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $8.45, for a total transaction of $102,937.90. Following the completion of the transaction, the executive vice president now owns 246,090 shares in the company, valued at $2,079,460.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP David Teichmann sold 20,132 shares of the firm’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $8.37, for a total value of $168,504.84. Following the transaction, the executive vice president now owns 422,126 shares of the company’s stock, valued at approximately $3,533,194.62. The disclosure for this sale can be found here. Insiders sold a total of 85,183 shares of company stock valued at $747,174 in the last quarter. 2.00% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of OCLR. UBS Asset Management Americas Inc. grew its position in shares of Oclaro by 20.9% during the first quarter. UBS Asset Management Americas Inc. now owns 57,069 shares of the semiconductor company’s stock valued at $560,000 after purchasing an additional 9,870 shares in the last quarter. Karp Capital Management Corp purchased a new position in shares of Oclaro during the first quarter valued at about $203,000. American International Group Inc. grew its position in shares of Oclaro by 19.4% during the first quarter. American International Group Inc. now owns 67,785 shares of the semiconductor company’s stock valued at $666,000 after purchasing an additional 11,026 shares in the last quarter. California Public Employees Retirement System grew its position in shares of Oclaro by 1.7% during the first quarter. California Public Employees Retirement System now owns 250,224 shares of the semiconductor company’s stock valued at $2,457,000 after purchasing an additional 4,300 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Oclaro by 20.2% during the first quarter. Vanguard Group Inc. now owns 7,060,853 shares of the semiconductor company’s stock valued at $69,337,000 after purchasing an additional 1,186,225 shares in the last quarter. Hedge funds and other institutional investors own 70.69% 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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