Oclaro, Inc. (NASDAQ:OCLR) Receives Buy Rating from MKM Partners
MKM Partners reaffirmed their buy rating on shares of Oclaro, Inc. (NASDAQ:OCLR) in a report released on Wednesday. They currently have a $12.00 price objective on the semiconductor company’s stock, up from their previous price objective of $10.50.
Several other research analysts also recently commented on the company. Zacks Investment Research upgraded Oclaro from a hold rating to a buy rating and set a $11.00 price objective on the stock in a report on Wednesday, April 5th. B. Riley reiterated a buy rating and issued a $12.00 price objective on shares of Oclaro in a report on Wednesday, May 3rd. Stifel Nicolaus decreased their price objective on Oclaro from $11.00 to $10.00 and set a buy rating on the stock in a report on Wednesday, May 3rd. Piper Jaffray Companies decreased their price objective on Oclaro from $15.00 to $12.00 and set an overweight rating on the stock in a report on Wednesday, May 3rd. Finally, Cowen and Company decreased their price objective on Oclaro from $17.00 to $13.00 and set an outperform rating on the stock in a report on Wednesday, May 3rd. One research analyst has rated the stock with a sell rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $12.87.
Shares of Oclaro (NASDAQ OCLR) opened at 9.86 on Wednesday. The company’s 50-day moving average price is $9.68 and its 200-day moving average price is $9.32. Oclaro has a 12 month low of $5.46 and a 12 month high of $11.30. The company has a market cap of $1.65 billion, a price-to-earnings ratio of 17.93 and a beta of 1.54.
Oclaro (NASDAQ:OCLR) last released its quarterly earnings results on Tuesday, May 2nd. The semiconductor company reported $0.22 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.04. Oclaro had a return on equity of 28.78% and a net margin of 14.51%. The business had revenue of $162.18 million for the quarter, compared to the consensus estimate of $160.06 million. During the same quarter last year, the business posted $0.03 earnings per share. Analysts anticipate that Oclaro will post $0.76 EPS for the current year.
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In related news, EVP David Teichmann sold 41,612 shares of the firm’s stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $8.88, for a total value of $369,514.56. Following the sale, the executive vice president now directly owns 333,738 shares of the company’s stock, valued at $2,963,593.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lisa Paul sold 5,000 shares of the firm’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $9.17, for a total value of $45,850.00. Following the completion of the sale, the executive vice president now directly owns 183,460 shares in the company, valued at $1,682,328.20. The disclosure for this sale can be found here. Insiders sold 124,031 shares of company stock worth $1,114,852 over the last three months. 2.30% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of OCLR. Essex Investment Management Co. LLC boosted its stake in Oclaro by 12.0% in the second quarter. Essex Investment Management Co. LLC now owns 350,236 shares of the semiconductor company’s stock valued at $3,271,000 after buying an additional 37,460 shares during the last quarter. Texas Permanent School Fund acquired a new stake in Oclaro during the second quarter valued at about $867,000. Emerald Mutual Fund Advisers Trust boosted its stake in Oclaro by 56.3% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 1,492,134 shares of the semiconductor company’s stock valued at $13,937,000 after buying an additional 537,670 shares during the last quarter. Emerald Advisers Inc. PA boosted its stake in Oclaro by 39.5% in the second quarter. Emerald Advisers Inc. PA now owns 1,858,334 shares of the semiconductor company’s stock valued at $17,357,000 after buying an additional 526,448 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D acquired a new stake in Oclaro during the second quarter valued at about $9,340,000. 70.61% of the stock is currently owned by institutional investors.
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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