Oclaro, Inc. (NASDAQ:OCLR)‘s stock had its “buy” rating reaffirmed by equities researchers at Jefferies Group LLC in a report released on Wednesday. They presently have a $12.50 target price on the semiconductor company’s stock. Jefferies Group LLC’s target price would suggest a potential upside of 101.94% from the stock’s current price. Jefferies Group also issued estimates for Oclaro’s Q1 2019 earnings at $0.23 EPS.

Other equities research analysts have also issued research reports about the stock. ValuEngine lowered shares of Oclaro from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 8th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $12.00 price objective (up previously from $10.00) on shares of Oclaro in a research note on Monday, July 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $21.00 price objective (down previously from $35.00) on shares of Oclaro in a research note on Thursday, July 13th. MKM Partners reissued a “buy” rating and set a $12.00 target price (up previously from $10.50) on shares of Oclaro in a research report on Wednesday, July 26th. Finally, BidaskClub lowered shares of Oclaro from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $12.67.

Oclaro (NASDAQ OCLR) traded down $1.83 during trading on Wednesday, hitting $6.19. 10,660,447 shares of the stock traded hands, compared to its average volume of 5,905,021. The firm has a market cap of $1.01 billion, a PE ratio of 7.64 and a beta of 1.41.

Oclaro (NASDAQ:OCLR) last posted its quarterly earnings results on Wednesday, November 1st. The semiconductor company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.18 by $0.02. Oclaro had a net margin of 24.31% and a return on equity of 28.11%. The business had revenue of $155.60 million for the quarter, compared to analysts’ expectations of $154.51 million. During the same period in the previous year, the company posted $0.14 EPS. Oclaro’s revenue was up 14.8% on a year-over-year basis. analysts forecast that Oclaro will post 0.65 EPS for the current year.

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In other news, insider Michael H. Fernicola sold 12,869 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $8.62, for a total transaction of $110,930.78. Following the transaction, the insider now directly owns 106,225 shares in the company, valued at $915,659.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lisa Paul sold 12,182 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $8.45, for a total transaction of $102,937.90. Following the transaction, the executive vice president now owns 246,090 shares in the company, valued at $2,079,460.50. The disclosure for this sale can be found here. In the last three months, insiders sold 85,183 shares of company stock worth $747,174. 2.00% of the stock is currently owned by insiders.

Several hedge funds have recently made changes to their positions in OCLR. BlackRock Inc. lifted its position in shares of Oclaro by 120.0% during the second quarter. BlackRock Inc. now owns 16,827,106 shares of the semiconductor company’s stock worth $157,166,000 after purchasing an additional 9,177,551 shares in the last quarter. Neumeier Poma Investment Counsel LLC acquired a new position in shares of Oclaro during the second quarter worth approximately $14,066,000. ING Groep NV acquired a new position in shares of Oclaro during the second quarter worth approximately $13,957,000. State Street Corp lifted its position in shares of Oclaro by 54.0% during the second quarter. State Street Corp now owns 3,841,177 shares of the semiconductor company’s stock worth $35,877,000 after purchasing an additional 1,346,216 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Oclaro by 17.9% during the second quarter. Vanguard Group Inc. now owns 8,326,122 shares of the semiconductor company’s stock worth $77,766,000 after purchasing an additional 1,265,269 shares in the last quarter. 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.

Analyst Recommendations for Oclaro (NASDAQ:OCLR)

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