Raymond James Financial, Inc. began coverage on shares of Oclaro, Inc. (NASDAQ:OCLR) in a research note released on Thursday morning, MarketBeat.com reports. The firm issued a strong-buy rating and a $12.00 target price on the semiconductor company’s stock.

Other analysts also recently issued reports about the company. B. Riley reissued a buy rating and issued a $11.75 price objective on shares of Oclaro in a research note on Thursday, August 3rd. ValuEngine downgraded Oclaro from a strong-buy rating to a buy rating in a research note on Saturday, July 8th. Jefferies Group LLC reissued a buy rating and issued a $12.50 price objective (up from $12.00) on shares of Oclaro in a research note on Thursday, August 3rd. MKM Partners reissued a buy rating and issued a $12.00 price objective (up from $10.50) on shares of Oclaro in a research note on Wednesday, July 26th. Finally, Stifel Nicolaus reissued a buy rating and issued a $12.00 price objective (up from $10.00) on shares of Oclaro in a research note on Monday, July 10th. Two equities research analysts have rated the stock with a sell rating, twelve have given a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $12.95.

Oclaro (NASDAQ:OCLR) opened at 9.07 on Thursday. The company has a market capitalization of $1.53 billion, a P/E ratio of 11.78 and a beta of 1.61. Oclaro has a 1-year low of $6.91 and a 1-year high of $11.30. The firm has a 50-day moving average price of $8.69 and a 200-day moving average price of $9.10.

Oclaro (NASDAQ:OCLR) last issued its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.16 by $0.03. The firm had revenue of $149.38 million during the quarter, compared to the consensus estimate of $148.04 million. Oclaro had a return on equity of 27.63% and a net margin of 21.28%. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.11 earnings per share. On average, analysts forecast that Oclaro will post $0.74 EPS for the current fiscal year.

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In related news, EVP Lisa Paul sold 12,182 shares of the 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 completion of the sale, the executive vice president now directly owns 246,090 shares of the company’s stock, valued at $2,079,460.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David Teichmann sold 20,132 shares of the stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $8.37, for a total value of $168,504.84. Following the sale, the executive vice president now directly owns 422,126 shares of the company’s stock, valued at $3,533,194.62. The disclosure for this sale can be found here. Insiders have sold 85,183 shares of company stock valued at $747,174 over the last ninety days. 2.30% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased 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 valued at $157,166,000 after acquiring an additional 9,177,551 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Oclaro by 30.5% during the first quarter. Wellington Management Group LLP now owns 9,737,747 shares of the semiconductor company’s stock valued at $95,624,000 after acquiring an additional 2,278,171 shares during the last quarter. Vanguard Group Inc. increased 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 valued at $77,766,000 after acquiring an additional 1,265,269 shares during the last quarter. Teachers Advisors LLC increased its position in shares of Oclaro by 574.9% during the first quarter. Teachers Advisors LLC now owns 5,129,019 shares of the semiconductor company’s stock valued at $50,367,000 after acquiring an additional 4,369,074 shares during the last quarter. Finally, State Street Corp increased 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 valued at $35,877,000 after acquiring an additional 1,346,216 shares during the last quarter. 70.45% of the stock is 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.

Analyst Recommendations for Oclaro (NASDAQ:OCLR)

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