Oclaro, Inc. (NASDAQ:OCLR)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $6.69, but opened at $6.86. Oclaro shares last traded at $7.15, with a volume of 10215500 shares changing hands.

Several equities analysts recently commented on OCLR shares. MKM Partners reiterated a “buy” rating and issued a $12.00 price objective (up previously from $10.50) on shares of Oclaro in a research note on Wednesday, July 26th. BidaskClub downgraded Oclaro from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. B. Riley reiterated a “buy” rating and issued a $11.75 price objective on shares of Oclaro in a research note on Thursday, August 3rd. Piper Jaffray Companies reiterated a “buy” rating and issued a $12.00 price objective on shares of Oclaro in a research note on Thursday, August 3rd. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $12.50 price objective (up previously from $12.00) on shares of Oclaro in a research note on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Oclaro currently has a consensus rating of “Buy” and a consensus price target of $12.67.

The company has a market cap of $1,157.84, a PE ratio of 8.79, a PEG ratio of 1.00 and a beta of 1.41.

Oclaro (NASDAQ:OCLR) last posted its earnings results on Wednesday, November 1st. The semiconductor company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.02. The firm had revenue of $155.60 million for the quarter, compared to the consensus estimate of $154.51 million. Oclaro had a return on equity of 28.11% and a net margin of 24.31%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.14 earnings per share. research analysts expect that Oclaro, Inc. will post 0.51 earnings per share for the current year.

In related news, EVP Lisa Paul sold 12,182 shares of the stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $8.45, for a total value of $102,937.90. Following the sale, 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 Securities & Exchange Commission, which is available at this link. Also, CAO Michael H. Fernicola sold 7,016 shares of the stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $6.21, for a total value of $43,569.36. Following the completion of the sale, the chief accounting officer now owns 81,378 shares in the company, valued at approximately $505,357.38. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. Dana Investment Advisors Inc. raised its position in shares of Oclaro by 9.7% in the third quarter. Dana Investment Advisors Inc. now owns 271,389 shares of the semiconductor company’s stock worth $2,342,000 after buying an additional 23,926 shares in the last quarter. Piedmont Investment Advisors LLC raised its position in shares of Oclaro by 33.7% in the third quarter. Piedmont Investment Advisors LLC now owns 36,740 shares of the semiconductor company’s stock worth $317,000 after buying an additional 9,251 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Oclaro by 74.2% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 27,556 shares of the semiconductor company’s stock worth $238,000 after buying an additional 11,735 shares in the last quarter. Cubist Systematic Strategies LLC raised its position in shares of Oclaro by 799.0% in the third quarter. Cubist Systematic Strategies LLC now owns 202,448 shares of the semiconductor company’s stock worth $1,747,000 after buying an additional 179,928 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Oclaro in the third quarter worth $1,889,000. Institutional investors own 70.29% of the company’s stock.

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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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