Oclaro (OCLR) Receiving Somewhat Positive News Coverage, Report Finds
Headlines about Oclaro (NASDAQ:OCLR) have been trending somewhat positive on Saturday, according to Accern. The research firm identifies positive and negative news coverage by reviewing more than twenty million blog and news sources in real-time. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Oclaro earned a news sentiment score of 0.11 on Accern’s scale. Accern also gave news articles about the semiconductor company an impact score of 45.9495158030172 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
Here are some of the media stories that may have effected Accern’s rankings:
- Teva, General Electric Scoot into Thursday’s 52-Week Low Club (finance.yahoo.com)
- Oclaro, Inc. (OCLR) Earns Buy Rating from Cowen and Company (americanbankingnews.com)
- Oclaro, Inc. (OCLR) Downgraded by ValuEngine (americanbankingnews.com)
- Oclaro, Inc. Forecasted to Earn Q1 2019 Earnings of $0.23 Per Share (OCLR) (americanbankingnews.com)
- How Oclaro Inc. Shares Fell 24% Today (fool.com)
A number of brokerages have weighed in on OCLR. Cowen and Company restated an “outperform” rating and issued a $14.00 target price (up previously from $13.00) on shares of Oclaro in a research report on Thursday, August 3rd. Northland Securities restated a “buy” rating and issued a $12.75 target price on shares of Oclaro in a research report on Friday, September 15th. Zacks Investment Research lowered shares of Oclaro from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Needham & Company LLC lowered shares of Oclaro from a “strong-buy” rating to a “buy” rating and cut their target price for the company from $14.00 to $9.00 in a research report on Thursday. Finally, ValuEngine lowered shares of Oclaro from a “buy” rating to a “hold” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $12.67.
Shares of Oclaro (NASDAQ:OCLR) traded down $1.83 during midday trading on Friday, reaching $6.19. 10,660,447 shares of the company were exchanged, compared to its average volume of 5,390,000. Oclaro has a fifty-two week low of $5.86 and a fifty-two week high of $11.30. The company has a market capitalization of $1.04 billion, a P/E ratio of 7.64, a PEG ratio of 0.69 and a beta of 1.41.
Oclaro (NASDAQ:OCLR) last announced its earnings results on Wednesday, November 1st. The semiconductor company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $154.51 million. During the same quarter last year, the firm earned $0.14 earnings per share. Oclaro’s quarterly revenue was up 14.8% on a year-over-year basis. equities research analysts anticipate that Oclaro will post 0.65 EPS for the current year.
In related news, EVP David Teichmann sold 20,132 shares of Oclaro stock in a transaction on Friday, August 11th. The shares were sold at an average price of $8.37, for a total transaction of $168,504.84. Following the completion of the transaction, the executive vice president now owns 422,126 shares of the company’s stock, valued at $3,533,194.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael H. Fernicola sold 12,869 shares of Oclaro stock in a transaction on Monday, August 14th. The stock was 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 of the company’s stock, valued at approximately $915,659.50. The disclosure for this sale can be found here. Insiders have sold 85,183 shares of company stock valued at $747,174 in the last three months. 2.00% of the stock is owned by insiders.
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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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