Stock analysts at Jefferies Group started coverage on shares of Oclaro Inc. (NASDAQ:OCLR) in a research report issued to clients and investors on Monday. The firm set a “buy” rating and a $11.25 price target on the stock. Jefferies Group’s target price would indicate a potential upside of 27.99% from the stock’s previous close.
OCLR has been the topic of several other reports. Stifel Nicolaus upped their price target on Oclaro from $7.50 to $10.00 and gave the company a “buy” rating in a research report on Tuesday, September 6th. Vetr downgraded Oclaro from a “strong-buy” rating to a “buy” rating and set a $8.25 price objective for the company. in a research note on Monday, August 22nd. Piper Jaffray Cos. restated an “overweight” rating and set a $9.00 price objective on shares of Oclaro in a research note on Wednesday, September 7th. Zacks Investment Research upgraded Oclaro from a “hold” rating to a “strong-buy” rating and set a $8.50 price objective for the company in a research note on Wednesday, August 17th. Finally, MKM Partners restated a “buy” rating on shares of Oclaro in a research note on Monday, June 6th. One analyst has rated the stock with a hold rating, ten have given a buy rating and three have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $8.23.
Oclaro (NASDAQ:OCLR) opened at 8.79 on Monday. Oclaro has a 1-year low of $2.37 and a 1-year high of $9.34. The stock’s 50 day moving average price is $8.24 and its 200 day moving average price is $5.96. The firm has a market cap of $1.30 billion, a P/E ratio of 112.69 and a beta of 1.82.
Oclaro (NASDAQ:OCLR) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.05. The business had revenue of $125.20 million for the quarter, compared to analyst estimates of $119.41 million. Oclaro had a return on equity of 6.24% and a net margin of 2.10%. The business’s revenue was up 52.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.06) EPS. Equities research analysts predict that Oclaro will post $0.39 EPS for the current year.
In related news, insider Adam Carter sold 19,506 shares of the firm’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $6.00, for a total transaction of $117,036.00. Following the completion of the transaction, the insider now owns 202,584 shares of the company’s stock, valued at $1,215,504. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Lisa Paul sold 9,363 shares of the firm’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $7.69, for a total value of $72,001.47. Following the transaction, the executive vice president now directly owns 218,264 shares of the company’s stock, valued at approximately $1,678,450.16. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bayesian Capital Management LP purchased a new position in shares of Oclaro during the first quarter valued at $107,000. Peconic Partners LLC boosted its position in shares of Oclaro by 100.0% in the first quarter. Peconic Partners LLC now owns 20,000 shares of the company’s stock valued at $108,000 after buying an additional 10,000 shares in the last quarter. Stifel Financial Corp purchased a new position in shares of Oclaro during the second quarter valued at $108,000. Compagnie Lombard Odier SCmA purchased a new position in shares of Oclaro during the second quarter valued at $122,000. Finally, BlackRock Group LTD purchased a new position in shares of Oclaro during the second quarter valued at $124,000. 62.49% of the stock is owned by institutional investors and hedge funds.
Oclaro, Inc is a provider of optical components, modules and subsystems for the optical transport, service provider, enterprise and data center markets. The Company supplies optical network technology to telecommunication and data communication equipment companies across the world. The Company designs, manufactures and markets optical components, modules and subsystems that generate, detect, combine and separate light signals in optical communications networks.
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