According to Zacks, “Oclaro, with headquarters in San Jose, California, is a tier 1 provider of high performance optical components, modules and subsystems to the telecommunications market, and is one of the largest providers to metro and long haul network applications. Oclaro, the result of the combination of Bookham, Inc. and Avanex Corporation, leverages proprietary core technologies and vertically integrated product development to provide its customers with cost-effective and innovative optical devices, modules and subsystems. Its photonic technologies also serve selected potential high growth markets, including industrial, defense, life sciences, semiconductor, and scientific, with diversification providing both significant potential revenue streams and strategic technological advantage. Oclaro is a global company, with leading chip fabrication facilities in the UK, Switzerland and Italy, and manufacturing sites in the US, Thailand and China. “
Several other equities research analysts have also issued reports on OCLR. B. Riley reaffirmed a buy rating and issued a $11.00 price objective on shares of Oclaro in a research note on Thursday, October 6th. Needham & Company LLC reaffirmed a strong-buy rating and issued a $8.00 price objective (up from $7.50) on shares of Oclaro in a research note on Wednesday, August 3rd. MKM Partners raised their price objective on Oclaro from $8.00 to $10.00 and gave the company a top pick rating in a research note on Thursday, September 1st. Piper Jaffray Cos. reaffirmed an overweight rating and issued a $10.50 price objective (up from $9.00) on shares of Oclaro in a research note on Friday, October 7th. Finally, Stifel Nicolaus raised their price objective on Oclaro from $7.50 to $10.00 and gave the company a buy rating in a research note on Tuesday, September 6th. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $8.86.
Oclaro (NASDAQ:OCLR) traded down 1.700% during midday trading on Wednesday, hitting $7.805. The stock had a trading volume of 534,610 shares. The company’s 50 day moving average price is $8.54 and its 200-day moving average price is $6.14. The stock has a market cap of $1.15 billion, a PE ratio of 100.064 and a beta of 1.82. Oclaro has a 52-week low of $2.40 and a 52-week high of $9.34.
Oclaro (NASDAQ:OCLR) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.05. The business earned $125.20 million during 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 company’s revenue for the quarter was up 52.3% on a year-over-year basis. During the same period last year, the company earned ($0.06) EPS. Analysts forecast that Oclaro will post $0.39 EPS for the current fiscal year.
In other Oclaro news, insider Adam Carter sold 19,506 shares of Oclaro stock in a transaction on 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 sale, the insider now directly owns 202,584 shares of the company’s stock, valued at approximately $1,215,504. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Lisa Paul sold 9,363 shares of Oclaro stock in a transaction on Monday, August 29th. The shares were sold at an average price of $7.69, for a total value of $72,001.47. Following the sale, the executive vice president now directly owns 218,264 shares of the company’s stock, valued at $1,678,450.16. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.
A number of large investors have recently modified their holdings of OCLR. Kopp Investment Advisors LLC raised its stake in shares of Oclaro by 4.4% in the second quarter. Kopp Investment Advisors LLC now owns 11,097,537 shares of the company’s stock worth $54,156,000 after buying an additional 467,170 shares during the period. Hood River Capital Management LLC raised its stake in shares of Oclaro by 8.1% in the second quarter. Hood River Capital Management LLC now owns 4,434,828 shares of the company’s stock worth $21,642,000 after buying an additional 330,850 shares during the period. Vanguard Group Inc. raised its stake in shares of Oclaro by 13.1% in the second quarter. Vanguard Group Inc. now owns 3,839,748 shares of the company’s stock worth $18,738,000 after buying an additional 443,754 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Oclaro by 1,101.7% in the second quarter. Ameriprise Financial Inc. now owns 3,302,966 shares of the company’s stock worth $16,119,000 after buying an additional 3,028,107 shares during the period. Finally, BlackRock Institutional Trust Company N.A. raised its stake in shares of Oclaro by 2.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,572,055 shares of the company’s stock worth $12,552,000 after buying an additional 51,877 shares during the period. 62.60% 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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