Oclaro Inc. (NASDAQ:OCLR) was downgraded by research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a report released on Thursday. They currently have a $10.31 price objective on the stock. Vetr‘s target price would indicate a potential upside of 14.68% from the stock’s current price.
A number of other equities analysts have also issued reports on the stock. B. Riley reiterated a “buy” rating and set a $11.00 target price on shares of Oclaro in a research report on Thursday. Needham & Company LLC reiterated a “strong-buy” rating and set a $8.00 target price (up from $7.50) on shares of Oclaro in a research report on Wednesday, August 3rd. Zacks Investment Research lowered shares of Oclaro from a “buy” rating to a “hold” rating in a research report on Wednesday, July 6th. MKM Partners upped their target price on shares of Oclaro from $8.00 to $10.00 and gave the stock a “top pick” rating in a research report on Thursday, September 1st. Finally, Stifel Nicolaus upped their target price on shares of Oclaro from $7.50 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, September 6th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. Oclaro presently has an average rating of “Buy” and an average target price of $8.78.
Oclaro (NASDAQ:OCLR) opened at 8.99 on Thursday. The company has a 50-day moving average of $8.40 and a 200-day moving average of $6.03. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 115.26 and a beta of 1.82. Oclaro has a 1-year low of $2.37 and a 1-year high of $9.34.
Oclaro (NASDAQ:OCLR) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.11 EPS for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.05. The firm had revenue of $125.20 million for the quarter, compared to analyst estimates of $119.41 million. Oclaro had a net margin of 2.10% and a return on equity of 6.24%. The company’s revenue for the quarter was up 52.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.06) earnings per share. Analysts predict that Oclaro will post $0.39 earnings per share for the current year.
In other Oclaro news, EVP Lisa Paul sold 9,363 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 218,264 shares of the company’s stock, valued at $1,678,450.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Adam Carter sold 19,506 shares of the company’s stock in a transaction that occurred on Tuesday, July 26th. The shares were 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 disclosure for this sale can be found here. 2.30% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of the stock. Bayesian Capital Management LP purchased a new stake in shares of Oclaro during the first quarter valued at approximately $107,000. Peconic Partners LLC increased its stake 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 during the last quarter. Stifel Financial Corp purchased a new stake in shares of Oclaro during the second quarter valued at approximately $108,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of Oclaro during the second quarter valued at approximately $122,000. Finally, BlackRock Group LTD purchased a new stake in shares of Oclaro during the second quarter valued at approximately $124,000. 62.49% of the stock is owned by hedge funds and other institutional investors.
Oclaro Company Profile
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.
To view Vetr’s full report, visit Vetr’s official website.
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