Oclaro Inc. (OCLR) Rating Reiterated by Piper Jaffray Cos.
Oclaro Inc. (NASDAQ:OCLR)‘s stock had its “overweight” rating reiterated by equities research analysts at Piper Jaffray Cos. in a research note issued to investors on Friday. They currently have a $10.50 price target on the stock, up from their prior price target of $9.00. Piper Jaffray Cos.’s price target would suggest a potential upside of 17.98% from the stock’s current price.
A number of other brokerages have also recently issued reports on OCLR. Vetr cut shares of Oclaro from a “strong-buy” rating to a “buy” rating and set a $10.31 price objective for the company. in a research note on Thursday, October 6th. B. Riley restated a “buy” rating and issued a $11.00 price objective on shares of Oclaro in a research note on Thursday, October 6th. Zacks Investment Research cut shares of Oclaro from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 5th. Jefferies Group began coverage on shares of Oclaro in a research note on Monday, October 3rd. They issued a “buy” rating and a $11.25 price objective for the company. Finally, Stifel Nicolaus increased their price objective on shares of Oclaro from $7.50 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, September 6th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $8.78.
Shares of Oclaro (NASDAQ:OCLR) opened at 8.90 on Friday. The firm’s 50 day moving average is $8.45 and its 200-day moving average is $6.07. The company has a market capitalization of $1.32 billion, a P/E ratio of 114.10 and a beta of 1.82. Oclaro has a 52-week low of $2.37 and a 52-week high of $9.34.
Oclaro (NASDAQ:OCLR) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. Oclaro had a net margin of 2.10% and a return on equity of 6.24%. The company earned $125.20 million during the quarter, compared to analysts’ expectations of $119.41 million. During the same quarter in the prior year, the company posted ($0.06) EPS. The business’s revenue was up 52.3% on a year-over-year basis. Equities research analysts anticipate that Oclaro will post $0.39 earnings per share for the current fiscal year.
In other Oclaro news, insider Adam Carter sold 19,506 shares of the company’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $6.00, for a total transaction of $117,036.00. Following the transaction, the insider now directly owns 202,584 shares in the company, valued at approximately $1,215,504. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Lisa Paul sold 9,363 shares of the company’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $7.69, for a total transaction of $72,001.47. Following the transaction, the executive vice president now owns 218,264 shares in the company, 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 hedge funds and other institutional investors have recently added to or reduced their stakes in OCLR. Integral Derivatives LLC increased its position in Oclaro by 1.6% in the second quarter. Integral Derivatives LLC now owns 27,318 shares of the company’s stock worth $133,000 after buying an additional 418 shares during the last quarter. B. Riley Financial Inc. increased its stake in shares of Oclaro by 2.1% in the second quarter. B. Riley Financial Inc. now owns 43,803 shares of the company’s stock worth $214,000 after buying an additional 900 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Oclaro by 2.0% in the second quarter. AQR Capital Management LLC now owns 65,838 shares of the company’s stock worth $321,000 after buying an additional 1,285 shares in the last quarter. Menta Capital LLC increased its stake in shares of Oclaro by 1.8% in the second quarter. Menta Capital LLC now owns 86,223 shares of the company’s stock worth $421,000 after buying an additional 1,500 shares in the last quarter. Finally, BlackRock Advisors LLC increased its stake in shares of Oclaro by 4.9% in the second quarter. BlackRock Advisors LLC now owns 49,333 shares of the company’s stock worth $241,000 after buying an additional 2,301 shares in the last quarter. Institutional investors own 62.49% of the company’s stock.
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.
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