Stock analysts at Raymond James Financial, Inc. assumed coverage on shares of Oclaro, Inc. (NASDAQ:OCLR) in a research note issued to investors on Thursday. The brokerage set a “strong-buy” rating and a $12.00 price target on the semiconductor company’s stock. Raymond James Financial, Inc.’s price objective points to a potential upside of 32.30% from the company’s current price.

Several other brokerages also recently commented on OCLR. ValuEngine raised shares of Oclaro from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 3rd. Piper Jaffray Companies reissued a “buy” rating and set a $12.00 price objective on shares of Oclaro in a research report on Thursday, August 3rd. B. Riley reissued a “buy” rating and set a $11.75 price objective on shares of Oclaro in a research report on Tuesday, August 8th. Stifel Nicolaus reissued a “buy” rating and set a $12.00 price objective (up from $10.00) on shares of Oclaro in a research report on Monday, July 10th. Finally, Rosenblatt Securities assumed coverage on shares of Oclaro in a research report on Wednesday, May 17th. They set a “buy” rating and a $12.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. Oclaro has a consensus rating of “Buy” and an average price target of $12.90.

Oclaro (NASDAQ OCLR) opened at 9.07 on Thursday. The firm has a market capitalization of $1.53 billion, a PE ratio of 11.78 and a beta of 1.61. Oclaro has a 12 month low of $6.91 and a 12 month high of $11.30. The firm has a 50-day moving average of $8.69 and a 200 day moving average of $9.10.

Oclaro (NASDAQ:OCLR) last issued its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.16 by $0.03. Oclaro had a net margin of 21.28% and a return on equity of 27.63%. The company had revenue of $149.38 million for the quarter, compared to the consensus estimate of $148.04 million. During the same period in the previous year, the firm earned $0.11 earnings per share. The firm’s revenue for the quarter was up 19.3% on a year-over-year basis. Equities research analysts forecast that Oclaro will post $0.74 earnings per share for the current year.

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In other news, EVP Lisa Paul sold 12,182 shares of the business’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $8.45, for a total transaction of $102,937.90. Following the sale, the executive vice president now owns 246,090 shares in the company, valued at approximately $2,079,460.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Michael H. Fernicola sold 12,869 shares of the business’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $8.62, for a total transaction of $110,930.78. Following the sale, the insider now owns 106,225 shares in the company, valued at approximately $915,659.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 85,183 shares of company stock worth $747,174. Company insiders own 2.30% of the company’s stock.

Several hedge funds have recently made changes to their positions in OCLR. Shelton Capital Management bought a new stake in shares of Oclaro during the 2nd quarter valued at $117,000. National Asset Management Inc. boosted its holdings in shares of Oclaro by 15.2% during the 1st quarter. National Asset Management Inc. now owns 12,144 shares of the semiconductor company’s stock valued at $121,000 after buying an additional 1,601 shares in the last quarter. LS Investment Advisors LLC bought a new stake in shares of Oclaro during the 2nd quarter valued at $122,000. Ameritas Investment Partners Inc. boosted its holdings in shares of Oclaro by 53.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 14,542 shares of the semiconductor company’s stock valued at $136,000 after buying an additional 5,057 shares in the last quarter. Finally, GLG Partners LP bought a new stake in shares of Oclaro during the 2nd quarter valued at $140,000. Hedge funds and other institutional investors own 70.47% of the company’s stock.

Oclaro Company Profile

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.

Analyst Recommendations for Oclaro (NASDAQ:OCLR)

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