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. “
Other analysts have also recently issued research reports about the company. Jefferies Group LLC boosted their target price on Oclaro from $11.25 to $13.25 and gave the stock a buy rating in a report on Thursday, January 19th. Needham & Company LLC reiterated a strong-buy rating and set a $14.00 target price on shares of Oclaro in a report on Thursday, February 23rd. Piper Jaffray Companies boosted their target price on Oclaro from $13.00 to $15.00 and gave the stock an overweight rating in a report on Wednesday, February 1st. B. Riley reiterated a buy rating and set a $15.50 target price on shares of Oclaro in a report on Sunday, January 29th. Finally, Stifel Nicolaus restated a buy rating and issued a $12.00 price target on shares of Oclaro in a report on Monday, January 23rd. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $12.42.
Oclaro (NASDAQ:OCLR) opened at 8.46 on Thursday. The company’s 50-day moving average is $9.20 and its 200-day moving average is $9.00. Oclaro has a 12 month low of $4.25 and a 12 month high of $11.30. The company has a market cap of $1.41 billion, a P/E ratio of 25.48 and a beta of 1.80.
Oclaro (NASDAQ:OCLR) last posted its quarterly earnings results on Tuesday, January 31st. The semiconductor company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.18 by $0.03. The company earned $153.90 million during the quarter, compared to analysts’ expectations of $150.53 million. Oclaro had a return on equity of 23.12% and a net margin of 8.83%. The firm’s revenue was up 63.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.03 EPS. On average, equities research analysts expect that Oclaro will post $0.76 EPS for the current fiscal year.
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In related news, COO James Douglas Haynes sold 20,000 shares of the company’s stock in a transaction on Thursday, February 16th. The stock was sold at an average price of $10.68, for a total transaction of $213,600.00. Following the completion of the transaction, the chief operating officer now directly owns 309,277 shares in the company, valued at approximately $3,303,078.36. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Thomas Gordon Beck Mason sold 62,563 shares of the company’s stock in a transaction on Friday, March 17th. The stock was sold at an average price of $9.24, for a total value of $578,082.12. Following the transaction, the insider now owns 182,426 shares of the company’s stock, valued at $1,685,616.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 87,126 shares of company stock worth $837,403. Corporate insiders own 2.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Jag Capital Management LLC bought a new position in shares of Oclaro during the third quarter worth approximately $105,000. Oberweis Asset Management Inc. bought a new position in shares of Oclaro during the fourth quarter worth approximately $119,000. FNY Managed Accounts LLC bought a new position in shares of Oclaro during the third quarter worth approximately $122,000. Creative Planning increased its position in shares of Oclaro by 1,415.3% in the third quarter. Creative Planning now owns 14,486 shares of the semiconductor company’s stock worth $124,000 after buying an additional 13,530 shares during the last quarter. Finally, Suntrust Banks Inc. bought a new position in shares of Oclaro during the third quarter worth approximately $129,000. Hedge funds and other institutional investors own 63.47% 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.
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