Oclaro, Inc. (NASDAQ:OCLR) Stock Rating Reaffirmed by Stifel Nicolaus

Stifel Nicolaus reissued their buy rating on shares of Oclaro, Inc. (NASDAQ:OCLR) in a report released on Monday, July 10th. The firm currently has a $12.00 price objective on the semiconductor company’s stock, up from their previous price objective of $10.00.

A number of other equities research analysts also recently commented on OCLR. B. Riley reaffirmed a buy rating and issued a $12.00 target price on shares of Oclaro in a research report on Wednesday, May 3rd. Jefferies Group LLC cut their target price on shares of Oclaro from $14.00 to $12.00 and set a buy rating for the company in a research report on Wednesday, May 3rd. Needham & Company LLC reaffirmed a strong-buy rating and issued a $14.00 target price on shares of Oclaro in a research report on Monday, June 12th. Northland Securities reaffirmed a buy rating and issued a $12.00 target price on shares of Oclaro in a research report on Friday, June 23rd. Finally, MKM Partners reaffirmed a buy rating and issued a $12.00 target price on shares of Oclaro in a research report on Friday, April 21st. Two equities research analysts have rated the stock with a sell rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Oclaro presently has a consensus rating of Buy and an average target price of $12.97.

Oclaro (NASDAQ OCLR) traded up 5.25% during trading on Monday, reaching $9.23. The company had a trading volume of 10,715,386 shares. Oclaro has a 12-month low of $6.11 and a 12-month high of $11.30. The firm has a market capitalization of $1.54 billion, a PE ratio of 11.99 and a beta of 1.55. The firm’s 50 day moving average price is $9.66 and its 200 day moving average price is $9.35.

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

TRADEMARK VIOLATION NOTICE: “Oclaro, Inc. (NASDAQ:OCLR) Stock Rating Reaffirmed by Stifel Nicolaus” was published by Markets Daily and is owned by of Markets Daily. If you are viewing this story on another website, it was illegally copied and republished in violation of US & international copyright and trademark laws. The original version of this story can be read at https://www.themarketsdaily.com/2017/08/08/oclaro-inc-nasdaqoclr-earns-buy-rating-from-stifel-nicolaus-updated-updated-updated.html.

In related news, EVP David Teichmann sold 41,612 shares of Oclaro stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $8.88, for a total transaction of $369,514.56. Following the transaction, the executive vice president now owns 333,738 shares in the company, valued at approximately $2,963,593.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Lisa Paul sold 5,000 shares of the business’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $9.17, for a total transaction of $45,850.00. Following the completion of the sale, the executive vice president now owns 183,460 shares in the company, valued at approximately $1,682,328.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 124,031 shares of company stock worth $1,114,852. 2.30% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the company. Heartland Advisors Inc. bought a new stake in shares of Oclaro during the second quarter valued at approximately $934,000. Principal Financial Group Inc. boosted its stake in shares of Oclaro by 6,415.5% in the second quarter. Principal Financial Group Inc. now owns 989,710 shares of the semiconductor company’s stock valued at $9,244,000 after buying an additional 974,520 shares during the last quarter. Greenwood Capital Associates LLC boosted its stake in shares of Oclaro by 3.4% in the second quarter. Greenwood Capital Associates LLC now owns 45,494 shares of the semiconductor company’s stock valued at $425,000 after buying an additional 1,483 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Oclaro by 1.2% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 44,633 shares of the semiconductor company’s stock valued at $417,000 after buying an additional 550 shares during the last quarter. Finally, Intrust Bank NA boosted its stake in shares of Oclaro by 85.3% in the second quarter. Intrust Bank NA now owns 42,546 shares of the semiconductor company’s stock valued at $398,000 after buying an additional 19,581 shares during the last quarter. Institutional investors and hedge funds own 72.79% 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)

Receive News & Ratings for Oclaro Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oclaro Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply