BidaskClub Downgrades Oclaro, Inc. (OCLR) to Sell

Oclaro, Inc. (NASDAQ:OCLR) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Tuesday, August 1st.

Other analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Oclaro from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a report on Wednesday, April 5th. Rosenblatt Securities started coverage on shares of Oclaro in a research report on Wednesday, May 17th. They set a “buy” rating and a $12.00 price objective for the company. B. Riley restated a “buy” rating and set a $12.00 price objective on shares of Oclaro in a research report on Monday, May 8th. Needham & Company LLC restated a “buy” rating and set a $14.00 price objective on shares of Oclaro in a research report on Friday, May 5th. Finally, MKM Partners restated a “buy” rating and set a $10.50 price objective (down from $12.00) on shares of Oclaro in a research report on Thursday, May 4th. Two research analysts have rated the stock with a sell rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $12.97.

Shares of Oclaro (NASDAQ:OCLR) opened at 8.32 on Tuesday. The stock has a market cap of $1.39 billion, a PE ratio of 10.81 and a beta of 1.55. Oclaro has a 12-month low of $6.92 and a 12-month high of $11.30. The stock’s 50 day moving average is $9.35 and its 200-day moving average is $9.29.

Oclaro (NASDAQ:OCLR) last announced its quarterly earnings results on Wednesday, August 2nd. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, topping the Zacks’ 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 firm had revenue of $149.38 million for the quarter, compared to the consensus estimate of $148.04 million. During the same period in the prior year, the firm posted $0.11 earnings per share. The firm’s quarterly revenue was up 19.3% compared to the same quarter last year. Equities analysts expect that Oclaro will post $0.74 EPS for the current year.

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In other news, EVP Lisa Paul sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $9.17, for a total value of $45,850.00. Following the completion of the transaction, the executive vice president now owns 183,460 shares of the company’s stock, valued at $1,682,328.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP David Teichmann sold 20,132 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $8.37, for a total transaction of $168,504.84. Following the completion of the transaction, the executive vice president now directly owns 422,126 shares of the company’s stock, valued at approximately $3,533,194.62. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,001 shares of company stock valued at $325,286. 2.30% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of OCLR. Advisory Services Network LLC raised its position in Oclaro by 452.5% in the second quarter. Advisory Services Network LLC now owns 53,092 shares of the semiconductor company’s stock valued at $496,000 after buying an additional 43,482 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Oclaro during the second quarter valued at approximately $315,000. Piedmont Investment Advisors LLC acquired a new position in Oclaro during the second quarter valued at approximately $257,000. Ameritas Investment Partners Inc. raised its position in Oclaro by 53.3% in the second 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 during the last quarter. Finally, Delphi Management Inc. MA raised its position in Oclaro by 10.3% in the second quarter. Delphi Management Inc. MA now owns 236,920 shares of the semiconductor company’s stock valued at $2,213,000 after buying an additional 22,084 shares during the last quarter. 74.45% of the stock is owned by institutional investors and hedge funds.

About Oclaro

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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