Oclaro, Inc. (OCLR) Earns “Buy” Rating from DA Davidson

Oclaro, Inc. (NASDAQ:OCLR)‘s stock had its “buy” rating reiterated by stock analysts at DA Davidson in a research note issued to investors on Thursday. They presently have a $11.00 price objective on the semiconductor company’s stock. DA Davidson’s price target would indicate a potential upside of 33.01% from the company’s current price.

A number of other brokerages also recently commented on OCLR. MKM Partners reaffirmed a “buy” rating and set a $12.00 price objective (up from $10.50) on shares of Oclaro in a research report on Wednesday, July 26th. BidaskClub downgraded shares of Oclaro from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $21.00 price objective (down from $35.00) on shares of Oclaro in a research report on Thursday, July 13th. Stifel Nicolaus reaffirmed 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, ValuEngine downgraded shares of Oclaro from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $12.67.

Oclaro (NASDAQ:OCLR) last announced its quarterly earnings data on Wednesday, November 1st. The semiconductor company reported $0.20 EPS for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.02. Oclaro had a net margin of 21.28% and a return on equity of 27.63%. The firm had revenue of $155.60 million for the quarter, compared to the consensus estimate of $154.51 million. During the same period in the previous year, the firm posted $0.14 earnings per share. The firm’s revenue was up 14.8% on a year-over-year basis.

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In other Oclaro news, CEO Greg Dougherty sold 40,000 shares of Oclaro stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $9.12, for a total value of $364,800.00. Following the completion of the sale, the chief executive officer now directly owns 1,441,386 shares in the company, valued at $13,145,440.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lisa Paul sold 12,182 shares of Oclaro stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 246,090 shares of the company’s stock, valued at $2,079,460.50. The disclosure for this sale can be found here. Insiders sold 85,183 shares of company stock valued at $747,174 over the last quarter. Corporate insiders own 2.00% of the company’s stock.

Several institutional investors have recently modified their holdings of OCLR. BlackRock Inc. lifted its stake in shares of Oclaro by 120.0% in the second quarter. BlackRock Inc. now owns 16,827,106 shares of the semiconductor company’s stock worth $157,166,000 after buying an additional 9,177,551 shares during the last quarter. Neumeier Poma Investment Counsel LLC acquired a new stake in shares of Oclaro in the second quarter worth $14,066,000. ING Groep NV acquired a new stake in shares of Oclaro in the second quarter worth $13,957,000. State Street Corp lifted its stake in shares of Oclaro by 54.0% in the second quarter. State Street Corp now owns 3,841,177 shares of the semiconductor company’s stock worth $35,877,000 after buying an additional 1,346,216 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Oclaro by 17.9% in the second quarter. Vanguard Group Inc. now owns 8,326,122 shares of the semiconductor company’s stock worth $77,766,000 after buying an additional 1,265,269 shares during the last quarter. Institutional investors and hedge funds own 70.69% 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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