Oclaro, Inc. (OCLR) Hits New 1-Year Low Following Analyst Downgrade

Oclaro, Inc. (NASDAQ:OCLR)’s share price reached a new 52-week low during trading on Thursday after ValuEngine downgraded the stock from a buy rating to a hold rating. The stock traded as low as $6.07 and last traded at $0.00, with a volume of shares changing hands.

Other equities research analysts also recently issued reports about the stock. B. Riley restated a “buy” rating and issued a $11.75 price target on shares of Oclaro in a research note on Tuesday, August 8th. DA Davidson restated a “buy” rating and issued a $11.00 price target on shares of Oclaro in a research note on Thursday. Craig Hallum downgraded shares of Oclaro from a “buy” rating to a “hold” rating in a research note on Thursday. Needham & Company LLC downgraded shares of Oclaro from a “strong-buy” rating to a “buy” rating and reduced their price target for the company from $14.00 to $9.00 in a research note on Thursday. Finally, Northland Securities restated a “buy” rating and issued a $12.75 price target on shares of Oclaro in a research note on Friday, September 15th. One analyst has rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $12.67.

In related news, EVP David Teichmann sold 20,132 shares of Oclaro 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 sale, the executive vice president now directly owns 422,126 shares in the company, valued at approximately $3,533,194.62. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Lisa Paul sold 12,182 shares of Oclaro stock in a transaction that occurred on Thursday, August 31st. The stock was 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 $2,079,460.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 85,183 shares of company stock worth $747,174. 2.00% of the stock is owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its position in shares of Oclaro by 120.0% in the 2nd quarter. BlackRock Inc. now owns 16,827,106 shares of the semiconductor company’s stock worth $157,166,000 after purchasing an additional 9,177,551 shares during the period. Neumeier Poma Investment Counsel LLC acquired a new position in shares of Oclaro in the 2nd quarter worth approximately $14,066,000. ING Groep NV acquired a new position in shares of Oclaro in the 2nd quarter worth approximately $13,957,000. State Street Corp lifted its position in shares of Oclaro by 54.0% in the 2nd quarter. State Street Corp now owns 3,841,177 shares of the semiconductor company’s stock worth $35,877,000 after purchasing an additional 1,346,216 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of Oclaro by 17.9% in the 2nd quarter. Vanguard Group Inc. now owns 8,326,122 shares of the semiconductor company’s stock worth $77,766,000 after purchasing an additional 1,265,269 shares during the period. Institutional investors and hedge funds own 70.69% of the company’s stock.

The stock has a market capitalization of $1.04 billion, a PE ratio of 7.64, a PEG ratio of 0.69 and a beta of 1.41.

Oclaro (NASDAQ:OCLR) last issued its earnings results on Wednesday, November 1st. The semiconductor company reported $0.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.02. Oclaro had a net margin of 24.31% and a return on equity of 28.11%. The firm had revenue of $155.60 million for the quarter, compared to analysts’ expectations of $154.51 million. During the same quarter last year, the company posted $0.14 earnings per share. Oclaro’s revenue was up 14.8% on a year-over-year basis. analysts anticipate that Oclaro, Inc. will post 0.65 earnings per share for the current year.

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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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