Oclaro (OCLR) PT Lowered to $9.00 at DA Davidson

Oclaro (NASDAQ:OCLR) had its target price reduced by DA Davidson from $11.00 to $9.00 in a research note issued to investors on Tuesday morning, MarketBeat Ratings reports. They currently have a buy rating on the semiconductor company’s stock. DA Davidson also issued estimates for Oclaro’s Q3 2018 earnings at $0.06 EPS, Q4 2018 earnings at $0.07 EPS, FY2018 earnings at $0.42 EPS, Q1 2019 earnings at $0.08 EPS, Q2 2019 earnings at $0.09 EPS, Q3 2019 earnings at $0.11 EPS, Q4 2019 earnings at $0.12 EPS and FY2019 earnings at $0.41 EPS.

A number of other brokerages also recently issued reports on OCLR. Loop Capital started coverage on Oclaro in a research note on Monday, January 29th. They issued a buy rating and a $10.00 price objective on the stock. Stifel Nicolaus dropped their price objective on Oclaro from $10.00 to $8.50 and set a buy rating on the stock in a research note on Wednesday, January 24th. ValuEngine downgraded Oclaro from a buy rating to a hold rating in a research note on Friday, February 2nd. Needham & Company LLC downgraded Oclaro from a buy rating to a hold rating in a research note on Monday, December 18th. Finally, Jefferies Group reissued a buy rating and issued a $12.50 price objective on shares of Oclaro in a research note on Wednesday, November 1st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Buy and an average target price of $10.18.

Oclaro (OCLR) opened at $6.79 on Tuesday. The company has a market capitalization of $1,129.15, a PE ratio of 8.28, a price-to-earnings-growth ratio of 1.14 and a beta of 1.14. Oclaro has a twelve month low of $5.61 and a twelve month high of $11.30.

Oclaro (NASDAQ:OCLR) last announced its earnings results on Monday, February 5th. The semiconductor company reported $0.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.02. The firm had revenue of $139.30 million for the quarter, compared to the consensus estimate of $138.83 million. Oclaro had a return on equity of 23.17% and a net margin of 23.00%. The business’s quarterly revenue was down 9.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.21 EPS. equities research analysts predict that Oclaro will post 0.45 EPS for the current year.

In other Oclaro news, CAO Michael H. Fernicola sold 7,016 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $6.21, for a total transaction of $43,569.36. Following the completion of the sale, the chief accounting officer now directly owns 81,378 shares of the company’s stock, valued at approximately $505,357.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lisa Paul sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $7.45, for a total value of $37,250.00. Following the sale, the executive vice president now directly owns 232,950 shares of the company’s stock, valued at $1,735,477.50. The disclosure for this sale can be found here. Insiders sold a total of 51,271 shares of company stock valued at $364,240 over the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of OCLR. Schwab Charles Investment Management Inc. increased its holdings in Oclaro by 20.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 621,525 shares of the semiconductor company’s stock worth $5,806,000 after purchasing an additional 105,831 shares in the last quarter. Alliancebernstein L.P. increased its holdings in Oclaro by 95.8% during the 2nd quarter. Alliancebernstein L.P. now owns 254,400 shares of the semiconductor company’s stock worth $2,376,000 after purchasing an additional 124,500 shares in the last quarter. Nationwide Fund Advisors increased its holdings in Oclaro by 20.1% during the 2nd quarter. Nationwide Fund Advisors now owns 140,928 shares of the semiconductor company’s stock worth $1,316,000 after purchasing an additional 23,611 shares in the last quarter. BlackRock Inc. increased its holdings in Oclaro by 120.0% during 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 in the last quarter. Finally, Amalgamated Bank increased its holdings in Oclaro by 64.6% during the 2nd quarter. Amalgamated Bank now owns 22,652 shares of the semiconductor company’s stock worth $212,000 after purchasing an additional 8,889 shares in the last quarter. 70.69% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Oclaro (NASDAQ:OCLR)

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