Oclaro (OCLR) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Oclaro (NASDAQ:OCLR) from a sell rating to a hold rating in a report issued on Saturday.

According to Zacks, “Oclaro, with headquarters in San Jose, California, is a tier 1 provider of high performance optical components, modules and subsystems to the telecommunications market, and is one of the largest providers to metro and long haul network applications. Oclaro, the result of the combination of Bookham, Inc. and Avanex Corporation, leverages proprietary core technologies and vertically integrated product development to provide its customers with cost-effective and innovative optical devices, modules and subsystems. Its photonic technologies also serve selected potential high growth markets, including industrial, defense, life sciences, semiconductor, and scientific, with diversification providing both significant potential revenue streams and strategic technological advantage. Oclaro is a global company, with leading chip fabrication facilities in the UK, Switzerland and Italy, and manufacturing sites in the US, Thailand and China. “

A number of other research analysts also recently commented on OCLR. BidaskClub downgraded Oclaro from a sell rating to a strong sell rating in a report on Tuesday, October 9th. ValuEngine raised Oclaro from a hold rating to a buy rating in a report on Friday, August 10th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $9.48.

Shares of OCLR opened at $8.45 on Friday. The stock has a market capitalization of $1.38 billion, a P/E ratio of 19.20, a price-to-earnings-growth ratio of 1.33 and a beta of 0.57. Oclaro has a one year low of $5.61 and a one year high of $10.20.

Oclaro (NASDAQ:OCLR) last issued its quarterly earnings results on Thursday, November 8th. The semiconductor company reported $0.07 EPS for the quarter, meeting analysts’ consensus estimates of $0.07. The firm had revenue of $131.66 million during the quarter, compared to the consensus estimate of $128.15 million. Oclaro had a return on equity of 9.44% and a net margin of 8.90%. As a group, equities analysts forecast that Oclaro will post 0.3 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in Oclaro by 9.5% during the 2nd quarter. BlackRock Inc. now owns 23,997,225 shares of the semiconductor company’s stock worth $214,294,000 after buying an additional 2,085,377 shares during the last quarter. LMR Partners LLP acquired a new stake in shares of Oclaro during the 2nd quarter worth approximately $4,465,000. ARP Americas LP raised its position in shares of Oclaro by 11.3% during the 3rd quarter. ARP Americas LP now owns 209,308 shares of the semiconductor company’s stock worth $1,871,000 after purchasing an additional 21,167 shares during the period. Legal & General Group Plc raised its position in shares of Oclaro by 6.0% during the 2nd quarter. Legal & General Group Plc now owns 367,204 shares of the semiconductor company’s stock worth $3,256,000 after purchasing an additional 20,900 shares during the period. Finally, GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in shares of Oclaro during the 3rd quarter worth approximately $2,715,000. 72.93% of the stock is currently owned by institutional investors.

Oclaro Company Profile

Oclaro, Inc designs, manufactures, and markets optical components, modules, and subsystems for the long-haul, metro, and data center markets worldwide. The company's products generate, detect, combine, and separate light signals in optical communications networks. It offers client side transceivers, including pluggable transceivers; line side transceivers; tunable laser transmitters, such as discrete lasers and co-packaged laser modulators; lithium niobate modulators to manipulate the phase or the amplitude of an optical signal; transponder modules for transmitter and receiver functions; and discrete lasers and receivers for metro and long-haul applications.

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