Oclaro (OCLR) Shares Gap Up to $8.07

Shares of Oclaro Inc (NASDAQ:OCLR) gapped up before the market opened on Monday . The stock had previously closed at $7.77, but opened at $8.07. Oclaro shares last traded at $8.45, with a volume of 2990064 shares traded.

OCLR has been the subject of a number of recent analyst reports. BidaskClub downgraded shares of Oclaro from a “hold” rating to a “sell” rating in a research report on Thursday, September 6th. ValuEngine raised shares of Oclaro from a “hold” rating to a “buy” rating in a research report on Friday, August 10th. Finally, Zacks Investment Research raised shares of Oclaro from a “sell” rating to a “hold” rating in a research report on Saturday. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $9.48.

The firm 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 (NASDAQ:OCLR) last released its quarterly earnings data on Thursday, November 8th. The semiconductor company reported $0.07 EPS for the quarter, hitting 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 net margin of 8.90% and a return on equity of 9.44%. Analysts anticipate that Oclaro Inc will post 0.3 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in the business. FMR LLC boosted its holdings in Oclaro by 1.4% in the third quarter. FMR LLC now owns 515,340 shares of the semiconductor company’s stock worth $4,607,000 after purchasing an additional 7,290 shares during the period. Virtu Financial LLC boosted its holdings in Oclaro by 69.2% in the third quarter. Virtu Financial LLC now owns 19,079 shares of the semiconductor company’s stock worth $171,000 after purchasing an additional 7,804 shares during the period. Public Employees Retirement Association of Colorado boosted its holdings in Oclaro by 109.5% in the third quarter. Public Employees Retirement Association of Colorado now owns 18,153 shares of the semiconductor company’s stock worth $162,000 after purchasing an additional 9,487 shares during the period. Gamco Investors INC. ET AL acquired a new position in Oclaro in the third quarter worth $133,000. Finally, Wells Fargo & Company MN boosted its holdings in Oclaro by 3.9% in the third quarter. Wells Fargo & Company MN now owns 404,518 shares of the semiconductor company’s stock worth $3,616,000 after purchasing an additional 15,295 shares during the period. 72.93% of the stock is owned by hedge funds and other institutional investors.

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Oclaro Company Profile (NASDAQ:OCLR)

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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