Oclaro (NASDAQ:OCLR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday.
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. “
OCLR has been the topic of a number of other research reports. Piper Jaffray downgraded Oclaro from an “overweight” rating to a “neutral” rating in a research report on Monday, March 12th. Raymond James downgraded Oclaro from a “buy” rating to a “hold” rating in a research report on Wednesday, March 14th. Cowen reiterated a “buy” rating and set a $8.00 price objective on shares of Oclaro in a research report on Tuesday, February 6th. Stifel Nicolaus reduced their price objective on Oclaro from $8.50 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, February 6th. Finally, Loop Capital downgraded Oclaro from a “buy” rating to a “hold” rating in a research report on Monday, March 12th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the stock. Oclaro currently has an average rating of “Hold” and a consensus price target of $10.67.
Oclaro (NASDAQ:OCLR) last announced its quarterly earnings data on Monday, February 5th. The semiconductor company reported $0.14 EPS for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.02. Oclaro had a return on equity of 23.17% and a net margin of 23.00%. The firm had revenue of $139.30 million for the quarter, compared to the consensus estimate of $138.83 million. During the same quarter last year, the business posted $0.21 earnings per share. The firm’s revenue was down 9.5% compared to the same quarter last year. analysts forecast that Oclaro will post 0.43 EPS for the current year.
In other Oclaro news, EVP Lisa Paul sold 5,000 shares of the firm’s stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $10.10, for a total transaction of $50,500.00. Following the completion of the sale, the executive vice president now owns 216,886 shares of the company’s stock, valued at $2,190,548.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP David Teichmann sold 24,962 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $6.41, for a total value of $160,006.42. Following the sale, the executive vice president now directly owns 349,305 shares of the company’s stock, valued at approximately $2,239,045.05. The disclosure for this sale can be found here. In the last three months, insiders have sold 119,436 shares of company stock valued at $1,088,446. 2.00% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Xact Kapitalforvaltning AB acquired a new stake in shares of Oclaro in the fourth quarter valued at $156,000. Segall Bryant & Hamill LLC grew its stake in shares of Oclaro by 85.7% in the fourth quarter. Segall Bryant & Hamill LLC now owns 501,877 shares of the semiconductor company’s stock valued at $3,383,000 after buying an additional 231,612 shares in the last quarter. MetLife Investment Advisors LLC acquired a new stake in shares of Oclaro in the fourth quarter valued at $429,000. Municipal Employees Retirement System of Michigan grew its stake in shares of Oclaro by 39.3% in the fourth quarter. Municipal Employees Retirement System of Michigan now owns 193,680 shares of the semiconductor company’s stock valued at $1,306,000 after buying an additional 54,650 shares in the last quarter. Finally, Meadow Creek Investment Management LLC acquired a new stake in shares of Oclaro in the fourth quarter valued at $147,000. 68.49% of the stock is owned by institutional investors and hedge funds.
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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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