Today: The Oclaro Inc. (OCLR) Cut to “Buy” at Vetr Inc.

The Oclaro Inc. (OCLR) Cut to “Buy” at Vetr Inc.

Vetr lowered shares of Oclaro Inc. (NASDAQ:OCLR) from a strong-buy rating to a buy rating in a research note published on Thursday morning. The firm currently has $10.31 target price on the stock.

OCLR has been the topic of a number of other reports. Zacks Investment Research raised shares of Oclaro from a hold rating to a strong-buy rating and set a $8.50 price target on the stock in a report on Wednesday, August 17th. B. Riley reissued a buy rating and issued a $11.00 price target on shares of Oclaro in a report on Thursday, October 6th. Jefferies Group began coverage on shares of Oclaro in a report on Monday, October 3rd. They issued a buy rating and a $11.25 price target on the stock. Needham & Company LLC reissued a strong-buy rating and issued a $8.00 price target (up from $7.50) on shares of Oclaro in a report on Wednesday, August 3rd. Finally, Piper Jaffray Cos. reissued an overweight rating and issued a $9.00 price target on shares of Oclaro in a report on Wednesday, September 7th. One analyst has rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $8.86.

Shares of Oclaro (NASDAQ:OCLR) opened at 8.39 on Thursday. Oclaro has a 52 week low of $2.37 and a 52 week high of $9.34. The firm has a market capitalization of $1.24 billion, a P/E ratio of 107.56 and a beta of 1.82. The firm’s 50-day moving average is $8.48 and its 200-day moving average is $6.09.

Oclaro (NASDAQ:OCLR) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.05. The company had revenue of $125.20 million for the quarter, compared to the consensus estimate of $119.41 million. Oclaro had a net margin of 2.10% and a return on equity of 6.24%. The firm’s quarterly revenue was up 52.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.06) EPS. Equities analysts anticipate that Oclaro will post $0.39 EPS for the current year.

In related news, EVP Lisa Paul sold 9,363 shares of the company’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $7.69, for a total value of $72,001.47. Following the transaction, the executive vice president now directly owns 218,264 shares in the company, valued at $1,678,450.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Adam Carter sold 19,506 shares of the company’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $6.00, for a total transaction of $117,036.00. Following the completion of the transaction, the insider now owns 202,584 shares in the company, valued at $1,215,504. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of OCLR. Integral Derivatives LLC raised its stake in shares of Oclaro by 1.6% in the second quarter. Integral Derivatives LLC now owns 27,318 shares of the company’s stock valued at $133,000 after buying an additional 418 shares in the last quarter. B. Riley Financial Inc. raised its stake in shares of Oclaro by 2.1% in the second quarter. B. Riley Financial Inc. now owns 43,803 shares of the company’s stock valued at $214,000 after buying an additional 900 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Oclaro by 2.0% in the second quarter. AQR Capital Management LLC now owns 65,838 shares of the company’s stock valued at $321,000 after buying an additional 1,285 shares in the last quarter. Menta Capital LLC raised its stake in shares of Oclaro by 1.8% in the second quarter. Menta Capital LLC now owns 86,223 shares of the company’s stock valued at $421,000 after buying an additional 1,500 shares in the last quarter. Finally, BlackRock Advisors LLC raised its stake in shares of Oclaro by 4.9% in the second quarter. BlackRock Advisors LLC now owns 49,333 shares of the company’s stock valued at $241,000 after buying an additional 2,301 shares in the last quarter. Institutional investors own 62.49% of the company’s stock.

About Oclaro

Oclaro, Inc is a provider of optical components, modules and subsystems for the optical transport, service provider, enterprise and data center markets. The Company supplies optical network technology to telecommunication and data communication equipment companies across the world. The Company designs, manufactures and markets optical components, modules and subsystems that generate, detect, combine and separate light signals in optical communications networks.

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