Oclaro (OCLR) Lowered to “Strong Sell” at BidaskClub

Oclaro (NASDAQ:OCLR) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Tuesday.

Several other equities analysts have also recently issued reports on the company. ValuEngine upgraded Oclaro from a “hold” rating to a “buy” rating in a research report on Friday, August 10th. DA Davidson reiterated a “buy” rating and set a $9.00 target price on shares of Oclaro in a research report on Monday, June 11th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $9.44.

NASDAQ OCLR opened at $8.50 on Tuesday. Oclaro has a 12-month low of $5.61 and a 12-month high of $10.20. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 19.32, a price-to-earnings-growth ratio of 1.34 and a beta of 0.56.

Oclaro (NASDAQ:OCLR) last released its earnings results on Monday, August 13th. The semiconductor company reported $0.08 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.08. Oclaro had a return on equity of 13.34% and a net margin of 11.50%. The company had revenue of $120.94 million for the quarter, compared to analysts’ expectations of $120.22 million. Sell-side analysts forecast that Oclaro will post 0.33 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. increased its stake in Oclaro by 3.2% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 807,656 shares of the semiconductor company’s stock valued at $7,722,000 after purchasing an additional 25,197 shares in the last quarter. Northern Trust Corp grew its stake in shares of Oclaro by 1.9% in the 1st quarter. Northern Trust Corp now owns 2,014,057 shares of the semiconductor company’s stock worth $19,254,000 after acquiring an additional 38,216 shares in the last quarter. BlackRock Inc. grew its stake in shares of Oclaro by 5.1% in the 1st quarter. BlackRock Inc. now owns 21,911,848 shares of the semiconductor company’s stock worth $209,477,000 after acquiring an additional 1,054,350 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Oclaro by 560.0% in the 1st quarter. JPMorgan Chase & Co. now owns 1,277,533 shares of the semiconductor company’s stock worth $12,213,000 after acquiring an additional 1,083,969 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Oclaro by 3.6% in the 1st quarter. Principal Financial Group Inc. now owns 1,328,416 shares of the semiconductor company’s stock worth $12,699,000 after acquiring an additional 46,205 shares in the last quarter. Institutional investors and hedge funds own 69.28% of the company’s stock.

About Oclaro

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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