Oclaro (OCLR) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Oclaro (NASDAQ:OCLR) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning.

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. “

Several other research firms also recently weighed in on OCLR. BidaskClub downgraded shares of Oclaro from a hold rating to a sell rating in a research note on Thursday, September 6th. ValuEngine upgraded shares of Oclaro from a hold rating to a buy rating in a research note on Friday, August 10th. One equities 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 stock. The company presently has an average rating of Hold and a consensus target price of $9.48.

OCLR opened at $7.75 on Wednesday. The stock has a market capitalization of $1.29 billion, a PE ratio of 17.61, a price-to-earnings-growth ratio of 1.24 and a beta of 0.61. Oclaro has a twelve month low of $5.61 and a twelve month high of $10.20.

Oclaro (NASDAQ:OCLR) last posted its earnings results on Thursday, November 8th. The semiconductor company reported $0.07 earnings per share for the quarter, hitting the consensus estimate 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%. As a group, equities research analysts expect that Oclaro will post 0.3 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of the stock. FMR LLC grew its stake in Oclaro by 1.4% in the 3rd quarter. FMR LLC now owns 515,340 shares of the semiconductor company’s stock worth $4,607,000 after buying an additional 7,290 shares in the last quarter. Virtu Financial LLC grew its stake in Oclaro by 69.2% in the 3rd quarter. Virtu Financial LLC now owns 19,079 shares of the semiconductor company’s stock worth $171,000 after buying an additional 7,804 shares in the last quarter. Public Employees Retirement Association of Colorado grew its stake in Oclaro by 109.5% in the 3rd quarter. Public Employees Retirement Association of Colorado now owns 18,153 shares of the semiconductor company’s stock worth $162,000 after buying an additional 9,487 shares in the last quarter. ARP Americas LP grew its stake in Oclaro by 6.6% in the 2nd quarter. ARP Americas LP now owns 188,141 shares of the semiconductor company’s stock worth $1,680,000 after buying an additional 11,594 shares in the last quarter. Finally, Gamco Investors INC. ET AL purchased a new position in Oclaro in the 3rd quarter worth approximately $133,000. 71.09% of the stock is owned by institutional investors.

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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