Stock to Watch: Oclaro, Inc. (OCLR)

If the published price targets set by Oclaro, Inc. analysts have any power to influence the stock’s share price, the highest price target set for OCLR is $14.

A stock rating usually tells investors how well a stock’s market value relates to what analysts think is a fair value for the stock, based on an independent evaluation of the company.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Park Avenue Securities LLC purchased a new stake in shares of Oclaro during the 1st quarter valued at about $104,000. First Trust Advisors LP purchased a new position in Oclaro in the second quarter valued at about $1,464,000.

If you look at the company’s income statement over the past years, you will see that the company is constantly posting gross profit: In 2014, OCLR earned gross profit of 56.75 Million, in 2015 116.42 Million gross profit, while in 2016 Oclaro, Inc. Following the completion of the transaction, the executive vice president now directly owns 246,090 shares of the company’s stock, valued at $2,079,460.50. Previously Oclaro Inc (NASDAQ:OCLR) reported $0.2 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.03 with surprise factor of 17.6%. Over the trailing year, the stock is underperforming the S&P 500 by 7.87, and it’s gotten there by action that has been more volatile on a day-to-day basis than most other stocks on the exchange. Also, CEO Greg Dougherty sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold on August 31st for an average price of $8.45. Following the completion of the transaction, the chief executive officer now directly owns 1,441,386 shares of the company’s stock, valued at $13,145,440.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

In related news, EVP David Teichmann sold 20,132 shares of the business’s stock in a transaction dated Friday, August 11th. Insiders have sold 85,183 shares of company stock worth $747,174 over the last three months.

The short ratio in the company’s stock is documented at 5.60 and the short float is around of 29.80%.

COPYRIGHT VIOLATION WARNING: This story was reported by BBNS and is the property of of BBNS. Prelude Cap Ltd owns 0.17% invested in Oclaro Inc (NASDAQ:OCLR) for 157,633 shares. As of the end of the quarter Pacad Investment Ltd. had disposed of 74,414 shares trimming its position 37.2%. Jefferies maintained the stock with “Hold” rating in Thursday, June 29 report. They issued a “buy” rating and a $14.00 price objective for the company. Cowen and Company reaffirmed an “outperform” rating and issued a $14.00 price objective (up from $13.00) on shares of Oclaro in a research note on Thursday, August 3rd.

According to the Recommendation Trends of the stock polled by Finviz, the company has a consensus recommendation of 1.8 out of the scale from 1 to 5 where 1 stands for Buy and 5 means Sell. The share last price represents downtick move of -24.34% in value from company’s 52-Week high price and shows 23.64% above change in value from its 52-Week low price. Marvin & Palmer Associates Inc owns 732,400 shares or 5.59% of their United States portfolio. With 6.06M avg volume, 8 days are for Oclaro Incorporated (NASDAQ:OCLR)’s short sellers to cover OCLR’s short positions. The stock closing price is now trading downward to its 50 day moving average with change of -7.41%, escalated to its 20 day moving average with figure of 0.19% and behind its 200 day moving average with value -6.87%. (OCLR) now trades with a market capitalization of $1.47 Billion. During the last month, the stock has changed 4.52% and performed 12.06% over the last 6 months.

Oclaro (NASDAQ:OCLR) last announced its quarterly earnings data on Wednesday, August 2nd. As of the last earnings report the EPS was $0.77 and is estimated to be $0.74 for the current year with 168,660,000 shares presently outstanding. Oclaro had a net margin of 21.28% and a return on equity of 27.63%.

10 analysts on average are expecting the company to report revenue of $160.19 Million for the current quarter. During the same period in the previous year, the company posted $0.11 earnings per share. OCLR generated revenue of $0 in the same quarter, one year ago. Equities research analysts anticipate that Oclaro, Inc. will post $0.74 earnings per share for the current year.

Leave a Reply

Your email address will not be published. Required fields are marked *