The Oclaro Inc. (OCLR) Price Target Increased to $13.25 by Analysts at Jefferies Group

The Oclaro Inc. (OCLR) Price Target Increased to $13.25 by Analysts at Jefferies Group

Oclaro Inc. (NASDAQ:OCLR) had its price target raised by investment analysts at Jefferies Group to $13.25 in a research report issued to clients and investors on Thursday. Jefferies Group’s target price indicates a potential upside of 62.98% from the company’s current price.

Other equities analysts have also issued reports about the stock. B. Riley restated a “buy” rating and set a $13.50 price target on shares of Oclaro in a research report on Wednesday, November 2nd. MKM Partners boosted their price target on shares of Oclaro from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, November 2nd. Needham & Company LLC restated a “strong-buy” rating and set a $14.00 price target on shares of Oclaro in a research report on Friday, January 6th. Vetr lowered shares of Oclaro from a “strong-buy” rating to a “buy” rating and set a $10.31 price target on the stock. in a research report on Thursday, October 6th. Finally, Stifel Nicolaus boosted their price target on shares of Oclaro from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, November 2nd. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $10.57.

Oclaro (NASDAQ:OCLR) opened at 8.13 on Thursday. The stock’s 50 day moving average is $8.71 and its 200-day moving average is $7.86. Oclaro has a 12 month low of $3.22 and a 12 month high of $10.19. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 64.52 and a beta of 2.03.

Oclaro (NASDAQ:OCLR) last posted its quarterly earnings results on Tuesday, November 1st. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.04. The firm had revenue of $135.50 million for the quarter, compared to analyst estimates of $131.65 million. Oclaro had a net margin of 3.39% and a return on equity of 14.48%. Oclaro’s quarterly revenue was up 54.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.02) earnings per share. On average, equities research analysts expect that Oclaro will post $0.52 earnings per share for the current year.

In related news, insider Thomas Gordon Beck Mason sold 7,566 shares of the company’s stock in a transaction that occurred on Tuesday, December 13th. The shares were sold at an average price of $8.35, for a total transaction of $63,176.10. Following the sale, the insider now directly owns 253,338 shares of the company’s stock, valued at approximately $2,115,372.30. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Lisa Paul sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, December 1st. The stock was sold at an average price of $8.79, for a total transaction of $43,950.00. Following the sale, the executive vice president now directly owns 207,474 shares in the company, valued at $1,823,696.46. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in OCLR. TIAA CREF Investment Management LLC boosted its position in Oclaro by 683.7% in the third quarter. TIAA CREF Investment Management LLC now owns 2,431,683 shares of the company’s stock valued at $20,791,000 after buying an additional 2,121,413 shares during the period. Paradigm Capital Management Inc. NY boosted its position in Oclaro by 122.3% in the third quarter. Paradigm Capital Management Inc. NY now owns 1,096,600 shares of the company’s stock valued at $9,376,000 after buying an additional 603,400 shares during the period. Swiss National Bank boosted its position in Oclaro by 49.2% in the third quarter. Swiss National Bank now owns 260,200 shares of the company’s stock valued at $2,225,000 after buying an additional 85,800 shares during the period. B. Riley Financial Inc. boosted its position in 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 during the period. Finally, Insight Capital Research & Management Inc. purchased a new position in Oclaro during the third quarter valued at approximately $2,318,000. 61.88% of the stock is currently owned by hedge funds and other institutional investors.

About Oclaro

Oclaro, Inc is a provider of optical components, modules and subsystems for the core optical transport, service provider, enterprise and data center markets. The Company provides various solutions for optical networks and interconnects driving the next wave of streaming video, cloud computing, application virtualization and other bandwidth-intensive and high-speed applications.

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