Northland Securities Sticks to Their Buy Rating for Oclaro

By Jason Carr

Northland Securities analyst Tim Savageaux reiterated a Buy rating on Oclaro (NASDAQ: OCLR) on September 15 and set a price target of $12.75. The company’s shares closed on Friday at $9.07.

According to TipRanks.com, Savageaux is a 1-star analyst with an average return of -3.5% and a 42.4% success rate. Savageaux covers the Consumer Goods sector, focusing on stocks such as Applied Optoelectronics, Communications Systems, and Acacia Communications.

Currently, the analyst consensus on Oclaro is Strong Buy and the average price target is $12.81, representing a 41.2% upside.

In a report issued on September 15, Raymond James also initiated coverage with a Buy rating on the stock with a $12 price target.

Oclaro’s market cap is currently $1.52B and has a P/E ratio of 12.09. The company has a book value ratio of 2.9600.

Based on the recent corporate insider activity of 74 insiders, corporate insider sentiment is negative on the stock.

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Oclaro, Inc. engages in the provision, design, manufacture, and market of lasers and optical components, modules, and subsystems for the optical communications, industrial, and consumer laser markets. Its product portfolio includes tunable, fixed lasers, and transmitters; lithium niobate modulators; receivers; transceivers; and coherent pluggable modules.