Northland Securities Reaffirms Their Buy Rating on Oclaro

By Jason Carr

Northland Securities analyst Tim Savageaux reiterated a Buy rating on Oclaro (NASDAQ: OCLR) on October 30 and set a price target of $12.75. The company’s shares closed yesterday at $8.27.

According to TipRanks.com, Savageaux is a 1-star analyst with an average return of -2.6% and a 37.2% success rate. Savageaux covers the Consumer Goods sector, focusing on stocks such as Applied Optoelectronics, Communications Systems, and Acacia Communications.

Oclaro has an analyst consensus of Strong Buy, with a price target consensus of $12.56.

Oclaro’s market cap is currently $1.39B and has a P/E ratio of 11.03. The company has a book value ratio of 2.6989.

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

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Oclaro, Inc. designs, manufactures, and markets optical components, modules, and subsystems for optical transport, metro networks, enterprise networks, and data centers. It offers differentiated solutions for optical networks and high-speed interconnects for streaming video, cloud computing, application virtualization and other bandwidth-intensive and high-speed applications. The company was founded on April 27, 2009 and is headquartered in San Jose, CA.