Oclaro Sees Unusually Large Options Volume (OCLR)
Oclaro, Inc. (NASDAQ:OCLR) was the target of some unusual options trading on Wednesday. Stock investors acquired 8,352 call options on the company. This represents an increase of 152% compared to the average daily volume of 3,315 call options.
In other news, EVP David Teichmann sold 20,132 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $8.37, for a total value of $168,504.84. Following the completion of the sale, the executive vice president now directly owns 422,126 shares in the company, valued at approximately $3,533,194.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 at an average price of $9.12, for a total value of $364,800.00. Following the completion of the sale, the chief executive officer now owns 1,441,386 shares of the company’s stock, valued at $13,145,440.32. The disclosure for this sale can be found here. Insiders sold a total of 78,001 shares of company stock valued at $690,086 over the last quarter. Company insiders own 2.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Emerald Advisers Inc. PA bought a new position in shares of Oclaro during the first quarter valued at about $13,079,000. ING Groep NV bought a new position in shares of Oclaro during the second quarter valued at about $13,957,000. Legato Capital Management LLC bought a new position in shares of Oclaro during the second quarter valued at about $417,000. Essex Investment Management Co. LLC increased its position in shares of Oclaro by 12.0% in the second quarter. Essex Investment Management Co. LLC now owns 350,236 shares of the semiconductor company’s stock valued at $3,271,000 after buying an additional 37,460 shares during the period. Finally, Princeton Capital Management Inc. bought a new position in shares of Oclaro during the first quarter valued at about $617,000. Institutional investors and hedge funds own 74.45% of the company’s stock.
Oclaro (OCLR) opened at 8.58 on Monday. The company has a market capitalization of $1.45 billion, a P/E ratio of 11.14 and a beta of 1.55. Oclaro has a 52 week low of $6.91 and a 52 week high of $11.30. The company’s 50-day moving average price is $9.24 and its 200-day moving average price is $9.25.
Oclaro (NASDAQ:OCLR) last announced its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.16 by $0.03. Oclaro had a net margin of 21.28% and a return on equity of 27.63%. The business had revenue of $149.38 million during the quarter, compared to the consensus estimate of $148.04 million. During the same period in the previous year, the business earned $0.11 earnings per share. The company’s revenue was up 19.3% on a year-over-year basis. On average, equities analysts forecast that Oclaro will post $0.74 EPS for the current fiscal year.
A number of equities research analysts have recently weighed in on OCLR shares. B. Riley reiterated a “buy” rating and issued a $12.00 price target on shares of Oclaro in a report on Wednesday, May 3rd. Stifel Nicolaus lowered their price target on Oclaro from $11.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, May 3rd. Piper Jaffray Companies lowered their price target on Oclaro from $15.00 to $12.00 and set an “overweight” rating for the company in a report on Wednesday, May 3rd. Cowen and Company lowered their price target on Oclaro from $17.00 to $13.00 and set an “outperform” rating for the company in a report on Wednesday, May 3rd. Finally, Jefferies Group LLC lowered their price target on Oclaro from $14.00 to $12.00 and set a “buy” rating for the company in a report on Wednesday, May 3rd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $12.97.
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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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