Oclaro (OCLR) Sees Large Volume Increase
Shares of Oclaro Inc (NASDAQ:OCLR) saw unusually-strong trading volume on Monday . Approximately 80,059,337 shares traded hands during trading, an increase of 1,177% from the previous session’s volume of 6,271,024 shares.The stock last traded at $10.01 and had previously closed at $7.85.
A number of equities research analysts have recently weighed in on OCLR shares. UBS Group started coverage on Oclaro in a report on Wednesday, January 31st. They set a “sell” rating and a $5.50 price target on the stock. Needham & Company LLC cut Oclaro from a “buy” rating to a “hold” rating in a report on Monday, December 18th. Loop Capital started coverage on Oclaro in a report on Monday, January 29th. They set a “buy” rating and a $10.00 price target on the stock. Stifel Nicolaus cut their price target on Oclaro from $10.00 to $8.50 and set a “buy” rating on the stock in a report on Wednesday, January 24th. Finally, Morgan Stanley assumed coverage on Oclaro in a report on Friday, March 9th. They set an “equal weight” rating and a $8.00 target price on the stock. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $10.43.
The company has a market cap of $1,696.01, a price-to-earnings ratio of 12.24, a P/E/G ratio of 1.76 and a beta of 0.91.
In other Oclaro news, EVP David Teichmann sold 24,962 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $6.41, for a total value of $160,006.42. Following the transaction, the executive vice president now owns 349,305 shares of the company’s stock, valued at $2,239,045.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Lisa Paul sold 5,000 shares of the company’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $7.45, for a total value of $37,250.00. Following the completion of the transaction, the executive vice president now directly owns 232,950 shares in the company, valued at approximately $1,735,477.50. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of OCLR. Crossmark Global Holdings Inc. bought a new position in shares of Oclaro in the third quarter valued at $351,000. Victory Capital Management Inc. increased its holdings in shares of Oclaro by 46.2% in the third quarter. Victory Capital Management Inc. now owns 266,762 shares of the semiconductor company’s stock valued at $2,302,000 after buying an additional 84,342 shares in the last quarter. New York State Teachers Retirement System increased its holdings in shares of Oclaro by 26.3% in the third quarter. New York State Teachers Retirement System now owns 78,367 shares of the semiconductor company’s stock valued at $676,000 after buying an additional 16,300 shares in the last quarter. State of Tennessee Treasury Department increased its holdings in shares of Oclaro by 24.3% in the third quarter. State of Tennessee Treasury Department now owns 147,479 shares of the semiconductor company’s stock valued at $1,273,000 after buying an additional 28,784 shares in the last quarter. Finally, American Century Companies Inc. bought a new position in shares of Oclaro in the third quarter valued at $874,000. 68.75% of the stock is currently owned by institutional investors.
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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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