Oclaro, Inc. (NASDAQ:OCLR) was the target of unusually large options trading on Monday. Stock investors acquired 7,228 put options on the stock. This represents an increase of 162% compared to the typical daily volume of 2,756 put options.
Shares of Oclaro (NASDAQ:OCLR) opened at 9.86 on Friday. Oclaro has a 12 month low of $5.46 and a 12 month high of $11.30. The firm has a market cap of $1.65 billion, a P/E ratio of 17.93 and a beta of 1.54. The company has a 50-day moving average of $9.68 and a 200-day moving average of $9.32.
Oclaro (NASDAQ:OCLR) last released its quarterly earnings data on Tuesday, May 2nd. The semiconductor company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.04. Oclaro had a net margin of 14.51% and a return on equity of 28.78%. The business had revenue of $162.18 million for the quarter, compared to analyst estimates of $160.06 million. During the same quarter last year, the firm earned $0.03 EPS. Equities analysts forecast that Oclaro will post $0.76 EPS for the current fiscal year.
Several equities analysts recently commented on OCLR shares. Zacks Investment Research raised Oclaro from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a report on Wednesday, April 5th. ValuEngine raised Oclaro from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 3rd. Rosenblatt Securities started coverage on Oclaro in a report on Wednesday, May 17th. They issued a “buy” rating and a $12.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $21.00 target price (down previously from $35.00) on shares of Oclaro in a report on Thursday, July 13th. Finally, DA Davidson initiated coverage on Oclaro in a report on Thursday, June 22nd. They set a “buy” rating and a $14.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $12.87.
In other news, insider Michael H. Fernicola sold 5,067 shares of the company’s stock in a transaction on Friday, May 12th. The stock was sold at an average price of $8.77, for a total transaction of $44,437.59. Following the sale, the insider now owns 61,292 shares of the company’s stock, valued at $537,530.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lisa Paul sold 5,000 shares of the company’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $9.17, for a total value of $45,850.00. Following the sale, the executive vice president now directly owns 183,460 shares in the company, valued at approximately $1,682,328.20. The disclosure for this sale can be found here. Insiders sold 124,031 shares of company stock worth $1,114,852 over the last quarter. 2.30% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Suntrust Banks Inc. raised its position in shares of Oclaro by 1.9% in the first quarter. Suntrust Banks Inc. now owns 19,133 shares of the semiconductor company’s stock worth $187,000 after buying an additional 355 shares during the last quarter. John G Ullman & Associates Inc. raised its position in shares of Oclaro by 2.4% in the second quarter. John G Ullman & Associates Inc. now owns 25,300 shares of the semiconductor company’s stock worth $236,000 after buying an additional 600 shares during the last quarter. Cypress Capital Management LLC WY raised its position in shares of Oclaro by 1.9% in the second quarter. Cypress Capital Management LLC WY now owns 54,500 shares of the semiconductor company’s stock worth $509,000 after buying an additional 1,040 shares during the last quarter. Tealwood Asset Management Inc. raised its position in shares of Oclaro by 0.8% in the second quarter. Tealwood Asset Management Inc. now owns 182,695 shares of the semiconductor company’s stock worth $1,706,000 after buying an additional 1,535 shares during the last quarter. Finally, National Asset Management Inc. raised its position in shares of Oclaro by 15.2% in the first quarter. National Asset Management Inc. now owns 12,144 shares of the semiconductor company’s stock worth $121,000 after buying an additional 1,601 shares during the last quarter. 70.61% of the stock is currently owned by institutional investors and hedge funds.
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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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