Oclaro, Inc. (NASDAQ:OCLR) Sees Significant Decrease in Short Interest

Oclaro, Inc. (NASDAQ:OCLR) saw a significant decrease in short interest in October. As of October 13th, there was short interest totalling 44,664,528 shares, a decrease of 3.4% from the September 29th total of 46,231,713 shares. Based on an average daily volume of 3,773,336 shares, the short-interest ratio is presently 11.8 days. Approximately 27.3% of the shares of the stock are sold short.

In other Oclaro news, EVP Lisa Paul sold 12,182 shares of the company’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $8.45, for a total value of $102,937.90. Following the sale, the executive vice president now owns 246,090 shares of the company’s stock, valued at $2,079,460.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $364,800.00. Following the completion of the transaction, the chief executive officer now directly owns 1,441,386 shares of the company’s stock, valued at approximately $13,145,440.32. The disclosure for this sale can be found here. Insiders sold 65,051 shares of company stock worth $578,669 in the last ninety days. Insiders own 2.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of OCLR. Bank of New York Mellon Corp boosted its stake in Oclaro by 16.1% during the 1st quarter. Bank of New York Mellon Corp now owns 907,574 shares of the semiconductor company’s stock valued at $8,912,000 after acquiring an additional 126,136 shares during the last quarter. UBS Asset Management Americas Inc. raised its holdings in shares of Oclaro by 20.9% during the first quarter. UBS Asset Management Americas Inc. now owns 57,069 shares of the semiconductor company’s stock worth $560,000 after purchasing an additional 9,870 shares during the period. Karp Capital Management Corp acquired a new stake in shares of Oclaro during the first quarter worth $203,000. Envestnet Asset Management Inc. acquired a new stake in shares of Oclaro during the first quarter worth $160,000. Finally, American International Group Inc. raised its holdings in shares of Oclaro by 19.4% during the first quarter. American International Group Inc. now owns 67,785 shares of the semiconductor company’s stock worth $666,000 after purchasing an additional 11,026 shares during the period. Hedge funds and other institutional investors own 70.18% of the company’s stock.

A number of research firms have recently weighed in on OCLR. MKM Partners reissued a “buy” rating and issued a $12.00 price objective (up previously from $10.50) on shares of Oclaro in a research report on Wednesday, July 26th. BidaskClub lowered shares of Oclaro from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Needham & Company LLC reaffirmed a “strong-buy” rating and set a $14.00 price target on shares of Oclaro in a research report on Thursday, August 3rd. Cowen and Company reaffirmed an “outperform” rating and set a $14.00 price target (up previously from $13.00) on shares of Oclaro in a research report on Thursday, August 3rd. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $12.50 price target (up previously from $12.00) on shares of Oclaro in a research report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Oclaro has a consensus rating of “Buy” and an average price target of $12.67.

Shares of Oclaro (NASDAQ:OCLR) traded up $0.18 during mid-day trading on Friday, hitting $6.22. 7,893,200 shares of the stock traded hands, compared to its average volume of 8,772,248. The stock has a market capitalization of $1,018.71, a P/E ratio of 7.74, a PEG ratio of 0.88 and a beta of 1.41. Oclaro has a fifty-two week low of $5.86 and a fifty-two week high of $11.30.

Oclaro (NASDAQ:OCLR) last announced its earnings results on Wednesday, November 1st. The semiconductor company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.02. Oclaro had a net margin of 24.31% and a return on equity of 28.11%. The business had revenue of $155.60 million during the quarter, compared to the consensus estimate of $154.51 million. During the same period in the prior year, the firm earned $0.14 earnings per share. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. sell-side analysts anticipate that Oclaro will post 0.51 earnings per share for the current fiscal year.

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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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