Oclaro Inc (OCLR) Short Interest Update

Oclaro Inc (NASDAQ:OCLR) saw a large decline in short interest during the month of December. As of December 15th, there was short interest totalling 33,208,273 shares, a decline of 6.3% from the November 30th total of 35,423,262 shares. Currently, 20.3% of the shares of the company are sold short. Based on an average daily volume of 6,009,814 shares, the short-interest ratio is presently 5.5 days.

In related news, insider Thomas Gordon Beck Mason sold 39,255 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $7.22, for a total value of $283,421.10. Following the transaction, the insider now owns 171,226 shares in the company, valued at approximately $1,236,251.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Lisa Paul sold 5,000 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $7.45, for a total transaction of $37,250.00. Following the completion of the sale, the executive vice president now directly owns 232,950 shares of the company’s stock, valued at approximately $1,735,477.50. The disclosure for this sale can be found here. Insiders have sold a total of 51,271 shares of company stock worth $364,240 over the last 90 days. 2.00% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its stake in Oclaro by 120.0% during the second quarter. BlackRock Inc. now owns 16,827,106 shares of the semiconductor company’s stock worth $157,166,000 after acquiring an additional 9,177,551 shares in the last quarter. Vanguard Group Inc. boosted its stake in Oclaro by 17.9% during the second quarter. Vanguard Group Inc. now owns 8,326,122 shares of the semiconductor company’s stock worth $77,766,000 after acquiring an additional 1,265,269 shares in the last quarter. State Street Corp boosted its stake in Oclaro by 54.0% during the second quarter. State Street Corp now owns 3,841,177 shares of the semiconductor company’s stock worth $35,877,000 after acquiring an additional 1,346,216 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Oclaro by 3.8% during the third quarter. Ameriprise Financial Inc. now owns 3,695,343 shares of the semiconductor company’s stock worth $31,890,000 after acquiring an additional 134,102 shares in the last quarter. Finally, Quentec Asset Management LLC boosted its stake in Oclaro by 33.9% during the second quarter. Quentec Asset Management LLC now owns 2,592,207 shares of the semiconductor company’s stock worth $24,211,000 after acquiring an additional 655,567 shares in the last quarter. 70.59% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have recently weighed in on the stock. ValuEngine raised shares of Oclaro from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Cowen reaffirmed a “buy” rating on shares of Oclaro in a report on Friday, November 3rd. Needham & Company LLC downgraded shares of Oclaro from a “strong-buy” rating to a “buy” rating and cut their price target for the stock from $14.00 to $9.00 in a report on Thursday, November 2nd. DA Davidson reaffirmed a “buy” rating and set a $11.00 price target on shares of Oclaro in a report on Thursday, November 2nd. Finally, Jefferies Group reiterated a “buy” rating and set a $12.50 price objective on shares of Oclaro in a research report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $12.67.

Shares of Oclaro (NASDAQ OCLR) opened at $6.96 on Friday. Oclaro has a 12-month low of $5.86 and a 12-month high of $11.30. The firm has a market cap of $1,170.00, a price-to-earnings ratio of 7.82, a PEG ratio of 1.04 and a beta of 1.30.

Oclaro (NASDAQ:OCLR) last posted its quarterly earnings data on Wednesday, November 1st. The semiconductor company reported $0.20 earnings per share for the quarter, topping the Thomson Reuters’ 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 company had revenue of $155.60 million during the quarter, compared to analysts’ expectations of $154.51 million. During the same period in the prior year, the company posted $0.14 earnings per share. Oclaro’s revenue for the quarter was up 14.8% compared to the same quarter last year. equities research analysts expect that Oclaro will post 0.51 EPS 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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