Oclaro Inc (NASDAQ:OCLR) CEO Greg Dougherty sold 80,000 shares of the company’s stock in a transaction on Monday, March 12th. The stock was sold at an average price of $9.79, for a total transaction of $783,200.00. Following the completion of the transaction, the chief executive officer now directly owns 1,312,157 shares in the company, valued at $12,846,017.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Oclaro Inc (NASDAQ OCLR) traded up $0.12 during mid-day trading on Wednesday, reaching $10.16. 16,725,281 shares of the company’s stock were exchanged, compared to its average volume of 7,860,000. Oclaro Inc has a one year low of $5.61 and a one year high of $10.93. The company has a market capitalization of $1,720.00, a PE ratio of 12.39, a price-to-earnings-growth ratio of 1.76 and a beta of 0.91.
Oclaro (NASDAQ:OCLR) last released its quarterly earnings results on Monday, February 5th. The semiconductor company reported $0.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.02. Oclaro had a net margin of 23.00% and a return on equity of 23.17%. The company had revenue of $139.30 million during the quarter, compared to analysts’ expectations of $138.83 million. During the same period in the prior year, the company earned $0.21 earnings per share. The business’s quarterly revenue was down 9.5% compared to the same quarter last year. research analysts predict that Oclaro Inc will post 0.44 earnings per share for the current year.
A number of hedge funds have recently added to or reduced their stakes in the business. Swiss National Bank boosted its holdings in Oclaro by 3.2% during the fourth quarter. Swiss National Bank now owns 282,100 shares of the semiconductor company’s stock valued at $1,901,000 after acquiring an additional 8,700 shares during the period. Piedmont Investment Advisors LLC boosted its holdings in Oclaro by 33.7% during the third quarter. Piedmont Investment Advisors LLC now owns 36,740 shares of the semiconductor company’s stock valued at $317,000 after acquiring an additional 9,251 shares during the period. MML Investors Services LLC boosted its holdings in Oclaro by 46.6% during the fourth quarter. MML Investors Services LLC now owns 31,331 shares of the semiconductor company’s stock valued at $211,000 after acquiring an additional 9,958 shares during the period. Sei Investments Co. boosted its holdings in Oclaro by 150.9% during the third quarter. Sei Investments Co. now owns 17,105 shares of the semiconductor company’s stock valued at $147,000 after acquiring an additional 10,288 shares during the period. Finally, OppenheimerFunds Inc. boosted its holdings in Oclaro by 21.7% during the fourth quarter. OppenheimerFunds Inc. now owns 59,322 shares of the semiconductor company’s stock valued at $400,000 after acquiring an additional 10,589 shares during the period. Institutional investors own 68.75% of the company’s stock.
OCLR has been the topic of several analyst reports. ValuEngine raised shares of Oclaro from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Cowen reissued a “buy” rating and set a $8.00 target price on shares of Oclaro in a research report on Tuesday, February 6th. Stifel Nicolaus lowered their target price on shares of Oclaro from $8.50 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, February 6th. B. Riley increased their target price on shares of Oclaro from $8.25 to $8.50 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Finally, DA Davidson lowered their target price on shares of Oclaro from $11.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $10.43.
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Oclaro Company Profile
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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