Oclaro, Inc. (OCLR) Trading Up 5.7%

Oclaro, Inc. (NASDAQ:OCLR) was up 5.7% on Tuesday . The stock traded as high as $6.91 and last traded at $6.86. Approximately 10,691,557 shares traded hands during mid-day trading, an increase of 23% from the average daily volume of 8,682,928 shares. The stock had previously closed at $6.49.

Several equities research analysts have recently weighed in on OCLR shares. MKM Partners reiterated a “buy” rating and issued a $12.00 price target (up from $10.50) on shares of Oclaro in a report on Wednesday, July 26th. BidaskClub downgraded Oclaro from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. B. Riley reiterated a “buy” rating and issued a $11.75 price target on shares of Oclaro in a report on Thursday, August 3rd. Piper Jaffray Companies reiterated a “buy” rating and issued a $12.00 price target on shares of Oclaro in a report on Thursday, August 3rd. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $12.50 price target (up from $12.00) on shares of Oclaro in a report on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Oclaro presently has a consensus rating of “Buy” and an average target price of $12.67.

The firm has a market cap of $1,160.00, a price-to-earnings ratio of 8.44, a P/E/G ratio of 0.96 and a beta of 1.41.

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

In other Oclaro news, CEO Greg Dougherty sold 40,000 shares of the stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $9.12, for a total transaction of $364,800.00. Following the sale, the chief executive officer now owns 1,441,386 shares of the company’s stock, valued at approximately $13,145,440.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lisa Paul sold 12,182 shares of the stock in a transaction on 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 directly owns 246,090 shares in the company, valued at approximately $2,079,460.50. The disclosure for this sale can be found here. Insiders have sold a total of 59,198 shares of company stock worth $511,307 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 made changes to their positions in the business. Alps Advisors Inc. boosted its position in Oclaro by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 59,118 shares of the semiconductor company’s stock valued at $552,000 after acquiring an additional 153 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in Oclaro by 1.2% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 44,633 shares of the semiconductor company’s stock valued at $417,000 after acquiring an additional 550 shares in the last quarter. John G Ullman & Associates Inc. boosted its position in Oclaro by 2.4% during the 2nd quarter. John G Ullman & Associates Inc. now owns 25,300 shares of the semiconductor company’s stock valued at $236,000 after acquiring an additional 600 shares in the last quarter. Dana Investment Advisors Inc. boosted its position in Oclaro by 0.5% during the 2nd quarter. Dana Investment Advisors Inc. now owns 247,463 shares of the semiconductor company’s stock valued at $2,311,000 after acquiring an additional 1,327 shares in the last quarter. Finally, Greenwood Capital Associates LLC boosted its position in Oclaro by 3.4% during the 2nd quarter. Greenwood Capital Associates LLC now owns 45,494 shares of the semiconductor company’s stock valued at $425,000 after acquiring an additional 1,483 shares in the last quarter. 70.29% 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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