Oclaro Inc. (NASDAQ:OCLR) CEO Greg Dougherty sold 80,000 shares of the business’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $9.79, for a total value of $783,200.00. Following the transaction, the chief executive officer now directly owns 1,312,157 shares in the company, valued at approximately $12,846,017.03. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
OCLR stock opened at $9.23 on Friday. The company has a market capitalization of $1,602.83, a PE ratio of 13.32, a P/E/G ratio of 1.67 and a beta of 0.72. Oclaro Inc. has a twelve month low of $5.61 and a twelve month high of $10.93.
Oclaro (NASDAQ:OCLR) last issued its quarterly earnings results on Monday, February 5th. The semiconductor company reported $0.14 EPS for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.02. Oclaro had a return on equity of 23.17% and a net margin of 23.00%. The business had revenue of $139.30 million for the quarter, compared to analyst estimates of $138.83 million. During the same period last year, the company posted $0.21 earnings per share. Oclaro’s quarterly revenue was down 9.5% compared to the same quarter last year. sell-side analysts forecast that Oclaro Inc. will post 0.44 EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in OCLR. Crossmark Global Holdings Inc. purchased a new stake in Oclaro in the third quarter worth $351,000. Victory Capital Management Inc. increased its position in Oclaro by 46.2% in the third quarter. Victory Capital Management Inc. now owns 266,762 shares of the semiconductor company’s stock worth $2,302,000 after buying an additional 84,342 shares during the last quarter. New York State Teachers Retirement System increased its position in Oclaro by 26.3% in the third quarter. New York State Teachers Retirement System now owns 78,367 shares of the semiconductor company’s stock worth $676,000 after buying an additional 16,300 shares during the last quarter. State of Tennessee Treasury Department increased its position in Oclaro by 24.3% in the third quarter. State of Tennessee Treasury Department now owns 147,479 shares of the semiconductor company’s stock worth $1,273,000 after buying an additional 28,784 shares during the last quarter. Finally, American Century Companies Inc. purchased a new stake in Oclaro in the third quarter worth $874,000. 68.54% of the stock is owned by institutional investors and hedge funds.
OCLR has been the subject of a number of recent analyst reports. B. Riley reiterated a “neutral” rating and set a $10.00 target price on shares of Oclaro in a research report on Tuesday, March 13th. UBS upgraded Oclaro from a “sell” rating to a “neutral” rating and set a $10.00 price objective for the company in a research report on Wednesday, March 14th. MKM Partners upped their price objective on Oclaro and gave the stock a “buy” rating in a research report on Wednesday, March 14th. Loop Capital cut Oclaro from a “buy” rating to a “hold” rating in a report on Monday, March 12th. Finally, Northland Securities set a $9.00 target price on Oclaro and gave the stock a “buy” rating in a report on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Oclaro currently has an average rating of “Hold” and a consensus target price of $10.43.
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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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