Oclaro Inc. (NASDAQ:OCLR) EVP David Teichmann sold 9,474 shares of the business’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $10.00, for a total value of $94,740.00. Following the completion of the transaction, the executive vice president now owns 314,869 shares in the company, valued at $3,148,690. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
David Teichmann also recently made the following trade(s):
- On Tuesday, February 13th, David Teichmann sold 24,962 shares of Oclaro stock. The shares were sold at an average price of $6.41, for a total value of $160,006.42.
Shares of OCLR stock opened at $9.23 on Friday. Oclaro Inc. has a 1 year low of $5.61 and a 1 year high of $10.93. The company has a market cap of $1,602.83, a price-to-earnings ratio of 12.31, a P/E/G ratio of 1.67 and a beta of 0.72.
Oclaro (NASDAQ:OCLR) last issued its quarterly earnings data on Monday, February 5th. The semiconductor company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $138.83 million. During the same period in the prior year, the business posted $0.21 earnings per share. The company’s quarterly revenue was down 9.5% compared to the same quarter last year. equities research analysts predict that Oclaro Inc. will post 0.44 EPS for the current year.
OCLR has been the topic of several research analyst reports. Loop Capital initiated coverage on Oclaro in a research report on Monday, January 29th. They issued a “buy” rating and a $10.00 price objective on the stock. Stifel Nicolaus lowered their price objective on Oclaro from $10.00 to $8.50 and set a “buy” rating on the stock in a research report on Wednesday, January 24th. ValuEngine downgraded Oclaro from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Morgan Stanley assumed coverage on Oclaro in a research report on Friday, March 9th. They issued an “equal weight” rating and a $8.00 target price on the stock. Finally, UBS upgraded Oclaro from a “sell” rating to a “neutral” rating and set a $10.00 target price on the stock in a research report on Wednesday, March 14th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $10.43.
A number of hedge funds have recently modified their holdings of OCLR. Victory Capital Management Inc. raised its position in Oclaro by 952.3% during the fourth quarter. Victory Capital Management Inc. now owns 2,807,219 shares of the semiconductor company’s stock valued at $18,921,000 after purchasing an additional 2,540,457 shares during the period. Divisar Capital Management LLC bought a new position in shares of Oclaro during the fourth quarter valued at approximately $9,268,000. AO Asset Management LP bought a new position in shares of Oclaro during the fourth quarter valued at approximately $6,674,000. TIAA CREF Investment Management LLC grew its stake in shares of Oclaro by 118.0% during the fourth quarter. TIAA CREF Investment Management LLC now owns 1,772,570 shares of the semiconductor company’s stock valued at $11,947,000 after buying an additional 959,593 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC grew its stake in shares of Oclaro by 54.7% during the third quarter. Thompson Siegel & Walmsley LLC now owns 2,406,428 shares of the semiconductor company’s stock valued at $20,767,000 after buying an additional 850,381 shares during the last quarter. Institutional investors and hedge funds own 68.54% of the company’s stock.
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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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