Oclaro Inc. (NASDAQ:OCLR) EVP Lisa Paul sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 15th. The stock was sold at an average price of $10.10, for a total transaction of $50,500.00. Following the transaction, the executive vice president now owns 216,886 shares in the company, valued at $2,190,548.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
NASDAQ OCLR opened at $9.23 on Monday. The stock has a market capitalization of $1,563.86, a PE ratio of 12.31, a PEG ratio of 1.63 and a beta of 0.72. Oclaro Inc. has a 1-year low of $5.61 and a 1-year high of $10.93.
Oclaro (NASDAQ:OCLR) last released its quarterly earnings data on Monday, February 5th. The semiconductor company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. The business had revenue of $139.30 million for the quarter, compared to analyst estimates of $138.83 million. Oclaro had a return on equity of 23.17% and a net margin of 23.00%. The company’s revenue was down 9.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.21 EPS. sell-side analysts anticipate that Oclaro Inc. will post 0.44 earnings per share for the current fiscal year.
Several brokerages recently weighed in on OCLR. B. Riley reaffirmed a “neutral” rating and set a $10.00 price target on shares of Oclaro in a report on Tuesday, March 13th. UBS raised Oclaro from a “sell” rating to a “neutral” rating and set a $10.00 target price for the company in a report on Wednesday, March 14th. Loop Capital downgraded Oclaro from a “buy” rating to a “hold” rating in a report on Monday, March 12th. Northland Securities set a $9.00 target price on Oclaro and gave the company a “buy” rating in a report on Monday, January 29th. Finally, Stifel Nicolaus downgraded Oclaro from a “buy” rating to a “hold” rating in a report on Monday, March 12th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $10.43.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SeaCrest Wealth Management LLC acquired a new position in Oclaro during the 4th quarter worth approximately $119,000. Sei Investments Co. lifted its position in Oclaro by 150.9% during the 3rd quarter. Sei Investments Co. now owns 17,105 shares of the semiconductor company’s stock worth $147,000 after acquiring an additional 10,288 shares in the last quarter. Meadow Creek Investment Management LLC acquired a new position in Oclaro during the 4th quarter worth approximately $147,000. Xact Kapitalforvaltning AB acquired a new position in Oclaro during the 4th quarter worth approximately $156,000. Finally, Koch Industries Inc. acquired a new position in Oclaro during the 4th quarter worth approximately $199,000. 68.54% of the stock is currently owned by institutional investors and hedge funds.
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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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