Traders Purchase Large Volume of Oclaro Put Options (OCLR)
Oclaro, Inc. (NASDAQ:OCLR) was the target of some unusual options trading on Friday. Stock traders acquired 902 put options on the stock. This represents an increase of approximately 219% compared to the average volume of 283 put options.
Shares of Oclaro (NASDAQ:OCLR) traded up 3.26% on Friday, hitting $8.87. 5,985,203 shares of the company were exchanged. Oclaro has a 52-week low of $4.48 and a 52-week high of $11.30. The firm’s 50-day moving average is $8.66 and its 200-day moving average is $9.08. The stock has a market capitalization of $1.48 billion, a PE ratio of 16.13 and a beta of 1.80.
Oclaro (NASDAQ:OCLR) last announced its quarterly earnings results on Tuesday, May 2nd. The semiconductor company reported $0.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.04. The business had revenue of $162.18 million during the quarter, compared to the consensus estimate of $160.06 million. Oclaro had a net margin of 8.83% and a return on equity of 23.12%. During the same quarter last year, the firm posted $0.03 EPS. Equities research analysts predict that Oclaro will post $0.76 earnings per share for the current year.
In other Oclaro news, insider Michael H. Fernicola sold 5,067 shares of the business’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $8.77, for a total transaction of $44,437.59. Following the transaction, the insider now owns 61,292 shares of the company’s stock, valued at approximately $537,530.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas Gordon Beck Mason sold 62,563 shares of the business’s stock in a transaction that occurred on Friday, March 17th. The stock was sold at an average price of $9.24, for a total value of $578,082.12. Following the transaction, the insider now directly owns 182,426 shares in the company, valued at approximately $1,685,616.24. The disclosure for this sale can be found here. Insiders have sold a total of 181,594 shares of company stock worth $1,647,085 in the last quarter. 2.30% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Monashee Investment Management LLC bought a new position in shares of Oclaro during the third quarter worth about $3,420,000. BlackRock Investment Management LLC increased its position in shares of Oclaro by 12.7% in the third quarter. BlackRock Investment Management LLC now owns 434,128 shares of the semiconductor company’s stock worth $3,712,000 after buying an additional 48,834 shares in the last quarter. Suntrust Banks Inc. bought a new position in shares of Oclaro during the third quarter worth about $129,000. Zweig DiMenna Associates LLC bought a new position in shares of Oclaro during the third quarter worth about $1,796,000. Finally, Two Sigma Advisers LP increased its position in shares of Oclaro by 58.3% in the third quarter. Two Sigma Advisers LP now owns 601,652 shares of the semiconductor company’s stock worth $5,144,000 after buying an additional 221,700 shares in the last quarter. Institutional investors and hedge funds own 63.47% of the company’s stock.
Several research analysts have recently commented on the company. Jefferies Group LLC reduced their target price on Oclaro from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, May 3rd. MKM Partners restated a “buy” rating and issued a $10.50 price target (down from $12.00) on shares of Oclaro in a research note on Thursday, May 4th. Needham & Company LLC restated a “strong-buy” rating and issued a $14.00 price target on shares of Oclaro in a research note on Wednesday, March 15th. Zacks Investment Research downgraded Oclaro from a “buy” rating to a “hold” rating in a research report on Wednesday, March 22nd. Finally, Stifel Nicolaus cut their target price on Oclaro from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Wednesday, May 3rd. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. Oclaro currently has an average rating of “Buy” and a consensus target price of $11.68.
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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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