Oclaro Target of Unusually High Options Trading (NASDAQ:OCLR)
Oclaro, Inc. (NASDAQ:OCLR) was the recipient of some unusual options trading on Monday. Stock traders acquired 8,187 call options on the stock. This is an increase of approximately 125% compared to the typical daily volume of 3,643 call options.
Several brokerages have commented on OCLR. Jefferies Group LLC cut their price objective on Oclaro from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, May 3rd. MKM Partners reaffirmed a “buy” rating and issued a $10.50 price objective (down previously from $12.00) on shares of Oclaro in a research report on Thursday, May 4th. DA Davidson began coverage on Oclaro in a research report on Thursday, June 22nd. They issued a “buy” rating and a $14.00 price objective on the stock. Stifel Nicolaus cut their price objective on Oclaro from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, May 3rd. Finally, Zacks Investment Research downgraded Oclaro from a “hold” rating to a “sell” rating in a research report on Friday, May 5th. One equities research analyst has rated the stock with a sell rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $12.87.
Shares of Oclaro (OCLR) opened at 10.04 on Thursday. Oclaro has a one year low of $5.41 and a one year high of $11.30. The firm has a 50 day moving average price of $9.71 and a 200 day moving average price of $9.31. The stock has a market capitalization of $1.68 billion, a PE ratio of 18.25 and a beta of 1.54.
Oclaro (NASDAQ:OCLR) last issued its quarterly earnings data on Tuesday, May 2nd. The semiconductor company reported $0.22 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.04. Oclaro had a return on equity of 28.78% and a net margin of 14.51%. The business had revenue of $162.18 million during the quarter, compared to analysts’ expectations of $160.06 million. During the same period in the previous year, the firm posted $0.03 earnings per share. Analysts predict that Oclaro will post $0.76 earnings per share for the current fiscal year.
In other Oclaro news, insider Michael H. Fernicola sold 5,067 shares of the company’s stock in a transaction on Friday, May 12th. The stock was sold at an average price of $8.77, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lisa Paul sold 5,000 shares of the company’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $9.17, for a total value of $45,850.00. Following the completion of the transaction, the executive vice president now directly owns 183,460 shares in the company, valued at approximately $1,682,328.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 124,031 shares of company stock worth $1,114,852. Corporate insiders own 2.30% of the company’s stock.
Large investors have recently modified their holdings of the stock. Teachers Advisors LLC boosted its stake in shares of Oclaro by 574.9% in the first quarter. Teachers Advisors LLC now owns 5,129,019 shares of the semiconductor company’s stock worth $50,367,000 after buying an additional 4,369,074 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Oclaro by 77.5% in the first quarter. Ameriprise Financial Inc. now owns 7,973,627 shares of the semiconductor company’s stock worth $78,300,000 after buying an additional 3,481,430 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Oclaro by 30.5% in the first quarter. Wellington Management Group LLP now owns 9,737,747 shares of the semiconductor company’s stock worth $95,624,000 after buying an additional 2,278,171 shares during the last quarter. Old Mutual Global Investors UK Ltd. purchased a new stake in shares of Oclaro during the first quarter worth $16,130,000. Finally, ING Groep NV purchased a new stake in shares of Oclaro during the second quarter worth $13,957,000. 70.61% of the stock is 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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