Oclaro, Inc. (OCLR) Short Interest Update
Oclaro, Inc. (NASDAQ:OCLR) was the recipient of a significant decline in short interest in October. As of October 13th, there was short interest totalling 44,664,528 shares, a decline of 3.4% from the September 29th total of 46,231,713 shares. Based on an average daily trading volume, of 3,773,336 shares, the short-interest ratio is presently 11.8 days. Approximately 27.3% of the company’s shares are sold short.
A number of brokerages have weighed in on OCLR. B. Riley reaffirmed a “buy” rating and set a $11.75 price target on shares of Oclaro in a research report on Thursday, August 3rd. Cowen and Company reaffirmed an “outperform” rating and set a $14.00 price target (up from $13.00) on shares of Oclaro in a research report on Thursday, August 3rd. Zacks Investment Research cut shares of Oclaro from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $12.00 price target on shares of Oclaro in a research report on Thursday, August 3rd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $12.00 price target on shares of Oclaro in a research report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $13.33.
Oclaro (NASDAQ OCLR) opened at 8.08 on Friday. Oclaro has a 52-week low of $6.92 and a 52-week high of $11.30. The firm has a market capitalization of $1.36 billion, a PE ratio of 10.49 and a beta of 1.61. The stock’s 50 day moving average is $8.62 and its 200-day moving average is $8.97.
Oclaro (NASDAQ:OCLR) last announced its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. The firm had revenue of $149.38 million during the quarter, compared to analysts’ expectations of $148.04 million. Oclaro had a return on equity of 27.63% and a net margin of 21.28%. The company’s revenue was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.11 earnings per share. Equities analysts expect that Oclaro will post $0.74 earnings per share for the current year.
In other Oclaro news, insider Michael H. Fernicola sold 12,869 shares of Oclaro stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $8.62, for a total transaction of $110,930.78. Following the transaction, the insider now directly owns 106,225 shares of the company’s stock, valued at $915,659.50. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP David Teichmann sold 20,132 shares of Oclaro stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $8.37, for a total transaction of $168,504.84. Following the transaction, the executive vice president now directly owns 422,126 shares in the company, valued at $3,533,194.62. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 85,183 shares of company stock worth $747,174. 2.00% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Shelton Capital Management bought a new stake in shares of Oclaro in the second quarter valued at approximately $117,000. LS Investment Advisors LLC bought a new stake in shares of Oclaro in the second quarter valued at approximately $122,000. Ameritas Investment Partners Inc. boosted its position in shares of Oclaro by 53.3% in the second quarter. Ameritas Investment Partners Inc. now owns 14,542 shares of the semiconductor company’s stock valued at $136,000 after acquiring an additional 5,057 shares during the period. GLG Partners LP bought a new stake in shares of Oclaro in the second quarter valued at approximately $140,000. Finally, ProShare Advisors LLC boosted its position in shares of Oclaro by 28.3% in the second quarter. ProShare Advisors LLC now owns 16,531 shares of the semiconductor company’s stock valued at $154,000 after acquiring an additional 3,650 shares during the period. 70.71% of the stock is owned by institutional investors.
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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