Traders Purchase Large Volume of Oclaro Put Options (OCLR)
Oclaro, Inc. (NASDAQ:OCLR) saw some unusual options trading activity on Thursday. Traders bought 19,664 put options on the company. This is an increase of Infinity compared to the average daily volume of 0 put options.
Shares of Oclaro (OCLR) opened at $6.19 on Friday. The stock has a market capitalization of $1,044.01, a P/E ratio of 7.94, a PEG ratio of 0.72 and a beta of 1.41. Oclaro has a 12 month low of $5.86 and a 12 month high of $11.30.
Oclaro (NASDAQ:OCLR) last issued its quarterly earnings results on Wednesday, November 1st. The semiconductor company reported $0.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.02. The firm had revenue of $155.60 million for the quarter, compared to analyst estimates of $154.51 million. Oclaro had a return on equity of 28.11% and a net margin of 24.31%. The business’s revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.14 earnings per share. research analysts predict that Oclaro will post 0.65 EPS for the current fiscal year.
In other news, insider Michael H. Fernicola sold 12,869 shares of Oclaro stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $8.62, for a total transaction of $110,930.78. Following the transaction, the insider now owns 106,225 shares in the company, valued at approximately $915,659.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Greg Dougherty sold 40,000 shares of the company’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $9.12, for a total transaction of $364,800.00. Following the completion of the sale, the chief executive officer now directly owns 1,441,386 shares in the company, valued at $13,145,440.32. The disclosure for this sale can be found here. Insiders have sold 85,183 shares of company stock valued at $747,174 over the last ninety days. Insiders own 2.00% of the company’s stock.
Large investors have recently modified their holdings of the company. Shelton Capital Management acquired a new stake in shares of Oclaro in the second quarter worth approximately $117,000. Everence Capital Management Inc. acquired a new stake in shares of Oclaro in the third quarter worth approximately $110,000. LS Investment Advisors LLC acquired a new stake in shares of Oclaro in the second quarter worth approximately $122,000. Ameritas Investment Partners Inc. boosted its stake 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 worth $136,000 after acquiring an additional 5,057 shares during the last quarter. Finally, GLG Partners LP acquired a new stake in shares of Oclaro in the second quarter worth approximately $140,000. 70.69% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts recently issued reports on OCLR shares. Cowen and Company reissued a “buy” rating on shares of Oclaro in a report on Friday. ValuEngine lowered shares of Oclaro from a “buy” rating to a “hold” rating in a research note on Thursday. Craig Hallum cut Oclaro from a “buy” rating to a “hold” rating in a research note on Thursday. Needham & Company LLC cut Oclaro from a “strong-buy” rating to a “buy” rating and cut their target price for the stock from $14.00 to $9.00 in a research note on Thursday. Finally, DA Davidson reiterated a “buy” rating and set a $11.00 price target on shares of Oclaro in a research report on Thursday. One analyst has rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $12.67.
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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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