Insider Selling: Oclaro Inc (OCLR) EVP Sells 24,962 Shares of Stock

Oclaro Inc (NASDAQ:OCLR) EVP David Teichmann sold 24,962 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $6.41, for a total transaction of $160,006.42. Following the transaction, the executive vice president now owns 349,305 shares in the company, valued at approximately $2,239,045.05. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Oclaro Inc (NASDAQ:OCLR) traded up $0.19 during trading hours on Tuesday, reaching $6.60. 2,159,609 shares of the company were exchanged, compared to its average volume of 5,530,000. Oclaro Inc has a 1-year low of $5.61 and a 1-year high of $11.30. The firm has a market cap of $1,110.00, a price-to-earnings ratio of 8.05, a PEG ratio of 1.17 and a beta of 1.14.

Oclaro (NASDAQ:OCLR) last posted its earnings results on Monday, February 5th. The semiconductor company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. Oclaro had a net margin of 23.00% and a return on equity of 23.17%. The business had revenue of $139.30 million for the quarter, compared to analyst estimates of $138.83 million. During the same period last year, the business posted $0.21 EPS. Oclaro’s revenue was down 9.5% compared to the same quarter last year. equities research analysts forecast that Oclaro Inc will post 0.44 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of OCLR. Nationwide Fund Advisors grew its stake in Oclaro by 20.1% in the 2nd quarter. Nationwide Fund Advisors now owns 140,928 shares of the semiconductor company’s stock valued at $1,316,000 after buying an additional 23,611 shares during the last quarter. Amalgamated Bank boosted its holdings in Oclaro by 64.6% in the 2nd quarter. Amalgamated Bank now owns 22,652 shares of the semiconductor company’s stock valued at $212,000 after purchasing an additional 8,889 shares during the period. ProShare Advisors LLC boosted its holdings in Oclaro by 28.3% in the 2nd quarter. ProShare Advisors LLC now owns 16,531 shares of the semiconductor company’s stock valued at $154,000 after purchasing an additional 3,650 shares during the period. New York State Common Retirement Fund boosted its holdings in Oclaro by 18.3% in the 2nd quarter. New York State Common Retirement Fund now owns 177,100 shares of the semiconductor company’s stock valued at $1,654,000 after purchasing an additional 27,409 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its holdings in Oclaro by 42.6% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 81,395 shares of the semiconductor company’s stock valued at $760,000 after purchasing an additional 24,326 shares during the period. Institutional investors and hedge funds own 70.76% of the company’s stock.

Several research analysts have recently commented on OCLR shares. Loop Capital started coverage on shares of Oclaro in a research note on Monday, January 29th. They set a “buy” rating and a $10.00 price target on the stock. Stifel Nicolaus dropped their price target on shares of Oclaro from $10.00 to $8.50 and set a “buy” rating on the stock in a research note on Wednesday, January 24th. ValuEngine lowered shares of Oclaro from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Needham & Company LLC lowered shares of Oclaro from a “buy” rating to a “hold” rating in a research note on Monday, December 18th. Finally, Jefferies Group restated a “buy” rating and set a $12.50 price target on shares of Oclaro in a research note on Wednesday, November 1st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Oclaro presently has an average rating of “Buy” and a consensus target price of $10.18.

ILLEGAL ACTIVITY NOTICE: “Insider Selling: Oclaro Inc (OCLR) EVP Sells 24,962 Shares of Stock” was published by American Banking News and is the property of of American Banking News. If you are reading this piece on another publication, it was copied illegally and republished in violation of U.S. & international trademark and copyright legislation. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2018/02/13/insider-selling-oclaro-inc-oclr-evp-sells-24962-shares-of-stock.html.

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.

Insider Buying and Selling by Quarter for Oclaro (NASDAQ:OCLR)

Receive News & Ratings for Oclaro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oclaro and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply