Oclaro, Inc. (OCLR) Insider Michael H. Fernicola Sells 12,869 Shares
Oclaro, Inc. (NASDAQ:OCLR) insider Michael H. Fernicola sold 12,869 shares of the 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 sale, the insider now directly owns 106,225 shares of the company’s stock, valued at $915,659.50. The sale was disclosed in a document filed with the SEC, which is available through this link.
Shares of Oclaro, Inc. (OCLR) traded up 4.89% during mid-day trading on Monday, reaching $8.80. The company had a trading volume of 5,820,357 shares. Oclaro, Inc. has a 1-year low of $6.90 and a 1-year high of $11.30. The company has a market capitalization of $1.47 billion, a PE ratio of 11.43 and a beta of 1.55. The stock’s 50-day moving average price is $9.50 and its 200 day moving average price is $9.32.
Oclaro (NASDAQ:OCLR) last issued its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.03. The company 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 firm’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.11 EPS. Equities analysts expect that Oclaro, Inc. will post $0.74 EPS for the current year.
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A number of research firms recently weighed in on OCLR. Jefferies Group LLC cut their target price on shares of Oclaro from $14.00 to $12.00 and set a “buy” rating for the company in a report on Wednesday, May 3rd. MKM Partners reissued a “buy” rating and issued a $10.50 target price (down from $12.00) on shares of Oclaro in a report on Thursday, May 4th. DA Davidson began coverage on shares of Oclaro in a report on Thursday, June 22nd. They issued a “buy” rating and a $14.00 target price for the company. Cowen and Company reissued an “outperform” rating and issued a $14.00 target price (up from $13.00) on shares of Oclaro in a report on Thursday, August 3rd. Finally, Stifel Nicolaus cut their target price on shares of Oclaro from $11.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, May 3rd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $12.97.
Hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its stake in shares of Oclaro by 120.0% in the second quarter. BlackRock Inc. now owns 16,827,106 shares of the semiconductor company’s stock valued at $157,166,000 after buying an additional 9,177,551 shares during the last quarter. 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 valued at $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 valued at $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 valued at $95,624,000 after buying an additional 2,278,171 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. bought a new stake in shares of Oclaro during the first quarter valued at about $16,130,000. Institutional investors own 74.45% of the company’s stock.
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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