Oclaro, Inc. (OCLR) Short Interest Update

Oclaro, Inc. (NASDAQ:OCLR) was the target of a significant increase in short interest in June. As of June 15th, there was short interest totalling 44,559,238 shares, an increase of 4.2% from the May 31st total of 42,763,896 shares. Based on an average daily trading volume, of 14,992,017 shares, the days-to-cover ratio is currently 3.0 days. Currently, 27.3% of the shares of the stock are sold short.

OCLR has been the subject of a number of research reports. ValuEngine upgraded Oclaro from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 3rd. Stifel Nicolaus reiterated a “buy” rating and issued a $12.00 price objective (up from $10.00) on shares of Oclaro in a report on Monday, July 10th. Rosenblatt Securities initiated coverage on Oclaro in a report on Wednesday, May 17th. They issued a “buy” rating and a $12.00 price objective for the company. B. Riley reiterated a “buy” rating and issued a $12.00 price objective on shares of Oclaro in a report on Monday, May 8th. Finally, Zacks Investment Research cut Oclaro from a “buy” rating to a “hold” rating in a report on Thursday, April 6th. One 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 company. The company has an average rating of “Buy” and an average price target of $12.87.

In related news, EVP Lisa Paul sold 5,000 shares of the business’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $9.17, for a total transaction 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 $1,682,328.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Michael H. Fernicola sold 5,067 shares of the business’s stock in a transaction dated 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 $537,530.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 124,031 shares of company stock valued at $1,114,852. 2.30% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Essex Investment Management Co. LLC raised its position in Oclaro by 12.0% in the second quarter. Essex Investment Management Co. LLC now owns 350,236 shares of the semiconductor company’s stock valued at $3,271,000 after buying an additional 37,460 shares in the last quarter. Texas Permanent School Fund acquired a new position in shares of Oclaro during the second quarter valued at about $867,000. Emerald Mutual Fund Advisers Trust raised its position in shares of Oclaro by 56.3% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 1,492,134 shares of the semiconductor company’s stock valued at $13,937,000 after buying an additional 537,670 shares during the period. Emerald Advisers Inc. PA raised its position in shares of Oclaro by 39.5% in the second quarter. Emerald Advisers Inc. PA now owns 1,858,334 shares of the semiconductor company’s stock valued at $17,357,000 after buying an additional 526,448 shares during the period. Finally, State of New Jersey Common Pension Fund D acquired a new position in shares of Oclaro during the second quarter valued at about $9,340,000. Institutional investors own 70.61% of the company’s stock.

Shares of Oclaro (OCLR) traded up 1.13% during midday trading on Friday, reaching $9.86. The company had a trading volume of 4,366,263 shares. The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of 17.93 and a beta of 1.54. The stock has a 50-day moving average of $9.68 and a 200 day moving average of $9.32. Oclaro has a 52 week low of $5.46 and a 52 week high of $11.30.

Oclaro (NASDAQ:OCLR) last released its quarterly earnings results on Tuesday, May 2nd. The semiconductor company reported $0.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.04. The company had revenue of $162.18 million during the quarter, compared to analyst estimates of $160.06 million. Oclaro had a return on equity of 28.78% and a net margin of 14.51%. During the same quarter last year, the business posted $0.03 earnings per share. On average, analysts anticipate that Oclaro will post $0.76 earnings per share for the current year.

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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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