State Street Corp Has $24.50 Million Position in Oclaro, Inc. (OCLR)

State Street Corp increased its position in Oclaro, Inc. (NASDAQ:OCLR) by 14.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 2,494,961 shares of the semiconductor company’s stock after buying an additional 312,453 shares during the period. State Street Corp owned approximately 1.49% of Oclaro worth $24,502,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Suntrust Banks Inc. raised its position in Oclaro by 1.9% in the first quarter. Suntrust Banks Inc. now owns 19,133 shares of the semiconductor company’s stock valued at $187,000 after buying an additional 355 shares during the last quarter. California Public Employees Retirement System raised its position in Oclaro by 1.7% in the first quarter. California Public Employees Retirement System now owns 250,224 shares of the semiconductor company’s stock valued at $2,457,000 after buying an additional 4,300 shares during the last quarter. Swiss National Bank raised its position in Oclaro by 1.6% in the first quarter. Swiss National Bank now owns 273,400 shares of the semiconductor company’s stock valued at $2,685,000 after buying an additional 4,400 shares during the last quarter. Falcon Point Capital LLC raised its position in Oclaro by 27.3% in the first quarter. Falcon Point Capital LLC now owns 21,375 shares of the semiconductor company’s stock valued at $210,000 after buying an additional 4,587 shares during the last quarter. Finally, Cypress Capital Management LLC WY raised its position in Oclaro by 14.0% in the first quarter. Cypress Capital Management LLC WY now owns 53,460 shares of the semiconductor company’s stock valued at $525,000 after buying an additional 6,580 shares during the last quarter. 74.45% of the stock is currently owned by institutional investors and hedge funds.

Shares of Oclaro, Inc. (OCLR) opened at 8.32 on Friday. Oclaro, Inc. has a 52 week low of $6.92 and a 52 week high of $11.30. The firm’s 50-day moving average price is $9.35 and its 200 day moving average price is $9.29. The company has a market capitalization of $1.39 billion, a PE ratio of 10.81 and a beta of 1.55.

Oclaro (NASDAQ:OCLR) last released its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.03. The business had revenue of $149.38 million for the quarter, compared to the consensus estimate of $148.04 million. Oclaro had a net margin of 21.28% and a return on equity of 27.63%. The firm’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period last year, the firm posted $0.11 earnings per share. Equities analysts predict that Oclaro, Inc. will post $0.74 EPS for the current year.

COPYRIGHT VIOLATION WARNING: This piece of content was reported by Community Financial News and is the property of of Community Financial News. If you are accessing this piece of content on another website, it was copied illegally and republished in violation of United States & international copyright legislation. The legal version of this piece of content can be read at https://www.com-unik.info/2017/08/19/state-street-corp-buys-312453-shares-of-oclaro-inc-oclr-updated.html.

A number of research firms have recently commented on OCLR. ValuEngine upgraded Oclaro from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 3rd. Piper Jaffray Companies reaffirmed a “buy” rating and set a $12.00 price objective on shares of Oclaro in a research report on Thursday, August 3rd. B. Riley reaffirmed a “buy” rating and set a $11.75 price objective on shares of Oclaro in a research report on Tuesday, August 8th. Stifel Nicolaus reissued a “buy” rating and issued a $12.00 target price (up previously from $10.00) on shares of Oclaro in a report on Monday, July 10th. Finally, Rosenblatt Securities assumed coverage on Oclaro in a report on Wednesday, May 17th. They issued a “buy” rating and a $12.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $12.97.

In related news, EVP Lisa Paul sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $9.17, for a total transaction of $45,850.00. Following the completion of the sale, 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 filing with the SEC, which is accessible through the SEC website. Also, insider Michael H. Fernicola sold 12,869 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $8.62, for a total transaction of $110,930.78. Following the sale, the insider now owns 106,225 shares of the company’s stock, valued at $915,659.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,001 shares of company stock worth $325,286. 2.30% of the stock is currently owned by insiders.

About Oclaro

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.

Institutional Ownership by Quarter for Oclaro (NASDAQ:OCLR)

What are top analysts saying about Oclaro Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Oclaro Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit