Dynamic Technology Lab Private Ltd purchased a new stake in shares of Oclaro, Inc. (NASDAQ:OCLR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 33,769 shares of the semiconductor company’s stock, valued at approximately $315,000.
Several other hedge funds have also recently made changes to their positions in OCLR. Bank of New York Mellon Corp boosted its position in shares of Oclaro by 16.1% during the 1st quarter. Bank of New York Mellon Corp now owns 907,574 shares of the semiconductor company’s stock valued at $8,912,000 after acquiring an additional 126,136 shares during the last quarter. UBS Asset Management Americas Inc. boosted its position in shares of Oclaro by 20.9% during the 1st quarter. UBS Asset Management Americas Inc. now owns 57,069 shares of the semiconductor company’s stock valued at $560,000 after acquiring an additional 9,870 shares during the last quarter. Karp Capital Management Corp acquired a new position in shares of Oclaro during the 1st quarter valued at about $203,000. Envestnet Asset Management Inc. acquired a new position in shares of Oclaro during the 1st quarter valued at about $160,000. Finally, American International Group Inc. boosted its position in shares of Oclaro by 19.4% during the 1st quarter. American International Group Inc. now owns 67,785 shares of the semiconductor company’s stock valued at $666,000 after acquiring an additional 11,026 shares during the last quarter. 70.71% of the stock is currently owned by hedge funds and other institutional investors.
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Several research analysts have recently weighed in on the stock. B. Riley reissued a “buy” rating and set a $11.75 price target on shares of Oclaro in a research report on Tuesday, August 8th. ValuEngine cut shares of Oclaro from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 8th. Northland Securities reissued a “buy” rating and set a $12.75 price target on shares of Oclaro in a research report on Friday, September 15th. Jefferies Group LLC reissued a “buy” rating and set a $12.50 price target (up previously from $12.00) on shares of Oclaro in a research report on Thursday, August 3rd. Finally, MKM Partners reissued a “buy” rating and set a $12.00 price target (up previously from $10.50) on shares of Oclaro in a research report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. Oclaro currently has a consensus rating of “Buy” and an average target price of $13.33.
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 value of $110,930.78. Following the transaction, the insider now directly owns 106,225 shares of the company’s stock, valued at approximately $915,659.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lisa Paul sold 12,182 shares of Oclaro stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $8.45, for a total value of $102,937.90. Following the completion of the transaction, the executive vice president now directly owns 246,090 shares in the company, valued at $2,079,460.50. The disclosure for this sale can be found here. Insiders sold a total of 85,183 shares of company stock worth $747,174 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.
Shares of Oclaro, Inc. (OCLR) opened at 8.10 on Friday. The company has a 50-day moving average of $8.61 and a 200 day moving average of $8.95. Oclaro, Inc. has a one year low of $6.92 and a one year high of $11.30. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of 10.52 and a beta of 1.61.
Oclaro (NASDAQ:OCLR) last released its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.03. The business had revenue of $149.38 million for the quarter, compared to analyst estimates of $148.04 million. Oclaro had a return on equity of 27.63% and a net margin of 21.28%. The company’s revenue was up 19.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.11 EPS. Equities research analysts forecast that Oclaro, Inc. will post $0.74 earnings per share for the current fiscal year.
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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