Strs Ohio boosted its holdings in Oclaro, Inc. (NASDAQ:OCLR) by 18.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 325,000 shares of the semiconductor company’s stock after acquiring an additional 50,000 shares during the quarter. Strs Ohio owned 0.19% of Oclaro worth $2,804,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. increased its stake in 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 acquiring an additional 9,177,551 shares during the period. Greenwood Capital Associates LLC increased its stake in Oclaro by 3.4% in the second quarter. Greenwood Capital Associates LLC now owns 45,494 shares of the semiconductor company’s stock valued at $425,000 after acquiring an additional 1,483 shares during the period. Pinnacle Associates Ltd. increased its stake in Oclaro by 16.2% in the second quarter. Pinnacle Associates Ltd. now owns 168,715 shares of the semiconductor company’s stock valued at $1,576,000 after acquiring an additional 23,525 shares during the period. ING Groep NV bought a new stake in Oclaro in the second quarter valued at about $13,957,000. Finally, Thompson Siegel & Walmsley LLC increased its stake in Oclaro by 59.1% in the second quarter. Thompson Siegel & Walmsley LLC now owns 1,556,047 shares of the semiconductor company’s stock valued at $14,533,000 after acquiring an additional 577,873 shares during the period. 70.69% of the stock is currently owned by institutional investors and hedge funds.
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In other Oclaro news, EVP David Teichmann sold 20,132 shares of the firm’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $8.37, for a total value of $168,504.84. Following the transaction, the executive vice president now directly owns 422,126 shares of the company’s stock, valued at approximately $3,533,194.62. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Greg Dougherty sold 40,000 shares of the firm’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $9.12, for a total transaction of $364,800.00. Following the completion of the transaction, the chief executive officer now directly owns 1,441,386 shares in the company, valued at $13,145,440.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 85,183 shares of company stock worth $747,174. Insiders own 2.00% of the company’s stock.
Oclaro, Inc. (OCLR) opened at 8.27 on Wednesday. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of 10.74 and a beta of 1.61. The firm has a 50-day moving average of $8.60 and a 200-day moving average of $8.95. Oclaro, Inc. has a 52-week low of $6.91 and a 52-week high of $11.30.
Oclaro (NASDAQ:OCLR) last released its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.16 by $0.03. Oclaro had a net margin of 21.28% and a return on equity of 27.63%. The firm had revenue of $149.38 million for the quarter, compared to analyst estimates of $148.04 million. During the same period last year, the firm earned $0.11 EPS. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. On average, equities research analysts forecast that Oclaro, Inc. will post $0.74 EPS for the current fiscal year.
A number of research firms recently weighed in on OCLR. MKM Partners reissued a “buy” rating and issued a $12.00 target price (up previously from $10.50) on shares of Oclaro in a research note on Wednesday, July 26th. BidaskClub cut shares of Oclaro from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Cantor Fitzgerald reissued an “overweight” rating and issued a $21.00 target price (down previously from $35.00) on shares of Oclaro in a research note on Thursday, July 13th. Stifel Nicolaus restated a “buy” rating and issued a $12.00 price target (up from $10.00) on shares of Oclaro in a research report on Monday, July 10th. Finally, ValuEngine lowered shares of Oclaro from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $13.33.
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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