Tealwood Asset Management Inc. increased its position in Oclaro, Inc. (NASDAQ:OCLR) by 0.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 182,695 shares of the semiconductor company’s stock after buying an additional 1,535 shares during the period. Tealwood Asset Management Inc. owned 0.11% of Oclaro worth $1,706,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Park Avenue Securities LLC purchased a new position in shares of Oclaro during the first quarter worth approximately $104,000. FormulaFolio Investments LLC bought a new stake in shares of Oclaro during the first quarter valued at approximately $116,000. National Asset Management Inc. boosted its stake in shares of Oclaro by 15.2% in the first quarter. National Asset Management Inc. now owns 12,144 shares of the semiconductor company’s stock valued at $121,000 after buying an additional 1,601 shares during the period. LS Investment Advisors LLC purchased a new position in shares of Oclaro during the second quarter valued at approximately $122,000. Finally, Envestnet Asset Management Inc. bought a new position in Oclaro during the first quarter worth about $160,000. 72.79% of the stock is owned by institutional investors and hedge funds.
Shares of Oclaro, Inc. (OCLR) traded up 0.84% during mid-day trading on Friday, hitting $8.39. The stock had a trading volume of 7,332,942 shares. The stock has a 50 day moving average price of $9.54 and a 200-day moving average price of $9.34. Oclaro, Inc. has a 52-week low of $6.27 and a 52-week high of $11.30. The company has a market cap of $1.40 billion, a PE ratio of 10.90 and a beta of 1.55.
Oclaro (NASDAQ:OCLR) last released its quarterly earnings data 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 return on equity of 27.63% and a net margin of 21.28%. The company had revenue of $149.38 million for the quarter, compared to analyst estimates of $148.04 million. During the same period last year, the company posted $0.11 earnings per share. The firm’s revenue was up 19.3% compared to the same quarter last year. On average, equities analysts expect that Oclaro, Inc. will post $0.74 earnings per share for the current fiscal year.
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A number of equities research analysts have weighed in on OCLR shares. Zacks Investment Research lowered shares of Oclaro from a “hold” rating to a “sell” rating in a report on Wednesday. B. Riley reiterated a “buy” rating and set a $11.75 target price on shares of Oclaro in a research report on Tuesday, August 8th. Cowen and Company restated an “outperform” rating and set a $14.00 price target (up previously from $13.00) on shares of Oclaro in a research report on Thursday, August 3rd. Needham & Company LLC reiterated a “strong-buy” rating and set a $14.00 target price on shares of Oclaro in a research report on Thursday, August 3rd. Finally, Jefferies Group LLC restated a “buy” rating and issued a $12.50 price objective (up from $12.00) on shares of Oclaro in a research report on Thursday, August 3rd. Two 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 stock presently has an average rating of “Buy” and an average target price of $12.97.
In other news, EVP Lisa Paul sold 5,000 shares of the business’s stock in a transaction that occurred on 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Thomas Gordon Beck Mason sold 32,352 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $9.12, for a total value of $295,050.24. Following the sale, the insider now directly owns 144,125 shares in the company, valued at approximately $1,314,420. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by company insiders.
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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