Dimensional Fund Advisors LP boosted its stake in Oclaro, Inc. (NASDAQ:OCLR) by 8.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,475,371 shares of the semiconductor company’s stock after buying an additional 191,070 shares during the period. Dimensional Fund Advisors LP owned approximately 1.49% of Oclaro worth $24,309,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Park Avenue Securities LLC purchased a new position in Oclaro during the first quarter valued at $104,000. FormulaFolio Investments LLC purchased a new position in Oclaro during the first quarter valued at $116,000. Envestnet Asset Management Inc. purchased a new position in Oclaro during the first quarter valued at $160,000. M&T Bank Corp purchased a new position in Oclaro during the first quarter valued at $177,000. Finally, Bank Hapoalim BM purchased a new position in Oclaro during the first quarter valued at $180,000. 74.45% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Oclaro, Inc. (NASDAQ:OCLR) opened at 8.32 on Friday. The firm’s 50-day moving average is $9.35 and its 200 day moving average is $9.29. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 10.81 and a beta of 1.55. Oclaro, Inc. has a 52-week low of $6.92 and a 52-week high of $11.30.
Oclaro (NASDAQ:OCLR) last posted its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $148.04 million. During the same period in the previous year, the firm posted $0.11 EPS. The business’s quarterly revenue was up 19.3% on a year-over-year basis. Equities analysts expect that Oclaro, Inc. will post $0.74 EPS for the current year.
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Several research firms have recently weighed in on OCLR. B. Riley reaffirmed a “buy” rating and issued a $12.00 price target on shares of Oclaro in a report on Wednesday, May 3rd. Zacks Investment Research cut shares of Oclaro from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Cowen and Company reaffirmed an “outperform” rating and issued a $14.00 price target (up previously from $13.00) on shares of Oclaro in a report on Thursday, August 3rd. Piper Jaffray Companies reissued a “buy” rating and issued a $12.00 target price on shares of Oclaro in a research note on Thursday, August 3rd. Finally, Jefferies Group LLC reduced their target price on Oclaro from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday, May 3rd. Two investment analysts have rated the stock with a sell rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $12.97.
In other news, insider Michael H. Fernicola sold 12,869 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $8.62, for a total value of $110,930.78. Following the sale, the insider now directly owns 106,225 shares in the company, valued at approximately $915,659.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP David Teichmann sold 20,132 shares of the business’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $8.37, for a total transaction of $168,504.84. Following the completion of the sale, the executive vice president now owns 422,126 shares in the company, valued at $3,533,194.62. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,001 shares of company stock worth $325,286. Insiders own 2.30% of the company’s stock.
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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