John G Ullman & Associates Inc. increased its stake in Oclaro, Inc. (NASDAQ:OCLR) by 2.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,300 shares of the semiconductor company’s stock after buying an additional 600 shares during the period. John G Ullman & Associates Inc.’s holdings in Oclaro were worth $236,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Park Avenue Securities LLC bought a new position in shares of Oclaro during the first quarter valued at approximately $104,000. FormulaFolio Investments LLC bought a new position in shares of Oclaro during the first quarter valued at approximately $116,000. National Asset Management Inc. raised its position 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 acquired a new position in shares of Oclaro during the second quarter valued at about $122,000. Finally, DORCHESTER WEALTH MANAGEMENT Co acquired a new position in shares of Oclaro during the second quarter valued at about $159,000. Institutional investors and hedge funds own 74.45% of the company’s stock.
Shares of Oclaro, Inc. (OCLR) opened at 8.32 on Friday. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of 10.81 and a beta of 1.55. The firm’s 50-day moving average is $9.35 and its 200-day moving average is $9.29. Oclaro, Inc. has a 1-year low of $6.92 and a 1-year high of $11.30.
Oclaro (NASDAQ:OCLR) last announced its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.19 EPS for the quarter, topping the Zacks’ 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 business had revenue of $149.38 million during the quarter, compared to the consensus estimate of $148.04 million. During the same period in the previous year, the company posted $0.11 earnings per share. The firm’s revenue was up 19.3% on a year-over-year basis. Analysts forecast that Oclaro, Inc. will post $0.74 earnings per share for the current fiscal year.
OCLR has been the subject of several research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $21.00 price target (down from $35.00) on shares of Oclaro in a research note on Thursday, July 13th. MKM Partners reiterated a “buy” rating and issued a $12.00 price target (up from $10.50) on shares of Oclaro in a research note on Wednesday, July 26th. Zacks Investment Research lowered shares of Oclaro from a “hold” rating to a “sell” rating in a research note on Friday, May 5th. ValuEngine upgraded shares of Oclaro from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 3rd. Finally, BidaskClub lowered shares of Oclaro from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Two analysts have rated the stock with a sell rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Oclaro presently has a consensus rating of “Buy” and a consensus price target of $12.97.
In related news, EVP David Teichmann sold 20,132 shares of the stock in a transaction that occurred on 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 owns 422,126 shares in the company, valued at approximately $3,533,194.62. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael H. Fernicola sold 12,869 shares of the company’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 value of $110,930.78. Following the completion of the sale, the insider now owns 106,225 shares in the company, valued at approximately $915,659.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,001 shares of company stock worth $325,286. Corporate 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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