Legato Capital Management LLC bought a new position in shares of Oclaro, Inc. (NASDAQ:OCLR) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 44,608 shares of the semiconductor company’s stock, valued at approximately $417,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cypress Capital Management LLC WY increased its position in shares of Oclaro by 1.9% in the second quarter. Cypress Capital Management LLC WY now owns 54,500 shares of the semiconductor company’s stock worth $509,000 after buying an additional 1,040 shares during the period. Rehmann Capital Advisory Group purchased a new position in shares of Oclaro during the second quarter worth approximately $167,000. Aperio Group LLC increased its stake in Oclaro by 9.3% in the second quarter. Aperio Group LLC now owns 22,646 shares of the semiconductor company’s stock valued at $212,000 after buying an additional 1,936 shares during the period. Tealwood Asset Management Inc. increased its stake in Oclaro by 0.8% in the second quarter. Tealwood Asset Management Inc. now owns 182,695 shares of the semiconductor company’s stock valued at $1,706,000 after buying an additional 1,535 shares during the period. Finally, Louisiana State Employees Retirement System bought a new stake in Oclaro during the second quarter valued at about $484,000. Hedge funds and other institutional investors own 74.45% of the company’s stock.
Oclaro, Inc. (OCLR) traded up 0.12% during midday trading on Friday, reaching $8.32. The company had a trading volume of 2,834,296 shares. The stock has a market cap of $1.39 billion, a P/E ratio of 10.81 and a beta of 1.55. The firm has a 50-day moving average of $9.35 and a 200-day moving average of $9.29. Oclaro, Inc. has a 12 month low of $6.92 and a 12 month high of $11.30.
Oclaro (NASDAQ:OCLR) last announced its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. The firm had revenue of $149.38 million for the quarter, compared to analyst estimates of $148.04 million. Oclaro had a net margin of 21.28% and a return on equity of 27.63%. The company’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.11 EPS. On average, equities analysts expect that Oclaro, Inc. will post $0.74 EPS for the current fiscal year.
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Several analysts have recently issued reports on OCLR shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $21.00 price target (down previously from $35.00) on shares of Oclaro in a research note on Thursday, July 13th. MKM Partners reiterated a “buy” rating and set a $12.00 price target (up previously from $10.50) on shares of Oclaro in a research note on Wednesday, July 26th. Zacks Investment Research downgraded Oclaro from a “hold” rating to a “sell” rating in a research note on Friday, May 5th. ValuEngine upgraded Oclaro from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 3rd. Finally, BidaskClub downgraded 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 assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $12.97.
In related news, EVP David Teichmann sold 20,132 shares of the business’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $8.37, for a total transaction of $168,504.84. Following the sale, the executive vice president now owns 422,126 shares of the company’s stock, valued at $3,533,194.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael H. Fernicola sold 12,869 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $8.62, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 38,001 shares of company stock worth $325,286 in the last three months. 2.30% of the stock is currently owned by insiders.
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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