Cambridge Investment Research Advisors Inc. reduced its holdings in shares of Oclaro Inc. (NASDAQ:OCLR) by 55.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,831 shares of the semiconductor company’s stock after selling 25,095 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Oclaro were worth $134,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the stock. BlackRock Inc. lifted its holdings in Oclaro by 2.0% during the fourth quarter. BlackRock Inc. now owns 20,857,498 shares of the semiconductor company’s stock worth $140,579,000 after acquiring an additional 416,980 shares during the period. Victory Capital Management Inc. lifted its holdings in Oclaro by 952.3% during the fourth quarter. Victory Capital Management Inc. now owns 2,807,219 shares of the semiconductor company’s stock worth $18,921,000 after acquiring an additional 2,540,457 shares during the period. Bank of New York Mellon Corp lifted its holdings in Oclaro by 12.4% during the fourth quarter. Bank of New York Mellon Corp now owns 2,503,477 shares of the semiconductor company’s stock worth $16,874,000 after acquiring an additional 276,606 shares during the period. Paradigm Capital Management Inc. NY raised its stake in shares of Oclaro by 4.8% in the fourth quarter. Paradigm Capital Management Inc. NY now owns 2,118,200 shares of the semiconductor company’s stock valued at $14,276,000 after buying an additional 96,500 shares during the period. Finally, TIAA CREF Investment Management LLC raised its stake in shares of Oclaro by 118.0% in the fourth quarter. TIAA CREF Investment Management LLC now owns 1,772,570 shares of the semiconductor company’s stock valued at $11,947,000 after buying an additional 959,593 shares during the period. Institutional investors and hedge funds own 68.49% of the company’s stock.
NASDAQ:OCLR opened at $8.18 on Friday. Oclaro Inc. has a 52-week low of $5.61 and a 52-week high of $10.93. The firm has a market cap of $1,421.54, a P/E ratio of 10.91, a P/E/G ratio of 1.49 and a beta of 0.72.
Oclaro (NASDAQ:OCLR) last released its quarterly earnings data on Monday, February 5th. The semiconductor company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. Oclaro had a return on equity of 23.17% and a net margin of 23.00%. The company had revenue of $139.30 million for the quarter, compared to analyst estimates of $138.83 million. During the same period in the previous year, the company posted $0.21 EPS. The firm’s revenue for the quarter was down 9.5% compared to the same quarter last year. research analysts anticipate that Oclaro Inc. will post 0.43 earnings per share for the current year.
In related news, EVP Lisa Paul sold 5,000 shares of the business’s stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $10.10, for a total transaction of $50,500.00. Following the sale, the executive vice president now directly owns 216,886 shares in the company, valued at approximately $2,190,548.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Greg Dougherty sold 80,000 shares of the business’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $9.79, for a total value of $783,200.00. Following the sale, the chief executive officer now owns 1,312,157 shares in the company, valued at $12,846,017.03. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 119,436 shares of company stock worth $1,088,446. 2.00% of the stock is currently owned by corporate insiders.
Several analysts have issued reports on the company. Zacks Investment Research upgraded Oclaro from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research note on Wednesday, April 11th. ValuEngine lowered Oclaro from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Northland Securities restated a “buy” rating and issued a $11.25 target price on shares of Oclaro in a research note on Tuesday. Morgan Stanley boosted their target price on Oclaro from $8.00 to $10.00 and gave the company a “hold” rating in a research note on Wednesday, April 11th. Finally, B. Riley restated a “neutral” rating and issued a $10.00 target price on shares of Oclaro in a research note on Tuesday, March 13th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $10.67.
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Oclaro, Inc designs, manufactures, and markets optical components, modules, and subsystems for the long-haul, metro, and data center markets worldwide. The company's products generate, detect, combine, and separate light signals in optical communications networks. It offers client side transceivers, including pluggable transceivers; line side transceivers; tunable laser transmitters, such as discrete lasers and co-packaged laser modulators; lithium niobate modulators to manipulate the phase or the amplitude of an optical signal; transponder modules for transmitter and receiver functions; and discrete lasers and receivers for metro and long-haul applications.
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