Victory Capital Management Inc. reduced its stake in shares of Oclaro Inc. (NASDAQ:OCLR) by 41.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 118,594 shares of the company’s stock after selling 83,238 shares during the period. Victory Capital Management Inc. owned about 0.11% of Oclaro worth $579,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Bayesian Capital Management LP acquired a new position in Oclaro during the first quarter valued at approximately $107,000. Peconic Partners LLC raised its position in Oclaro by 100.0% in the first quarter. Peconic Partners LLC now owns 20,000 shares of the company’s stock valued at $108,000 after buying an additional 10,000 shares during the period. Integral Derivatives LLC raised its position in Oclaro by 1.6% in the second quarter. Integral Derivatives LLC now owns 27,318 shares of the company’s stock valued at $133,000 after buying an additional 418 shares during the period. Algert Global LLC acquired a new position in Oclaro during the first quarter valued at approximately $150,000. Finally, UBS Asset Management Americas Inc. acquired a new position in Oclaro during the second quarter valued at approximately $225,000. 62.49% of the stock is owned by institutional investors and hedge funds.
Oclaro Inc. (NASDAQ:OCLR) traded down 0.058% during mid-day trading on Friday, hitting $8.615. 2,100,512 shares of the company were exchanged. The company has a 50 day moving average of $8.08 and a 200 day moving average of $5.84. The stock has a market cap of $1.27 billion, a P/E ratio of 110.449 and a beta of 1.86. Oclaro Inc. has a 12-month low of $2.28 and a 12-month high of $9.34.
Oclaro (NASDAQ:OCLR) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.05. The firm had revenue of $125.20 million for the quarter, compared to analyst estimates of $119.41 million. Oclaro had a net margin of 2.10% and a return on equity of 6.24%. The business’s revenue for the quarter was up 52.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.06) EPS. On average, equities research analysts expect that Oclaro Inc. will post $0.39 earnings per share for the current fiscal year.
Several brokerages recently weighed in on OCLR. MKM Partners reiterated a “buy” rating on shares of Oclaro in a research report on Monday, June 6th. Zacks Investment Research upgraded shares of Oclaro from a “hold” rating to a “strong-buy” rating and set a $8.50 price objective on the stock in a research report on Wednesday, August 17th. Needham & Company LLC reiterated a “strong-buy” rating and issued a $8.00 price objective (up from $7.50) on shares of Oclaro in a research report on Wednesday, August 3rd. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $9.00 price objective on shares of Oclaro in a research report on Wednesday, September 7th. Finally, Cowen and Company began coverage on shares of Oclaro in a research report on Monday, August 8th. They issued an “outperform” rating and a $9.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $7.95.
In other news, EVP Lisa Paul sold 9,363 shares of the company’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $7.69, for a total value of $72,001.47. Following the sale, the executive vice president now owns 218,264 shares of the company’s stock, valued at approximately $1,678,450.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Adam Carter sold 19,506 shares of the company’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $6.00, for a total transaction of $117,036.00. Following the completion of the sale, the insider now directly owns 202,584 shares in the company, valued at approximately $1,215,504. 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 optical transport, service provider, enterprise and data center markets. The Company supplies optical network technology to telecommunication and data communication equipment companies across the world. The Company designs, manufactures and markets optical components, modules and subsystems that generate, detect, combine and separate light signals in optical communications networks.
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