Point72 Asset Management L.P. bought a new stake in Oclaro Inc (NASDAQ:OCLR) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 218,929 shares of the semiconductor company’s stock, valued at approximately $1,889,000. Point72 Asset Management L.P. owned 0.13% of Oclaro at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in OCLR. Everence Capital Management Inc. bought a new position in Oclaro during the 3rd quarter valued at $110,000. Shelton Capital Management bought a new position in Oclaro during the 2nd quarter valued at $117,000. Ameritas Investment Partners Inc. boosted its stake in Oclaro by 53.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 14,542 shares of the semiconductor company’s stock valued at $136,000 after acquiring an additional 5,057 shares during the last quarter. GLG Partners LP bought a new position in Oclaro during the 2nd quarter valued at $140,000. Finally, Sei Investments Co. boosted its stake in Oclaro by 150.9% during the 3rd quarter. Sei Investments Co. now owns 17,105 shares of the semiconductor company’s stock valued at $147,000 after acquiring an additional 10,288 shares during the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

Shares of Oclaro Inc (NASDAQ:OCLR) opened at $6.97 on Friday. The firm has a market cap of $1,180.00, a price-to-earnings ratio of 9.03, a price-to-earnings-growth ratio of 1.03 and a beta of 1.31. Oclaro Inc has a twelve month low of $5.86 and a twelve month high of $11.30.

Oclaro (NASDAQ:OCLR) last issued its earnings results on Wednesday, November 1st. The semiconductor company reported $0.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.02. The company had revenue of $155.60 million for the quarter, compared to analysts’ expectations of $154.51 million. Oclaro had a net margin of 24.31% and a return on equity of 28.11%. The firm’s revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.14 earnings per share. research analysts anticipate that Oclaro Inc will post 0.51 EPS for the current fiscal year.

In related news, CAO Michael H. Fernicola sold 7,016 shares of the stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $6.21, for a total value of $43,569.36. Following the sale, the chief accounting officer now owns 81,378 shares of the company’s stock, valued at approximately $505,357.38. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Thomas Gordon Beck Mason sold 39,255 shares of the stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $7.22, for a total transaction of $283,421.10. Following the completion of the sale, the insider now directly owns 171,226 shares in the company, valued at approximately $1,236,251.72. The disclosure for this sale can be found here. Insiders have sold 51,271 shares of company stock worth $364,240 over the last three months. 2.00% of the stock is owned by corporate insiders.

OCLR has been the topic of a number of research analyst reports. Raymond James Financial initiated coverage on shares of Oclaro in a research note on Thursday, September 14th. They set a “strong-buy” rating and a $12.00 price objective on the stock. Needham & Company LLC downgraded shares of Oclaro from a “buy” rating to a “hold” rating in a research note on Monday. Jefferies Group reiterated a “buy” rating and set a $12.50 price objective on shares of Oclaro in a research note on Wednesday, November 1st. DA Davidson reissued a “buy” rating and set a $11.00 target price on shares of Oclaro in a report on Thursday, November 2nd. Finally, Zacks Investment Research cut shares of Oclaro from a “hold” rating to a “sell” rating in a report on Wednesday, November 8th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $12.67.

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About Oclaro

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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Institutional Ownership by Quarter for Oclaro (NASDAQ:OCLR)

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