Creative Planning Lowers Stake in Oclaro Inc (OCLR)
Creative Planning reduced its position in Oclaro Inc (NASDAQ:OCLR) by 36.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 22,126 shares of the semiconductor company’s stock after selling 12,468 shares during the period. Creative Planning’s holdings in Oclaro were worth $149,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ProShare Advisors LLC increased its stake in shares of Oclaro by 28.3% in the 2nd quarter. ProShare Advisors LLC now owns 16,531 shares of the semiconductor company’s stock valued at $154,000 after buying an additional 3,650 shares during the period. Advisor Group Inc. increased its stake in shares of Oclaro by 26.6% in the 2nd quarter. Advisor Group Inc. now owns 22,945 shares of the semiconductor company’s stock valued at $214,000 after buying an additional 4,820 shares during the period. Ameritas Investment Partners Inc. increased its stake in shares of Oclaro by 53.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 14,542 shares of the semiconductor company’s stock valued at $136,000 after buying an additional 5,057 shares during the period. Cubist Systematic Strategies LLC increased its stake in shares of Oclaro by 52.3% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 22,520 shares of the semiconductor company’s stock valued at $210,000 after buying an additional 7,730 shares during the period. Finally, Bridge City Capital LLC increased its stake in shares of Oclaro by 8.7% in the 3rd quarter. Bridge City Capital LLC now owns 98,182 shares of the semiconductor company’s stock valued at $847,000 after buying an additional 7,863 shares during the period. 70.69% of the stock is owned by institutional investors.
OCLR has been the subject of several research reports. Zacks Investment Research cut Oclaro from a “hold” rating to a “sell” rating in a research note on Wednesday, November 8th. Jefferies Group reissued a “buy” rating and issued a $12.50 target price on shares of Oclaro in a research note on Wednesday, November 1st. Northland Securities reissued a “buy” rating and issued a $12.75 target price on shares of Oclaro in a research note on Wednesday, November 1st. Needham & Company LLC cut Oclaro from a “buy” rating to a “hold” rating in a research note on Monday, December 18th. Finally, ValuEngine cut Oclaro from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $10.18.
Shares of Oclaro Inc (NASDAQ OCLR) opened at $6.69 on Thursday. Oclaro Inc has a 52 week low of $5.61 and a 52 week high of $11.30. The company has a market capitalization of $1,130.00, a price-to-earnings ratio of 8.16, a P/E/G ratio of 0.85 and a beta of 1.14.
Oclaro (NASDAQ:OCLR) last posted its earnings results on Monday, February 5th. The semiconductor company reported $0.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.02. The firm had revenue of $139.30 million for the quarter, compared to analyst estimates of $138.83 million. Oclaro had a return on equity of 23.90% and a net margin of 23.00%. The company’s revenue for the quarter was down 9.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.21 earnings per share. equities research analysts predict that Oclaro Inc will post 0.49 EPS for the current fiscal year.
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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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