Crossmark Global Holdings Inc. Buys Shares of 40,620 Oclaro, Inc. (OCLR)
Crossmark Global Holdings Inc. bought a new position in Oclaro, Inc. (NASDAQ:OCLR) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 40,620 shares of the semiconductor company’s stock, valued at approximately $351,000.
Other hedge funds have also recently modified their holdings of the company. Shelton Capital Management purchased a new stake in shares of Oclaro in the 2nd quarter worth $117,000. LS Investment Advisors LLC purchased a new stake in shares of Oclaro during the 2nd quarter worth $122,000. Ameritas Investment Partners Inc. lifted its stake in shares of Oclaro by 53.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 14,542 shares of the semiconductor company’s stock worth $136,000 after purchasing an additional 5,057 shares during the last quarter. GLG Partners LP purchased a new stake in shares of Oclaro during the 2nd quarter worth $140,000. Finally, ProShare Advisors LLC lifted its stake in shares of Oclaro by 28.3% during the 2nd quarter. ProShare Advisors LLC now owns 16,531 shares of the semiconductor company’s stock worth $154,000 after purchasing an additional 3,650 shares during the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.
Oclaro, Inc. (NASDAQ OCLR) opened at $7.05 on Friday. Oclaro, Inc. has a 1 year low of $5.86 and a 1 year high of $11.30. The stock has a market capitalization of $1,189.06, a PE ratio of 9.03, a P/E/G ratio of 1.03 and a beta of 1.41.
Oclaro (NASDAQ:OCLR) last announced its earnings results on Wednesday, November 1st. The semiconductor company reported $0.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.02. Oclaro had a return on equity of 28.11% and a net margin of 24.31%. The company had revenue of $155.60 million for the quarter, compared to analyst estimates of $154.51 million. During the same period in the prior year, the company posted $0.14 EPS. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. research analysts predict that Oclaro, Inc. will post 0.51 EPS for the current year.
A number of equities research analysts recently weighed in on the company. B. Riley restated a “buy” rating and set a $11.75 price objective on shares of Oclaro in a research note on Thursday, August 3rd. Cowen Inc restated an “outperform” rating and set a $14.00 price objective (up from $13.00) on shares of Oclaro in a research note on Thursday, August 3rd. Zacks Investment Research cut Oclaro from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Piper Jaffray Companies restated a “buy” rating and set a $12.00 price objective on shares of Oclaro in a research note on Thursday, August 3rd. Finally, Needham & Company LLC cut Oclaro from a “strong-buy” rating to a “buy” rating and decreased their price objective for the stock from $14.00 to $9.00 in a research note on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Oclaro currently has a consensus rating of “Buy” and an average price target of $12.67.
In other news, CAO Michael H. Fernicola sold 7,016 shares of the stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $6.21, for a total value of $43,569.36. Following the transaction, the chief accounting officer now directly owns 81,378 shares of the company’s stock, valued at $505,357.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lisa Paul sold 12,182 shares of the stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $8.45, for a total value of $102,937.90. Following the completion of the transaction, the executive vice president now directly owns 246,090 shares in the company, valued at $2,079,460.50. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.
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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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