Front Street Capital Management Inc. decreased its position in shares of Oclaro, Inc. (NASDAQ:OCLR) by 0.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 599,385 shares of the semiconductor company’s stock after selling 3,345 shares during the period. Oclaro makes up approximately 2.2% of Front Street Capital Management Inc.’s portfolio, making the stock its 19th largest position. Front Street Capital Management Inc. owned about 0.36% of Oclaro worth $5,598,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Teachers Advisors LLC raised its position in shares of Oclaro by 386.2% in the fourth quarter. Teachers Advisors LLC now owns 759,945 shares of the semiconductor company’s stock worth $6,802,000 after buying an additional 603,641 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Oclaro during the first quarter worth approximately $395,000. Strs Ohio bought a new position in shares of Oclaro during the first quarter worth approximately $2,946,000. Russell Investments Group Ltd. raised its position in shares of Oclaro by 13.3% in the first quarter. Russell Investments Group Ltd. now owns 267,258 shares of the semiconductor company’s stock worth $2,624,000 after buying an additional 31,367 shares in the last quarter. Finally, Eqis Capital Management Inc. bought a new position in shares of Oclaro during the first quarter worth approximately $231,000. 71.03% of the stock is currently owned by institutional investors and hedge funds.

Shares of Oclaro, Inc. (OCLR) opened at 8.40 on Thursday. Oclaro, Inc. has a 52 week low of $6.91 and a 52 week high of $11.30. The company’s 50-day moving average price is $9.24 and its 200 day moving average price is $9.25. The company has a market cap of $1.42 billion, a P/E ratio of 10.91 and a beta of 1.55.

Oclaro (NASDAQ:OCLR) last released its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. Oclaro had a net margin of 21.28% and a return on equity of 27.63%. The business had revenue of $149.38 million during the quarter, compared to analyst estimates of $148.04 million. During the same period in the previous year, the business earned $0.11 EPS. Oclaro’s revenue was up 19.3% compared to the same quarter last year. On average, equities analysts forecast that Oclaro, Inc. will post $0.74 EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This piece was originally posted by Watch List News and is the property of of Watch List News. If you are viewing this piece on another domain, it was illegally copied and republished in violation of United States & international trademark & copyright legislation. The correct version of this piece can be accessed at https://www.watchlistnews.com/front-street-capital-management-inc-has-5-60-million-position-in-oclaro-inc-oclr/1534146.html.

A number of research analysts have recently commented on OCLR shares. B. Riley reissued a “buy” rating and set a $12.00 price objective on shares of Oclaro in a report on Wednesday, May 3rd. Stifel Nicolaus lowered their price objective on Oclaro from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, May 3rd. Piper Jaffray Companies lowered their price objective on Oclaro from $15.00 to $12.00 and set an “overweight” rating on the stock in a report on Wednesday, May 3rd. Cowen and Company lowered their price objective on Oclaro from $17.00 to $13.00 and set an “outperform” rating on the stock in a report on Wednesday, May 3rd. Finally, Jefferies Group LLC lowered their price objective on Oclaro from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Wednesday, May 3rd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $12.97.

In related news, insider Michael H. Fernicola sold 12,869 shares of Oclaro stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $8.62, for a total value of $110,930.78. Following the completion of the transaction, the insider now directly owns 106,225 shares in the company, valued at approximately $915,659.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David Teichmann sold 20,132 shares of Oclaro stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $8.37, for a total transaction of $168,504.84. Following the completion of the transaction, the executive vice president now owns 422,126 shares of the company’s stock, valued at $3,533,194.62. The disclosure for this sale can be found here. Insiders sold a total of 73,001 shares of company stock valued at $644,236 over the last quarter. 2.30% of the stock is owned by company insiders.

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.

Want to see what other hedge funds are holding OCLR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Oclaro, Inc. (NASDAQ:OCLR).

Institutional Ownership by Quarter for Oclaro (NASDAQ:OCLR)

Receive News & Ratings for Oclaro Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oclaro Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.