Nordea Investment Management AB Grows Position in Oclaro, Inc. (OCLR)
Nordea Investment Management AB lifted its position in Oclaro, Inc. (NASDAQ:OCLR) by 2.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 180,290 shares of the semiconductor company’s stock after acquiring an additional 3,826 shares during the period. Nordea Investment Management AB owned 0.11% of Oclaro worth $1,684,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in OCLR. Russell Investments Group Ltd. increased its position in shares of Oclaro by 13.3% in the 1st quarter. Russell Investments Group Ltd. now owns 267,258 shares of the semiconductor company’s stock valued at $2,624,000 after acquiring an additional 31,367 shares during the period. Bank of New York Mellon Corp increased its position in shares of Oclaro by 16.1% in the 1st quarter. Bank of New York Mellon Corp now owns 907,574 shares of the semiconductor company’s stock valued at $8,912,000 after acquiring an additional 126,136 shares during the period. Swiss National Bank boosted its holdings in Oclaro by 1.6% in the first quarter. Swiss National Bank now owns 273,400 shares of the semiconductor company’s stock valued at $2,685,000 after purchasing an additional 4,400 shares during the last quarter. UBS Asset Management Americas Inc. boosted its holdings in Oclaro by 20.9% in the first quarter. UBS Asset Management Americas Inc. now owns 57,069 shares of the semiconductor company’s stock valued at $560,000 after purchasing an additional 9,870 shares during the last quarter. Finally, Karp Capital Management Corp purchased a new stake in Oclaro in the first quarter valued at $203,000. 70.45% of the stock is currently owned by hedge funds and other institutional investors.
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Several equities research analysts have commented on the stock. DA Davidson assumed coverage on shares of Oclaro in a report on Thursday, June 22nd. They issued a “buy” rating and a $14.00 price target on the stock. Cowen and Company reaffirmed an “outperform” rating and issued a $14.00 price target (up from $13.00) on shares of Oclaro in a report on Thursday, August 3rd. Northland Securities reaffirmed a “buy” rating and issued a $12.75 price target on shares of Oclaro in a report on Friday, September 15th. Zacks Investment Research lowered shares of Oclaro from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Finally, Needham & Company LLC reaffirmed a “strong-buy” rating and issued a $14.00 price target on shares of Oclaro in a report on Monday, June 12th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $13.33.
Shares of Oclaro, Inc. (NASDAQ:OCLR) opened at 8.77 on Friday. The stock’s 50 day moving average is $8.62 and its 200 day moving average is $9.08. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 11.39 and a beta of 1.61. Oclaro, Inc. has a 1-year low of $6.91 and a 1-year high of $11.30. Oclaro also was the target of unusually large options trading activity on Wednesday. Stock investors purchased 10,887 put options on the company. This represents an increase of 381% compared to the average volume of 2,264 put options.
Oclaro (NASDAQ:OCLR) last issued its quarterly earnings results on Wednesday, August 2nd. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $148.04 million. During the same period in the previous year, the business posted $0.11 earnings per share. The business’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 year.
In other news, insider Michael H. Fernicola sold 12,869 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $8.62, for a total transaction of $110,930.78. Following the transaction, the insider now directly owns 106,225 shares in the company, valued at $915,659.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP David Teichmann sold 20,132 shares of the business’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $8.37, for a total transaction of $168,504.84. Following the transaction, the executive vice president now owns 422,126 shares in the company, valued at $3,533,194.62. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 85,183 shares of company stock worth $747,174. Company insiders own 2.00% of the company’s stock.
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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