Oclaro, Inc. (OCLR) Position Trimmed by Emerald Advisers Inc. PA
Emerald Advisers Inc. PA cut its holdings in shares of Oclaro, Inc. (NASDAQ:OCLR) by 30.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,283,852 shares of the semiconductor company’s stock after selling 574,482 shares during the quarter. Emerald Advisers Inc. PA owned about 0.76% of Oclaro worth $11,080,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Shelton Capital Management purchased a new position in Oclaro during the second quarter worth about $117,000. LS Investment Advisors LLC purchased a new position in Oclaro during the second quarter worth about $122,000. Ameritas Investment Partners Inc. lifted its position in Oclaro by 53.3% during the second quarter. Ameritas Investment Partners Inc. now owns 14,542 shares of the semiconductor company’s stock worth $136,000 after buying an additional 5,057 shares during the period. GLG Partners LP purchased a new position in Oclaro during the second quarter worth about $140,000. Finally, ProShare Advisors LLC lifted its position in Oclaro by 28.3% during the second quarter. ProShare Advisors LLC now owns 16,531 shares of the semiconductor company’s stock worth $154,000 after buying an additional 3,650 shares during the period. Hedge funds and other institutional investors own 70.69% of the company’s stock.
Several equities analysts recently weighed in on OCLR shares. Raymond James Financial, Inc. started coverage on Oclaro in a research report on Thursday, September 14th. They set a “strong-buy” rating and a $12.00 target price on the stock. Zacks Investment Research downgraded Oclaro from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Northland Securities reiterated a “buy” rating and set a $12.75 target price on shares of Oclaro in a research report on Wednesday. BidaskClub downgraded Oclaro from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $12.00 price objective on shares of Oclaro in a report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $12.67.
Shares of Oclaro, Inc. (NASDAQ:OCLR) opened at $6.19 on Friday. Oclaro, Inc. has a 12 month low of $5.86 and a 12 month high of $11.30. The stock has a market capitalization of $1.04 billion, a PE ratio of 7.64, a PEG ratio of 0.69 and a beta of 1.41.
Oclaro (NASDAQ:OCLR) last posted its earnings results on Wednesday, November 1st. The semiconductor company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. Oclaro had a return on equity of 28.11% and a net margin of 24.31%. The business had revenue of $155.60 million during the quarter, compared to analyst estimates of $154.51 million. During the same quarter last year, the firm earned $0.14 earnings per share. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. research analysts expect that Oclaro, Inc. will post 0.65 earnings per share for the current fiscal year.
In other news, EVP Lisa Paul sold 12,182 shares of the stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $8.45, for a total value of $102,937.90. Following the completion of the sale, the executive vice president now owns 246,090 shares in the company, valued at $2,079,460.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael H. Fernicola sold 12,869 shares of the stock in a transaction dated 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 sale, the insider now owns 106,225 shares of the company’s stock, valued at approximately $915,659.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 85,183 shares of company stock valued at $747,174. 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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