Oclaro Inc (OCLR) Shares Bought by Gotham Asset Management LLC
Gotham Asset Management LLC boosted its stake in shares of Oclaro Inc (NASDAQ:OCLR) by 95.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 195,757 shares of the semiconductor company’s stock after purchasing an additional 95,708 shares during the period. Gotham Asset Management LLC owned approximately 0.12% of Oclaro worth $1,828,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the business. National Asset Management Inc. lifted its stake in Oclaro by 15.2% during the 1st quarter. National Asset Management Inc. now owns 12,144 shares of the semiconductor company’s stock valued at $121,000 after acquiring an additional 1,601 shares during the period. Shelton Capital Management acquired a new stake in Oclaro during the 2nd quarter valued at approximately $117,000. LS Investment Advisors LLC acquired a new stake in Oclaro during the 2nd quarter valued at approximately $122,000. GLG Partners LP acquired a new stake in Oclaro during the 2nd quarter valued at approximately $140,000. Finally, Envestnet Asset Management Inc. acquired a new stake in Oclaro during the 1st quarter valued at approximately $160,000. 70.44% of the stock is currently owned by institutional investors.
Oclaro Inc (NASDAQ OCLR) opened at 8.43 on Monday. The company has a 50 day moving average of $8.64 and a 200 day moving average of $9.02. Oclaro Inc has a 1-year low of $6.91 and a 1-year high of $11.30. The firm has a market capitalization of $1.42 billion, a PE ratio of 10.95 and a beta of 1.61.
Oclaro (NASDAQ:OCLR) last posted 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 37.51% and a return on equity of 46.53%. The firm had revenue of $149.38 million for the quarter, compared to analyst estimates of $148.04 million. During the same period last year, the firm posted $0.11 EPS. Oclaro’s quarterly revenue was up 19.3% on a year-over-year basis. Analysts forecast that Oclaro Inc will post $0.74 EPS for the current year.
Several analysts have commented on OCLR shares. Raymond James Financial, Inc. started coverage on shares of Oclaro in a research note on Thursday, September 14th. They set a “strong-buy” rating and a $12.00 price objective for the company. DA Davidson started coverage on shares of Oclaro in a research note on Thursday, June 22nd. They set a “buy” rating and a $14.00 price objective for the company. Zacks Investment Research cut shares of Oclaro from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. BidaskClub cut shares of Oclaro from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Finally, 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. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. Oclaro has a consensus rating of “Buy” and an average target price of $13.33.
In related news, insider Michael H. Fernicola sold 12,869 shares of Oclaro stock in a transaction 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 transaction, the insider now directly owns 106,225 shares in the company, valued at approximately $915,659.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP David Teichmann sold 20,132 shares of Oclaro stock in a transaction 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 in the company, valued at $3,533,194.62. The disclosure for this sale can be found here. Over the last quarter, insiders sold 85,183 shares of company stock worth $747,174. 2.00% of the stock is currently owned by insiders.
Oclaro Company Profile
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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