RS Investment Management Co. LLC acquired a new stake in shares of Oclaro Inc. (NASDAQ:OCLR) during the second quarter, Holdings Channel reports. The institutional investor acquired 264,450 shares of the company’s stock, valued at approximately $1,291,000.
A number of other institutional investors have also recently added to or reduced their stakes in OCLR. Bayesian Capital Management LP purchased a new position in Oclaro during the first quarter valued at $107,000. Peconic Partners LLC increased its position in Oclaro by 100.0% in the first quarter. Peconic Partners LLC now owns 20,000 shares of the company’s stock valued at $108,000 after buying an additional 10,000 shares during the last quarter. Algert Global LLC purchased a new position in Oclaro during the first quarter valued at $150,000. Blue Rock Advisors LLC purchased a new position in Oclaro during the first quarter valued at $350,000. Finally, Barclays PLC increased its position in Oclaro by 245.1% in the first quarter. Barclays PLC now owns 76,634 shares of the company’s stock valued at $384,000 after buying an additional 54,428 shares during the last quarter. 62.49% of the stock is owned by hedge funds and other institutional investors.
Shares of Oclaro Inc. (NASDAQ:OCLR) traded down 0.79% on Wednesday, reaching $8.84. The company had a trading volume of 2,608,102 shares. The company has a 50 day moving average price of $8.01 and a 200 day moving average price of $5.82. The stock has a market capitalization of $1.31 billion, a PE ratio of 113.33 and a beta of 1.86. Oclaro Inc. has a 52-week low of $2.27 and a 52-week high of $9.34.
Oclaro (NASDAQ:OCLR) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. Oclaro had a return on equity of 6.24% and a net margin of 2.10%. The company earned $125.20 million during the quarter, compared to the consensus estimate of $119.41 million. During the same quarter in the prior year, the firm earned ($0.06) EPS. The company’s quarterly revenue was up 52.3% compared to the same quarter last year. On average, equities research analysts anticipate that Oclaro Inc. will post $0.39 earnings per share for the current year.
Several equities analysts have weighed in on the company. Piper Jaffray Cos. reissued an “overweight” rating and set a $6.75 price target on shares of Oclaro in a research report on Wednesday, June 1st. B. Riley reissued a “buy” rating and set a $8.00 price target on shares of Oclaro in a research report on Wednesday, August 3rd. Needham & Company LLC reissued a “strong-buy” rating and set a $8.00 price target (up previously from $7.50) on shares of Oclaro in a research report on Wednesday, August 3rd. MKM Partners reissued a “buy” rating on shares of Oclaro in a research report on Monday, June 6th. Finally, Zacks Investment Research downgraded Oclaro from a “buy” rating to a “hold” rating in a research report on Wednesday, July 6th. One research analyst has rated the stock with a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $7.95.
In other Oclaro news, EVP Lisa Paul sold 9,363 shares of the business’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $7.69, for a total transaction of $72,001.47. Following the sale, the executive vice president now directly owns 218,264 shares of the company’s stock, valued at approximately $1,678,450.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Adam Carter sold 19,506 shares of the business’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $6.00, for a total transaction of $117,036.00. Following the sale, the insider now directly owns 202,584 shares in the company, valued at $1,215,504. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.
Oclaro, Inc is a provider of optical components, modules and subsystems for the optical transport, service provider, enterprise and data center markets. The Company supplies optical network technology to telecommunication and data communication equipment companies across the world. The Company designs, manufactures and markets optical components, modules and subsystems that generate, detect, combine and separate light signals in optical communications networks.
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