Bank of New York Mellon Corp increased its position in shares of Oclaro Inc. (NASDAQ:OCLR) by 14.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 456,762 shares of the company’s stock after buying an additional 57,908 shares during the period. Bank of New York Mellon Corp owned about 0.41% of Oclaro worth $2,229,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bayesian Capital Management LP bought a new position in Oclaro during the first quarter worth about $107,000. Peconic Partners LLC raised its position in Oclaro by 100.0% in the first quarter. Peconic Partners LLC now owns 20,000 shares of the company’s stock worth $108,000 after buying an additional 10,000 shares in the last quarter. Algert Global LLC bought a new position in Oclaro during the first quarter worth about $150,000. Blue Rock Advisors LLC bought a new position in Oclaro during the first quarter worth about $350,000. Finally, Barclays PLC raised its position in Oclaro by 245.1% in the first quarter. Barclays PLC now owns 76,634 shares of the company’s stock worth $384,000 after buying an additional 54,428 shares in the last quarter. Institutional investors and hedge funds own 62.49% of the company’s stock.
Oclaro Inc. (NASDAQ:OCLR) traded up 2.96% on Wednesday, reaching $9.05. The company had a trading volume of 3,561,458 shares. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of 116.03 and a beta of 1.82. The firm has a 50 day moving average price of $8.24 and a 200-day moving average price of $5.96. Oclaro Inc. has a 12 month low of $2.37 and a 12 month 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 the Zacks’ consensus estimate of $0.06 by $0.05. The firm had revenue of $125.20 million for the quarter, compared to analyst estimates of $119.41 million. Oclaro had a return on equity of 6.24% and a net margin of 2.10%. The business’s quarterly revenue was up 52.3% compared to the same quarter last year. During the same period last year, the company earned ($0.06) EPS. Analysts forecast that Oclaro Inc. will post $0.39 earnings per share for the current fiscal year.
A number of research analysts have issued reports on the company. Zacks Investment Research lowered Oclaro from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Jefferies Group assumed coverage on Oclaro in a research report on Monday. They set a “buy” rating and a $11.25 price target for the company. Piper Jaffray Cos. reiterated an “overweight” rating and set a $9.00 price target on shares of Oclaro in a research report on Wednesday, September 7th. Stifel Nicolaus boosted their price target on Oclaro from $7.50 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, September 6th. Finally, Needham & Company LLC reduced their price target on Oclaro from $10.00 to $8.00 and set a “strong-buy” rating for the company in a research report on Tuesday, August 30th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $8.23.
In other news, EVP Lisa Paul sold 9,363 shares of the firm’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $7.69, for a total value of $72,001.47. Following the transaction, the executive vice president now directly owns 218,264 shares in the company, valued at approximately $1,678,450.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Adam Carter sold 19,506 shares of the firm’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $6.00, for a total value of $117,036.00. Following the completion of the transaction, the insider now owns 202,584 shares in the company, valued at $1,215,504. The disclosure for this sale can be found here. 2.30% of the stock is owned by company insiders.
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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