Goldman Sachs Group Inc. decreased its position in Oclaro, Inc. (NASDAQ:OCLR) by 36.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 129,028 shares of the semiconductor company’s stock after selling 75,393 shares during the period. Goldman Sachs Group Inc.’s holdings in Oclaro were worth $1,267,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. Park Avenue Securities LLC purchased a new position in shares of Oclaro during the first quarter worth approximately $104,000. FormulaFolio Investments LLC purchased a new position in shares of Oclaro during the first quarter worth approximately $116,000. National Asset Management Inc. increased its position in shares of Oclaro by 15.2% in the first quarter. National Asset Management Inc. now owns 12,144 shares of the semiconductor company’s stock worth $121,000 after buying an additional 1,601 shares during the last quarter. Envestnet Asset Management Inc. purchased a new position in shares of Oclaro during the first quarter worth approximately $160,000. Finally, M&T Bank Corp purchased a new position in shares of Oclaro during the first quarter worth approximately $177,000. Hedge funds and other institutional investors own 72.79% of the company’s stock.
Shares of Oclaro, Inc. (NASDAQ:OCLR) traded down 1.61% during midday trading on Thursday, hitting $8.55. 2,327,550 shares of the stock were exchanged. The company has a market cap of $1.43 billion, a PE ratio of 11.10 and a beta of 1.55. Oclaro, Inc. has a 12-month low of $6.12 and a 12-month high of $11.30. The firm has a 50-day moving average price of $9.60 and a 200-day moving average price of $9.36.
Oclaro (NASDAQ:OCLR) last posted its quarterly earnings results on Wednesday, August 2nd. The semiconductor company reported $0.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 during the quarter, compared to analyst estimates of $148.04 million. During the same period in the previous year, the business posted $0.11 EPS. The company’s quarterly revenue was up 19.3% on a year-over-year basis. On average, equities analysts predict that Oclaro, Inc. will post $0.74 EPS for the current year.
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A number of equities analysts recently commented on OCLR shares. Stifel Nicolaus lowered their target price on shares of Oclaro from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, May 3rd. B. Riley reiterated a “buy” rating and set a $12.00 target price on shares of Oclaro in a research note on Wednesday, May 3rd. MKM Partners reiterated a “buy” rating and set a $12.00 target price on shares of Oclaro in a research note on Friday, April 21st. Rosenblatt Securities started coverage on shares of Oclaro in a research note on Wednesday, May 17th. They set a “buy” rating and a $12.00 target price for the company. Finally, Needham & Company LLC reiterated a “buy” rating and set a $14.00 target price on shares of Oclaro in a research note on Friday, May 5th. Two research analysts have rated the stock with a sell rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Oclaro currently has an average rating of “Buy” and a consensus price target of $12.97.
In other news, EVP Lisa Paul sold 5,000 shares of Oclaro stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $9.17, for a total value of $45,850.00. Following the completion of the transaction, the executive vice president now directly owns 183,460 shares of the company’s stock, valued at approximately $1,682,328.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Greg Dougherty sold 40,000 shares of Oclaro stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $9.00, for a total transaction of $360,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,220,619 shares of the company’s stock, valued at $10,985,571. The disclosure for this sale can be found here. Insiders sold a total of 82,419 shares of company stock valued at $745,338 over the last ninety days. Company insiders own 2.30% 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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