Arete Wealth Advisors LLC Has $1.85 Million Position in Oclaro, Inc. (OCLR)
Arete Wealth Advisors LLC reduced its stake in shares of Oclaro, Inc. (NASDAQ:OCLR) by 31.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 197,507 shares of the semiconductor company’s stock after selling 89,809 shares during the quarter. Arete Wealth Advisors LLC owned approximately 0.12% of Oclaro worth $1,845,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. National Asset Management Inc. increased its position 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 buying an additional 1,601 shares in the last quarter. LS Investment Advisors LLC acquired a new position in Oclaro during the 2nd quarter valued at about $122,000. ProShare Advisors LLC increased its position in Oclaro by 28.3% during the 2nd quarter. ProShare Advisors LLC now owns 16,531 shares of the semiconductor company’s stock valued at $154,000 after buying an additional 3,650 shares in the last quarter. Pinebridge Investments L.P. acquired a new position in Oclaro during the 2nd quarter valued at about $157,000. Finally, DORCHESTER WEALTH MANAGEMENT Co acquired a new position in Oclaro during the 2nd quarter valued at about $159,000. Hedge funds and other institutional investors own 70.45% of the company’s stock.
In other news, insider Michael H. Fernicola sold 12,869 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $8.62, for a total transaction of $110,930.78. Following the completion of the sale, the insider now directly owns 106,225 shares in the company, valued at $915,659.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lisa Paul sold 12,182 shares of the firm’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $8.45, for a total value of $102,937.90. Following the sale, the executive vice president now owns 246,090 shares of the company’s stock, valued at $2,079,460.50. The disclosure for this sale can be found here. Insiders have sold 85,183 shares of company stock valued at $747,174 over the last 90 days. Insiders own 2.30% of the company’s stock.
OCLR has been the topic of a number of research reports. DA Davidson initiated coverage on Oclaro in a report on Thursday, June 22nd. They issued a “buy” rating and a $14.00 price objective on the stock. Cowen and Company reissued an “outperform” rating and issued a $14.00 price objective (up from $13.00) on shares of Oclaro in a report on Thursday, August 3rd. Northland Securities reissued a “buy” rating and issued a $12.75 price objective on shares of Oclaro in a report on Friday, September 15th. Zacks Investment Research lowered Oclaro from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Finally, Needham & Company LLC reissued a “strong-buy” rating and issued a $14.00 price objective on shares of Oclaro in a report on Monday, June 12th. Two research analysts have rated the stock with a sell rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $12.95.
Oclaro, Inc. (NASDAQ:OCLR) traded down 0.80% on Thursday, reaching $8.68. The company had a trading volume of 1,310,849 shares. Oclaro, Inc. has a 52-week low of $6.91 and a 52-week high of $11.30. The stock’s 50-day moving average price is $8.66 and its 200 day moving average price is $9.11. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 11.27 and a beta of 1.61.
Oclaro (NASDAQ:OCLR) last announced its quarterly earnings results on Wednesday, August 2nd. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.03. Oclaro had a return on equity of 27.63% and a net margin of 21.28%. The firm had revenue of $149.38 million during the quarter, compared to the consensus estimate of $148.04 million. During the same period in the prior year, the firm earned $0.11 EPS. The firm’s quarterly revenue was up 19.3% compared to the same quarter last year. On average, equities analysts anticipate that Oclaro, Inc. will post $0.74 earnings per share for the current fiscal year.
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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