Schwab Charles Investment Management Inc. Has $5.81 Million Position in Oclaro, Inc. (OCLR)
Schwab Charles Investment Management Inc. increased its holdings in Oclaro, Inc. (NASDAQ:OCLR) by 20.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 621,525 shares of the semiconductor company’s stock after acquiring an additional 105,831 shares during the period. Schwab Charles Investment Management Inc. owned about 0.37% of Oclaro worth $5,806,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of OCLR. National Asset Management Inc. raised its holdings in shares of Oclaro by 15.2% in the 1st quarter. National Asset Management Inc. now owns 12,144 shares of the semiconductor company’s stock worth $121,000 after acquiring an additional 1,601 shares during the last quarter. LS Investment Advisors LLC acquired a new stake in shares of Oclaro in the 2nd quarter worth about $122,000. DORCHESTER WEALTH MANAGEMENT Co acquired a new stake in shares of Oclaro in the 2nd quarter worth about $159,000. Envestnet Asset Management Inc. acquired a new stake in shares of Oclaro in the 1st quarter worth about $160,000. Finally, Rehmann Capital Advisory Group acquired a new stake in shares of Oclaro in the 2nd quarter worth about $167,000. Institutional investors own 70.44% of the company’s stock.
In other Oclaro news, EVP David Teichmann sold 20,132 shares of Oclaro stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $8.37, for a total value of $168,504.84. Following the completion of the transaction, the executive vice president now directly owns 422,126 shares of the company’s stock, valued at $3,533,194.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael H. Fernicola sold 12,869 shares of Oclaro 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 transaction, the insider now directly owns 106,225 shares of the company’s stock, valued at $915,659.50. The disclosure for this sale can be found here. Insiders sold 85,183 shares of company stock valued at $747,174 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.
Oclaro, Inc. (NASDAQ:OCLR) opened at 8.56 on Thursday. The stock’s 50 day moving average is $8.65 and its 200-day moving average is $9.05. Oclaro, Inc. has a 52-week low of $6.91 and a 52-week high of $11.30. The company has a market capitalization of $1.44 billion, a P/E ratio of 11.12 and a beta of 1.61.
Oclaro (NASDAQ:OCLR) last issued its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.03. The business had revenue of $149.38 million during the quarter, compared to analysts’ expectations of $148.04 million. Oclaro had a net margin of 21.28% and a return on equity of 27.63%. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.11 earnings per share. Analysts predict that Oclaro, Inc. will post $0.74 EPS for the current fiscal year.
A number of equities research analysts recently weighed in on OCLR shares. Raymond James Financial, Inc. started coverage on shares of Oclaro in a report on Thursday, September 14th. They issued a “strong-buy” rating and a $12.00 target price on the stock. MKM Partners restated a “buy” rating and issued a $12.00 target price (up previously from $10.50) on shares of Oclaro in a report on Wednesday, July 26th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $21.00 price objective (down previously from $35.00) on shares of Oclaro in a research note on Thursday, July 13th. BidaskClub lowered shares of Oclaro from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Finally, DA Davidson started coverage on shares of Oclaro in a research note on Thursday, June 22nd. They issued a “buy” rating and a $14.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $13.33.
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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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