ProShare Advisors LLC Has $154,000 Position in Oclaro Inc (OCLR)
ProShare Advisors LLC increased its stake in shares of Oclaro Inc (NASDAQ:OCLR) by 28.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,531 shares of the semiconductor company’s stock after buying an additional 3,650 shares during the quarter. ProShare Advisors LLC’s holdings in Oclaro were worth $154,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in OCLR. BlackRock Inc. lifted its position in Oclaro by 120.0% during the second quarter. BlackRock Inc. now owns 16,827,106 shares of the semiconductor company’s stock worth $157,166,000 after buying an additional 9,177,551 shares in the last quarter. Teachers Advisors LLC lifted its position in Oclaro by 574.9% during the first quarter. Teachers Advisors LLC now owns 5,129,019 shares of the semiconductor company’s stock worth $50,367,000 after buying an additional 4,369,074 shares in the last quarter. ING Groep NV purchased a new position in Oclaro during the second quarter worth approximately $13,957,000. Vanguard Group Inc. lifted its position in Oclaro by 20.2% during the first quarter. Vanguard Group Inc. now owns 7,060,853 shares of the semiconductor company’s stock worth $69,337,000 after buying an additional 1,186,225 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D purchased a new position in Oclaro during the second quarter worth approximately $9,340,000. Hedge funds and other institutional investors own 70.44% of the company’s stock.
In related news, EVP David Teichmann sold 20,132 shares of the stock in a transaction on Friday, August 11th. The stock was sold at an average price of $8.37, for a total value of $168,504.84. Following the transaction, the executive vice president now directly owns 422,126 shares of the company’s stock, valued at approximately $3,533,194.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Lisa Paul sold 12,182 shares of the stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $8.45, for a total value of $102,937.90. Following the completion of the transaction, the executive vice president now directly owns 246,090 shares in the company, valued at $2,079,460.50. The disclosure for this sale can be found here. Insiders sold a total of 85,183 shares of company stock worth $747,174 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.
Shares of Oclaro Inc (OCLR) opened at 8.43 on Monday. Oclaro Inc has a 52-week low of $6.91 and a 52-week high of $11.30. The firm has a 50-day moving average price of $8.64 and a 200-day moving average price of $9.02. The stock has a market cap of $1.42 billion, a P/E ratio of 10.95 and a beta of 1.61.
Oclaro (NASDAQ:OCLR) last posted its quarterly earnings data 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. Oclaro had a return on equity of 46.53% and a net margin of 37.51%. The business had revenue of $149.38 million for the quarter, compared to analysts’ expectations of $148.04 million. During the same quarter last year, the firm earned $0.11 earnings per share. The business’s revenue was up 19.3% on a year-over-year basis. On average, analysts anticipate that Oclaro Inc will post $0.74 EPS for the current fiscal year.
A number of equities analysts recently commented on OCLR shares. DA Davidson started coverage on Oclaro in a research report on Thursday, June 22nd. They set a “buy” rating and a $14.00 price objective on the stock. Northland Securities reiterated a “buy” rating and set a $12.00 price objective on shares of Oclaro in a research report on Friday, June 23rd. ValuEngine downgraded Oclaro from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 8th. Stifel Nicolaus reiterated a “buy” rating and set a $12.00 price objective (up previously from $10.00) on shares of Oclaro in a research report on Monday, July 10th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $21.00 price objective (down previously from $35.00) on shares of Oclaro in a research report on Thursday, July 13th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $13.33.
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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