New York State Teachers Retirement System Boosts Holdings in Oclaro, Inc. (OCLR)
New York State Teachers Retirement System boosted its position in shares of Oclaro, Inc. (NASDAQ:OCLR) by 26.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 78,367 shares of the semiconductor company’s stock after buying an additional 16,300 shares during the quarter. New York State Teachers Retirement System’s holdings in Oclaro were worth $676,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of OCLR. Shelton Capital Management acquired a new position in Oclaro during the 2nd quarter worth $117,000. LS Investment Advisors LLC bought a new stake in shares of Oclaro during the 2nd quarter valued at $122,000. Ameritas Investment Partners Inc. raised its position in shares of Oclaro by 53.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 14,542 shares of the semiconductor company’s stock valued at $136,000 after acquiring an additional 5,057 shares during the last quarter. GLG Partners LP bought a new stake in shares of Oclaro during the 2nd quarter valued at $140,000. Finally, ProShare Advisors LLC raised its position in shares of 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 acquiring an additional 3,650 shares during the last quarter. 71.36% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Oclaro, Inc. (NASDAQ OCLR) opened at $6.09 on Wednesday. Oclaro, Inc. has a 1 year low of $5.86 and a 1 year high of $11.30. The company has a market cap of $1,061.63, a price-to-earnings ratio of 8.06, a P/E/G ratio of 0.92 and a beta of 1.41.
Oclaro (NASDAQ:OCLR) last released its quarterly earnings data on Wednesday, November 1st. The semiconductor company reported $0.20 EPS for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.02. Oclaro had a net margin of 24.31% and a return on equity of 28.11%. The business had revenue of $155.60 million during the quarter, compared to analysts’ expectations of $154.51 million. During the same quarter in the prior year, the company earned $0.14 EPS. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. equities analysts forecast that Oclaro, Inc. will post 0.51 earnings per share for the current year.
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In other Oclaro news, CEO Greg Dougherty sold 40,000 shares of the stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $9.12, for a total transaction of $364,800.00. Following the completion of the transaction, the chief executive officer now owns 1,441,386 shares in the company, valued at approximately $13,145,440.32. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Michael H. Fernicola sold 7,016 shares of the stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $6.21, for a total value of $43,569.36. Following the transaction, the chief accounting officer now owns 81,378 shares of the company’s stock, valued at approximately $505,357.38. The disclosure for this sale can be found here. In the last 90 days, insiders sold 59,198 shares of company stock valued at $511,307. 2.00% of the stock is owned by corporate insiders.
Several brokerages have commented on OCLR. MKM Partners reiterated a “buy” rating and set a $12.00 target price (up previously from $10.50) on shares of Oclaro in a research report on Wednesday, July 26th. BidaskClub cut shares of Oclaro from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Needham & Company LLC reiterated a “strong-buy” rating and set a $14.00 target price on shares of Oclaro in a research report on Thursday, August 3rd. Cowen and Company reiterated an “outperform” rating and set a $14.00 target price (up previously from $13.00) on shares of Oclaro in a research report on Thursday, August 3rd. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $12.50 target price (up previously from $12.00) on shares of Oclaro in a research report on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Oclaro currently has a consensus rating of “Buy” and a consensus price target of $12.67.
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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