Legato Capital Management LLC purchased a new stake in shares of Oclaro, Inc. (NASDAQ:OCLR) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 44,608 shares of the semiconductor company’s stock, valued at approximately $417,000.
Other institutional investors have also modified their holdings of the company. Park Avenue Securities LLC acquired a new position in shares of Oclaro during the first quarter valued at about $104,000. FormulaFolio Investments LLC purchased a new position in shares of Oclaro during the first quarter worth $116,000. National Asset Management Inc. raised 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. LS Investment Advisors LLC purchased a new position in shares of Oclaro during the second quarter worth $122,000. Finally, Envestnet Asset Management Inc. purchased a new position in shares of Oclaro during the first quarter worth $160,000. 72.79% of the stock is currently owned by hedge funds and other institutional investors.
Oclaro, Inc. (NASDAQ OCLR) opened at 8.32 on Friday. The firm has a 50-day moving average price of $9.57 and a 200-day moving average price of $9.35. The company has a market cap of $1.39 billion, a P/E ratio of 10.81 and a beta of 1.55. Oclaro, Inc. has a 52 week low of $6.27 and a 52 week high of $11.30.
Oclaro (NASDAQ:OCLR) last posted its quarterly earnings results on Wednesday, August 2nd. The semiconductor company reported $0.19 earnings per share for the quarter, topping the Thomson Reuters’ 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 analysts’ expectations of $148.04 million. During the same quarter in the previous year, the business earned $0.11 earnings per share. The company’s revenue was up 19.3% on a year-over-year basis. Equities research analysts anticipate that Oclaro, Inc. will post $0.74 EPS for the current fiscal year.
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A number of brokerages have recently weighed in on OCLR. Zacks Investment Research lowered Oclaro from a “hold” rating to a “sell” rating in a research report on Wednesday. B. Riley reaffirmed a “buy” rating and set a $11.75 target price on shares of Oclaro in a research report on Tuesday. Cowen and Company reaffirmed an “outperform” rating and set a $14.00 target price (up from $13.00) on shares of Oclaro in a research report on Thursday, August 3rd. Needham & Company LLC reissued a “strong-buy” rating and issued a $14.00 price target on shares of Oclaro in a research report on Thursday, August 3rd. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $12.50 price target (up from $12.00) on shares of Oclaro in a research report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $12.97.
In other news, insider Thomas Gordon Beck Mason sold 32,352 shares of the business’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $9.12, for a total value of $295,050.24. Following the completion of the transaction, the insider now owns 144,125 shares in the company, valued at $1,314,420. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lisa Paul sold 5,000 shares of the business’s stock in a transaction on Thursday, June 1st. The stock was 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 owns 183,460 shares of the company’s stock, valued at approximately $1,682,328.20. The disclosure for this sale can be found here. 2.30% of the stock is owned by insiders.
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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