FMR LLC cut its position in shares of Oclaro, Inc. (NASDAQ:OCLR) by 2.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,446,230 shares of the semiconductor company’s stock after selling 42,034 shares during the period. FMR LLC owned approximately 0.87% of Oclaro worth $14,203,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the stock. State Street Corp raised its position in shares of Oclaro by 15.4% in the fourth quarter. State Street Corp now owns 2,182,508 shares of the semiconductor company’s stock worth $19,530,000 after buying an additional 291,667 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Oclaro by 43.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,284,301 shares of the semiconductor company’s stock worth $20,445,000 after buying an additional 697,014 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its position in shares of Oclaro by 4.4% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 71,062 shares of the semiconductor company’s stock worth $636,000 after buying an additional 2,984 shares during the last quarter. Guggenheim Capital LLC raised its position in shares of Oclaro by 108.2% in the fourth quarter. Guggenheim Capital LLC now owns 64,354 shares of the semiconductor company’s stock worth $576,000 after buying an additional 33,437 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in Oclaro by 50.8% in the fourth quarter. AQR Capital Management LLC now owns 193,870 shares of the semiconductor company’s stock valued at $1,735,000 after buying an additional 65,315 shares in the last quarter. 74.45% of the stock is owned by institutional investors and hedge funds.
Shares of Oclaro, Inc. (NASDAQ:OCLR) traded up 0.71% during trading on Wednesday, reaching $8.46. The company’s stock had a trading volume of 6,550,409 shares. The stock has a 50-day moving average of $9.46 and a 200-day moving average of $9.31. Oclaro, Inc. has a 52-week low of $6.90 and a 52-week high of $11.30. The stock has a market cap of $1.42 billion, a P/E ratio of 10.99 and a beta of 1.55.
Oclaro (NASDAQ:OCLR) last issued its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.03. Oclaro had a net margin of 21.28% and a return on equity of 27.63%. The company had revenue of $149.38 million during the quarter, compared to the consensus estimate of $148.04 million. During the same quarter in the prior year, the firm posted $0.11 EPS. Oclaro’s quarterly revenue was up 19.3% compared to the same quarter last year. Analysts predict that Oclaro, Inc. will post $0.74 earnings per share for the current fiscal year.
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Several research analysts have issued reports on OCLR shares. MKM Partners reiterated a “buy” rating and set a $12.00 price objective on shares of Oclaro in a research note on Friday, April 21st. B. Riley reiterated a “buy” rating and issued a $12.00 price target on shares of Oclaro in a report on Wednesday, May 3rd. Stifel Nicolaus reduced their target price on Oclaro from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, May 3rd. Piper Jaffray Companies dropped their price target on Oclaro from $15.00 to $12.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 3rd. Finally, Cowen and Company dropped their price target on Oclaro from $17.00 to $13.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 3rd. Two equities research 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. Oclaro has a consensus rating of “Buy” and an average target price of $12.97.
In other Oclaro news, insider Michael H. Fernicola sold 12,869 shares of the stock in a transaction dated Monday, August 14th. The shares were 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 owns 106,225 shares of the company’s stock, valued at approximately $915,659.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lisa Paul sold 5,000 shares of the stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $9.17, for a total transaction of $45,850.00. Following the transaction, the executive vice president now directly 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. Insiders have sold a total of 38,001 shares of company stock valued at $325,286 in the last three months. Insiders own 2.30% of the company’s stock.
About Oclaro
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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