TCW Group Inc. grew its stake in shares of Oclaro, Inc. (NASDAQ:OCLR) by 75.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,333,288 shares of the semiconductor company’s stock after purchasing an additional 573,433 shares during the period. TCW Group Inc. owned about 0.79% of Oclaro worth $11,506,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Rhumbline Advisers increased its holdings in Oclaro by 13.4% during the 3rd quarter. Rhumbline Advisers now owns 326,994 shares of the semiconductor company’s stock worth $2,822,000 after purchasing an additional 38,758 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its holdings in shares of Oclaro by 31.9% in the third quarter. Municipal Employees Retirement System of Michigan now owns 139,030 shares of the semiconductor company’s stock valued at $1,200,000 after acquiring an additional 33,590 shares in the last quarter. Zweig DiMenna Associates LLC bought a new position in shares of Oclaro in the third quarter valued at approximately $3,581,000. Sei Investments Co. grew its holdings in shares of Oclaro by 150.9% in the third quarter. Sei Investments Co. now owns 17,105 shares of the semiconductor company’s stock valued at $147,000 after acquiring an additional 10,288 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Oclaro by 30.5% in the third quarter. Principal Financial Group Inc. now owns 1,291,142 shares of the semiconductor company’s stock valued at $11,143,000 after acquiring an additional 301,432 shares in the last quarter. 71.36% of the stock is owned by hedge funds and other institutional investors.
In related news, 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 sale, the executive vice president now owns 246,090 shares in the company, valued at $2,079,460.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Michael H. Fernicola sold 7,016 shares of the stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $6.21, for a total value of $43,569.36. Following the completion of the sale, the chief accounting officer now owns 81,378 shares in the company, valued at approximately $505,357.38. The disclosure for this sale can be found here. Insiders sold 59,198 shares of company stock worth $511,307 in the last quarter. 2.00% of the stock is currently owned by company insiders.
Several research firms have recently issued reports on OCLR. B. Riley reaffirmed a “buy” rating and issued a $11.75 target price on shares of Oclaro in a report on Tuesday, August 8th. Northland Securities reaffirmed a “buy” rating and issued a $12.75 target price on shares of Oclaro in a report on Friday, September 15th. MKM Partners reaffirmed a “buy” rating and issued a $12.00 target price (up from $10.50) on shares of Oclaro in a report on Wednesday, July 26th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $12.50 target price (up from $12.00) on shares of Oclaro in a report on Thursday, August 3rd. Finally, Zacks Investment Research lowered Oclaro from a “hold” rating to a “sell” rating in a report on Wednesday, November 8th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $12.67.
Oclaro, Inc. (OCLR) traded down $0.06 during trading hours on Thursday, hitting $6.30. The company’s stock had a trading volume of 528,344 shares, compared to its average volume of 8,712,244. The stock has a market capitalization of $1,070.00, a P/E ratio of 7.81, a P/E/G ratio of 0.89 and a beta of 1.41. Oclaro, Inc. has a 12-month low of $5.86 and a 12-month high of $11.30.
Oclaro (NASDAQ:OCLR) last posted its earnings results on Wednesday, November 1st. The semiconductor company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.02. The firm had revenue of $155.60 million for the quarter, compared to the consensus estimate of $154.51 million. Oclaro had a return on equity of 28.11% and a net margin of 24.31%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.14 earnings per share. research analysts expect that Oclaro, Inc. will post 0.51 earnings per share for the current year.
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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