Hood River Capital Management LLC Purchases 330,850 Shares of Oclaro Inc. (OCLR)
Hood River Capital Management LLC boosted its position in shares of Oclaro Inc. (NASDAQ:OCLR) by 8.1% during the second quarter, Holdings Channel reports. The fund owned 4,434,828 shares of the company’s stock after buying an additional 330,850 shares during the period. Oclaro comprises 2.9% of Hood River Capital Management LLC’s holdings, making the stock its 3rd largest position. Hood River Capital Management LLC’s holdings in Oclaro were worth $21,642,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Algert Global LLC purchased a new position in shares of Oclaro during the first quarter worth $150,000. Insight Capital Research & Management Inc. bought a new stake in shares of Oclaro during the first quarter worth about $676,000. Blue Rock Advisors LLC bought a new stake in shares of Oclaro during the first quarter worth about $350,000. Menta Capital LLC increased its stake in shares of Oclaro by 39.1% in the first quarter. Menta Capital LLC now owns 84,723 shares of the company’s stock worth $458,000 after buying an additional 23,800 shares during the period. Finally, Spark Investment Management LLC increased its stake in shares of Oclaro by 122.0% in the first quarter. Spark Investment Management LLC now owns 1,025,900 shares of the company’s stock worth $5,539,000 after buying an additional 563,800 shares during the period. Institutional investors own 62.49% of the company’s stock.
Oclaro Inc. (NASDAQ:OCLR) traded up 3.07% during trading on Wednesday, reaching $9.06. The company’s stock had a trading volume of 4,645,280 shares. Oclaro Inc. has a 1-year low of $2.37 and a 1-year high of $9.34. The company’s 50-day moving average is $8.24 and its 200-day moving average is $5.96. The company has a market capitalization of $1.34 billion, a P/E ratio of 116.15 and a beta of 1.82.
Oclaro (NASDAQ:OCLR) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.05. Oclaro had a return on equity of 6.24% and a net margin of 2.10%. The business had revenue of $125.20 million for the quarter, compared to the consensus estimate of $119.41 million. During the same period in the prior year, the business earned ($0.06) earnings per share. The business’s revenue was up 52.3% on a year-over-year basis. Equities analysts anticipate that Oclaro Inc. will post $0.39 EPS for the current year.
A number of brokerages have issued reports on OCLR. Zacks Investment Research raised Oclaro from a “hold” rating to a “strong-buy” rating and set a $8.50 target price for the company in a research note on Wednesday, August 17th. Jefferies Group began coverage on Oclaro in a research note on Monday. They issued a “buy” rating and a $11.25 target price for the company. Needham & Company LLC reaffirmed a “strong-buy” rating and issued a $8.00 target price (up from $7.50) on shares of Oclaro in a research note on Wednesday, August 3rd. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $9.00 target price on shares of Oclaro in a research note on Wednesday, September 7th. Finally, MKM Partners raised their target price on Oclaro from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, August 3rd. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $8.23.
In other news, EVP Lisa Paul sold 9,363 shares of the company’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $7.69, for a total value of $72,001.47. Following the sale, the executive vice president now directly owns 218,264 shares in the company, valued at $1,678,450.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Adam Carter sold 19,506 shares of the company’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $6.00, for a total value of $117,036.00. Following the completion of the sale, the insider now owns 202,584 shares in the company, valued at $1,215,504. The disclosure for this sale can be found here. 2.30% of the stock is owned by insiders.
Oclaro, Inc is a provider of optical components, modules and subsystems for the optical transport, service provider, enterprise and data center markets. The Company supplies optical network technology to telecommunication and data communication equipment companies across the world. The Company designs, manufactures and markets optical components, modules and subsystems that generate, detect, combine and separate light signals in optical communications networks.
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