Oclaro, Inc. (OCLR) Shares Bought by Swiss National Bank
Swiss National Bank increased its position in Oclaro, Inc. (NASDAQ:OCLR) by 49.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 260,200 shares of the company’s stock after buying an additional 85,800 shares during the period. Swiss National Bank owned approximately 0.20% of Oclaro worth $2,225,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of OCLR. JPMorgan Chase & Co. acquired a new stake in Oclaro during the third quarter worth approximately $1,656,000. UBS Asset Management Americas Inc. increased its stake in Oclaro by 54.0% in the third quarter. UBS Asset Management Americas Inc. now owns 70,999 shares of the company’s stock worth $607,000 after buying an additional 24,899 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Oclaro by 44.1% in the third quarter. Bank of New York Mellon Corp now owns 658,228 shares of the company’s stock worth $5,628,000 after buying an additional 201,466 shares during the last quarter. Victory Capital Management Inc. increased its stake in Oclaro by 198.3% in the third quarter. Victory Capital Management Inc. now owns 353,772 shares of the company’s stock worth $3,025,000 after buying an additional 235,178 shares during the last quarter. Finally, Essex Investment Management Co. LLC increased its stake in Oclaro by 135.1% in the third quarter. Essex Investment Management Co. LLC now owns 316,948 shares of the company’s stock worth $2,710,000 after buying an additional 182,116 shares during the last quarter. 61.88% of the stock is owned by institutional investors.
Oclaro, Inc. (NASDAQ:OCLR) opened at 8.49 on Friday. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 67.38 and a beta of 2.03. The firm has a 50-day moving average of $8.95 and a 200 day moving average of $7.64. Oclaro, Inc. has a 1-year low of $3.22 and a 1-year high of $10.19.
Oclaro (NASDAQ:OCLR) last issued its quarterly earnings data on Tuesday, November 1st. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.04. The firm had revenue of $135.50 million for the quarter, compared to analyst estimates of $131.65 million. Oclaro had a net margin of 3.39% and a return on equity of 14.48%. The company’s revenue was up 54.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.02) EPS. Analysts expect that Oclaro, Inc. will post $0.52 earnings per share for the current fiscal year.
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OCLR has been the topic of a number of research reports. Vetr downgraded shares of Oclaro from a “strong-buy” rating to a “buy” rating and set a $10.31 target price on the stock. in a report on Thursday, October 6th. Zacks Investment Research downgraded shares of Oclaro from a “buy” rating to a “hold” rating in a report on Thursday, November 3rd. TheStreet downgraded shares of Oclaro from a “buy” rating to a “hold” rating in a report on Wednesday, November 2nd. Stifel Nicolaus boosted their target price on shares of Oclaro from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Wednesday, November 2nd. Finally, Needham & Company LLC boosted their target price on shares of Oclaro from $10.00 to $11.00 and gave the stock a “strong-buy” rating in a report on Monday, October 31st. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $10.21.
In other news, insider Thomas Gordon Beck Mason sold 7,566 shares of the firm’s stock in a transaction dated Tuesday, December 13th. The shares were sold at an average price of $8.35, for a total value of $63,176.10. Following the transaction, the insider now owns 253,338 shares of the company’s stock, valued at approximately $2,115,372.30. The sale 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 firm’s stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $8.79, for a total transaction of $43,950.00. Following the completion of the transaction, the executive vice president now directly owns 207,474 shares in the company, valued at approximately $1,823,696.46. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by insiders.
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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