New Jersey Better Educational Savings Trust Invests $262,000 in Oclaro, Inc. (OCLR)
New Jersey Better Educational Savings Trust acquired a new position in Oclaro, Inc. (NASDAQ:OCLR) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 28,000 shares of the semiconductor company’s stock, valued at approximately $262,000.
A number of other institutional investors also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its position in Oclaro by 13.3% in the first quarter. Russell Investments Group Ltd. now owns 267,258 shares of the semiconductor company’s stock worth $2,624,000 after buying an additional 31,367 shares during the period. Tealwood Asset Management Inc. bought a new position in Oclaro during the first quarter worth $1,779,000. Strs Ohio bought a new position in Oclaro during the first quarter worth $2,946,000. Janney Montgomery Scott LLC bought a new position in Oclaro during the first quarter worth $395,000. Finally, Park Avenue Securities LLC bought a new position in Oclaro during the first quarter worth $104,000. 72.79% of the stock is currently owned by institutional investors.
Shares of Oclaro, Inc. (NASDAQ OCLR) opened at 8.39 on Friday. The firm has a 50-day moving average price of $9.54 and a 200-day moving average price of $9.34. Oclaro, Inc. has a 52-week low of $6.88 and a 52-week high of $11.30. The stock has a market cap of $1.40 billion, a P/E ratio of 10.90 and a beta of 1.55.
Oclaro (NASDAQ:OCLR) last posted its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, topping the 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 business had revenue of $149.38 million for the quarter, compared to analysts’ expectations of $148.04 million. During the same quarter last year, the firm earned $0.11 earnings per share. The business’s revenue was up 19.3% on a year-over-year basis. On average, analysts anticipate that Oclaro, Inc. will post $0.74 EPS for the current fiscal year.
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A number of equities analysts have weighed in on the company. MKM Partners reissued a “buy” rating and set a $12.00 price objective (up previously from $10.50) on shares of Oclaro in a research note on Wednesday, July 26th. Northland Securities reissued a “buy” rating and set a $12.00 price objective on shares of Oclaro in a research note on Friday, June 23rd. BidaskClub lowered Oclaro from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Needham & Company LLC reissued a “strong-buy” rating and set a $14.00 price objective on shares of Oclaro in a research note on Monday, June 12th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $21.00 price objective (down previously from $35.00) on shares of Oclaro in a research note on Thursday, July 13th. 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 stock. The stock currently has an average rating of “Buy” and an average target price of $12.97.
In other news, insider Thomas Gordon Beck Mason sold 32,352 shares of the firm’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $9.12, for a total transaction of $295,050.24. Following the sale, the insider now owns 144,125 shares in the company, valued at $1,314,420. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lisa Paul sold 5,000 shares of the firm’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 sale, the executive vice president now owns 183,460 shares in the company, valued at approximately $1,682,328.20. The disclosure for this sale can be found here. 2.30% of the stock is owned by company 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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