Schwab Charles Investment Management Inc. Grows Position in Oclaro Inc (OCLR)
Schwab Charles Investment Management Inc. increased its holdings in shares of Oclaro Inc (NASDAQ:OCLR) by 17.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 729,349 shares of the semiconductor company’s stock after acquiring an additional 107,824 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in Oclaro were worth $6,295,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in OCLR. Everence Capital Management Inc. acquired a new stake in Oclaro during the third quarter worth about $110,000. Shelton Capital Management acquired a new stake in Oclaro during the second quarter worth about $117,000. Ameritas Investment Partners Inc. raised its stake in Oclaro by 53.3% during the second quarter. Ameritas Investment Partners Inc. now owns 14,542 shares of the semiconductor company’s stock worth $136,000 after acquiring an additional 5,057 shares during the period. GLG Partners LP acquired a new stake in Oclaro during the second quarter worth about $140,000. Finally, Sei Investments Co. raised its stake in Oclaro by 150.9% during the third quarter. Sei Investments Co. now owns 17,105 shares of the semiconductor company’s stock worth $147,000 after acquiring an additional 10,288 shares during the period. Hedge funds and other institutional investors own 70.59% of the company’s stock.
In other Oclaro news, EVP Lisa Paul sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $7.45, for a total value of $37,250.00. Following the sale, the executive vice president now owns 232,950 shares in the company, valued at $1,735,477.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Michael H. Fernicola sold 7,016 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $6.21, for a total transaction 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 51,271 shares of company stock worth $364,240 in the last 90 days. 2.00% of the stock is owned by company insiders.
Shares of Oclaro Inc (NASDAQ:OCLR) opened at $7.21 on Friday. Oclaro Inc has a 12 month low of $5.86 and a 12 month high of $11.30. The company has a market cap of $1,210.16, a P/E ratio of 8.10, a price-to-earnings-growth ratio of 1.05 and a beta of 1.30.
Oclaro (NASDAQ:OCLR) last announced its quarterly earnings results on Wednesday, November 1st. The semiconductor company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.18 by $0.02. Oclaro had a net margin of 24.31% and a return on equity of 28.11%. The company had revenue of $155.60 million for the quarter, compared to analyst estimates of $154.51 million. During the same quarter last year, the business earned $0.14 earnings per share. Oclaro’s revenue was up 14.8% compared to the same quarter last year. research analysts forecast that Oclaro Inc will post 0.51 earnings per share for the current fiscal year.
OCLR has been the topic of several research reports. Raymond James Financial initiated coverage on shares of Oclaro in a research note on Thursday, September 14th. They set a “strong-buy” rating and a $12.00 price objective on the stock. Northland Securities reiterated a “buy” rating and set a $12.75 price objective on shares of Oclaro in a research note on Friday, September 15th. Zacks Investment Research upgraded shares of Oclaro from a “sell” rating to a “hold” rating in a research note on Wednesday, October 4th. Stifel Nicolaus reiterated a “buy” rating and set a $12.00 price objective on shares of Oclaro in a research note on Friday, October 6th. Finally, Jefferies Group reiterated a “buy” rating and set a $12.50 price objective on shares of Oclaro in a research note on Wednesday, November 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $12.67.
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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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