Teachers Advisors LLC lessened its stake in shares of Oclaro, Inc. (NASDAQ:OCLR) by 45.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,783,520 shares of the semiconductor company’s stock after selling 2,345,499 shares during the quarter. Teachers Advisors LLC owned about 1.66% of Oclaro worth $25,998,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in OCLR. Wellington Management Group LLP grew its holdings in Oclaro by 30.5% during the 1st quarter. Wellington Management Group LLP now owns 9,737,747 shares of the semiconductor company’s stock valued at $95,624,000 after buying an additional 2,278,171 shares during the last quarter. ING Groep NV acquired a new stake in shares of Oclaro during the second quarter worth $13,957,000. Vanguard Group Inc. boosted its holdings in shares of Oclaro by 20.2% during the first quarter. Vanguard Group Inc. now owns 7,060,853 shares of the semiconductor company’s stock worth $69,337,000 after purchasing an additional 1,186,225 shares during the last quarter. State of New Jersey Common Pension Fund D acquired a new stake in shares of Oclaro during the second quarter worth $9,340,000. Finally, Principal Financial Group Inc. boosted its holdings in shares of Oclaro by 6,415.5% during the second quarter. Principal Financial Group Inc. now owns 989,710 shares of the semiconductor company’s stock worth $9,244,000 after purchasing an additional 974,520 shares during the last quarter. Hedge funds and other institutional investors own 70.45% of the company’s stock.
Oclaro, Inc. (NASDAQ:OCLR) opened at 8.75 on Friday. The firm has a market cap of $1.48 billion, a PE ratio of 11.36 and a beta of 1.61. Oclaro, Inc. has a one year low of $6.91 and a one year high of $11.30. The company has a 50-day moving average price of $8.66 and a 200-day moving average price of $9.11.
Oclaro (NASDAQ:OCLR) last posted its quarterly earnings results on Wednesday, August 2nd. The semiconductor company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.16 by $0.03. Oclaro had a net margin of 21.28% and a return on equity of 27.63%. The business had revenue of $149.38 million for the quarter, compared to analysts’ expectations of $148.04 million. During the same period in the previous year, the company posted $0.11 EPS. Oclaro’s revenue was up 19.3% on a year-over-year basis. Equities analysts predict that Oclaro, Inc. will post $0.74 earnings per share for the current fiscal year.
In other news, EVP Lisa Paul sold 12,182 shares of the business’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $8.45, for a total transaction of $102,937.90. Following the transaction, the executive vice president now directly owns 246,090 shares in the company, valued at approximately $2,079,460.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Michael H. Fernicola sold 12,869 shares of the business’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $8.62, for a total transaction of $110,930.78. Following the transaction, the insider now owns 106,225 shares in the company, valued at $915,659.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 85,183 shares of company stock worth $747,174. 2.30% of the stock is currently owned by corporate insiders.
OCLR has been the topic of several analyst reports. ValuEngine upgraded Oclaro from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 3rd. Piper Jaffray Companies restated a “buy” rating and set a $12.00 price objective on shares of Oclaro in a report on Thursday, August 3rd. B. Riley restated a “buy” rating and set a $11.75 price objective on shares of Oclaro in a report on Tuesday, August 8th. Raymond James Financial, Inc. initiated coverage on Oclaro in a report on Thursday, September 14th. They set a “strong-buy” rating and a $12.00 price objective on the stock. Finally, Stifel Nicolaus restated a “buy” rating and set a $12.00 price objective (up previously from $10.00) on shares of Oclaro in a report on Monday, July 10th. Two research analysts have rated the stock with a sell rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $12.95.
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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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