California Public Employees Retirement System cut its stake in shares of Oclaro Inc (NASDAQ:OCLR) by 41.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 144,324 shares of the semiconductor company’s stock after selling 102,700 shares during the period. California Public Employees Retirement System owned approximately 0.09% of Oclaro worth $1,246,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in the company. BlackRock Inc. raised its position in Oclaro by 120.0% during the second quarter. BlackRock Inc. now owns 16,827,106 shares of the semiconductor company’s stock valued at $157,166,000 after buying an additional 9,177,551 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Oclaro by 1,727.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 105,789 shares of the semiconductor company’s stock valued at $913,000 after purchasing an additional 100,000 shares in the last quarter. Rhumbline Advisers grew its stake in Oclaro by 13.4% in the third quarter. Rhumbline Advisers now owns 326,994 shares of the semiconductor company’s stock valued at $2,822,000 after purchasing an additional 38,758 shares in the last quarter. TCW Group Inc. grew its stake in Oclaro by 75.5% in the third quarter. TCW Group Inc. now owns 1,333,288 shares of the semiconductor company’s stock valued at $11,506,000 after purchasing an additional 573,433 shares in the last quarter. Finally, Heartland Advisors Inc. grew its stake in Oclaro by 50.0% in the third quarter. Heartland Advisors Inc. now owns 150,000 shares of the semiconductor company’s stock valued at $1,295,000 after purchasing an additional 50,000 shares in the last quarter. 70.76% of the stock is currently owned by institutional investors.
Oclaro Inc (OCLR) traded up $0.08 during trading hours on Wednesday, hitting $6.68. The stock had a trading volume of 3,848,943 shares, compared to its average volume of 5,470,000. The company has a market cap of $1,130.00, a price-to-earnings ratio of 8.15, a P/E/G ratio of 1.12 and a beta of 1.14. Oclaro Inc has a 1-year low of $5.61 and a 1-year high of $11.30.
Oclaro (NASDAQ:OCLR) last issued its quarterly earnings data on Monday, February 5th. The semiconductor company reported $0.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.02. The business had revenue of $139.30 million for the quarter, compared to the consensus estimate of $138.83 million. Oclaro had a return on equity of 23.17% and a net margin of 23.00%. The firm’s revenue was down 9.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.21 EPS. equities analysts predict that Oclaro Inc will post 0.44 EPS for the current year.
OCLR has been the subject of several recent analyst reports. Needham & Company LLC downgraded Oclaro from a “strong-buy” rating to a “buy” rating and decreased their price target for the stock from $14.00 to $9.00 in a research note on Thursday, November 2nd. DA Davidson restated a “buy” rating and set a $11.00 target price on shares of Oclaro in a research note on Thursday, November 2nd. Jefferies Group restated a “buy” rating and set a $12.50 target price on shares of Oclaro in a research note on Wednesday, November 1st. Northland Securities reaffirmed a “buy” rating and issued a $12.75 price target on shares of Oclaro in a report on Wednesday, November 1st. Finally, ValuEngine raised Oclaro from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Oclaro presently has a consensus rating of “Buy” and a consensus price target of $10.18.
In other Oclaro news, insider Thomas Gordon Beck Mason sold 39,255 shares of Oclaro stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $7.22, for a total value of $283,421.10. Following the sale, the insider now owns 171,226 shares of the company’s stock, valued at approximately $1,236,251.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David Teichmann sold 24,962 shares of Oclaro stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $6.41, for a total value of $160,006.42. Following the completion of the sale, the executive vice president now directly owns 349,305 shares in the company, valued at approximately $2,239,045.05. The disclosure for this sale can be found here. Insiders sold a total of 69,217 shares of company stock worth $480,678 in the last three months. Company insiders own 2.00% of the company’s stock.
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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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