Wells Fargo & Company MN cut its holdings in Oclaro Inc. (NASDAQ:OCLR) by 5.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 532,778 shares of the semiconductor company’s stock after selling 30,451 shares during the period. Wells Fargo & Company MN owned about 0.32% of Oclaro worth $3,591,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Sei Investments Co. raised its stake in Oclaro by 150.9% in the third quarter. Sei Investments Co. now owns 17,105 shares of the semiconductor company’s stock valued at $147,000 after buying an additional 10,288 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new stake in Oclaro in the fourth quarter valued at $119,000. Ladenburg Thalmann Financial Services Inc. raised its stake in Oclaro by 74.2% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 27,556 shares of the semiconductor company’s stock valued at $238,000 after buying an additional 11,735 shares in the last quarter. Quantitative Systematic Strategies LLC acquired a new stake in Oclaro in the fourth quarter valued at $228,000. Finally, Piedmont Investment Advisors LLC raised its stake in Oclaro by 33.7% in the third quarter. Piedmont Investment Advisors LLC now owns 36,740 shares of the semiconductor company’s stock valued at $317,000 after buying an additional 9,251 shares in the last quarter. Institutional investors own 68.54% of the company’s stock.
Shares of OCLR stock opened at $9.23 on Friday. The stock has a market cap of $1,618.08, a price-to-earnings ratio of 12.31, a PEG ratio of 1.69 and a beta of 0.72. Oclaro Inc. has a 1 year low of $5.61 and a 1 year high of $10.93.
Oclaro (NASDAQ:OCLR) last issued its quarterly earnings data on Monday, February 5th. The semiconductor company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.02. The company had revenue of $139.30 million for the quarter, compared to analyst estimates of $138.83 million. Oclaro had a return on equity of 23.17% and a net margin of 23.00%. The business’s quarterly revenue was down 9.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.21 earnings per share. sell-side analysts forecast that Oclaro Inc. will post 0.44 EPS for the current year.
In related news, EVP David Teichmann sold 9,474 shares of the firm’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $10.00, for a total transaction of $94,740.00. Following the transaction, the executive vice president now owns 314,869 shares of the company’s stock, valued at $3,148,690. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Greg Dougherty sold 80,000 shares of the firm’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $9.79, for a total value of $783,200.00. Following the transaction, the chief executive officer now directly owns 1,312,157 shares in the company, valued at approximately $12,846,017.03. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 119,436 shares of company stock worth $1,088,446. Corporate insiders own 2.00% of the company’s stock.
A number of analysts have weighed in on the company. Piper Jaffray cut Oclaro from an “overweight” rating to a “neutral” rating in a research note on Monday, March 12th. Raymond James Financial cut Oclaro from a “buy” rating to a “hold” rating in a research note on Wednesday, March 14th. Cowen restated a “buy” rating and issued a $8.00 price target on shares of Oclaro in a research note on Tuesday, February 6th. Stifel Nicolaus cut their price target on Oclaro from $8.50 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday, February 6th. Finally, Loop Capital cut Oclaro from a “buy” rating to a “hold” rating in a research note on Monday, March 12th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Oclaro currently has an average rating of “Hold” and a consensus target price of $10.43.
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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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