Principal Financial Group Inc. raised its holdings in shares of Oclaro Inc (NASDAQ:OCLR) by 3.6% during the first quarter, HoldingsChannel.com reports. The firm owned 1,328,416 shares of the semiconductor company’s stock after purchasing an additional 46,205 shares during the period. Principal Financial Group Inc.’s holdings in Oclaro were worth $12,699,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of OCLR. Schwab Charles Investment Management Inc. increased its position in Oclaro by 7.3% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 782,459 shares of the semiconductor company’s stock valued at $5,274,000 after purchasing an additional 53,110 shares during the period. Teacher Retirement System of Texas increased its position in Oclaro by 312.9% during the 4th quarter. Teacher Retirement System of Texas now owns 57,077 shares of the semiconductor company’s stock valued at $385,000 after purchasing an additional 43,255 shares during the period. Swiss National Bank increased its position in Oclaro by 3.2% during the 4th quarter. Swiss National Bank now owns 282,100 shares of the semiconductor company’s stock valued at $1,901,000 after purchasing an additional 8,700 shares during the period. Pinebridge Investments L.P. increased its position in Oclaro by 265.1% during the 4th quarter. Pinebridge Investments L.P. now owns 76,421 shares of the semiconductor company’s stock valued at $515,000 after purchasing an additional 55,491 shares during the period. Finally, Arizona State Retirement System grew its position in shares of Oclaro by 224.2% in the 4th quarter. Arizona State Retirement System now owns 283,679 shares of the semiconductor company’s stock worth $1,912,000 after buying an additional 196,179 shares during the last quarter. 71.79% of the stock is currently owned by institutional investors and hedge funds.
OCLR stock opened at $8.74 on Friday. The company has a market capitalization of $1.48 billion, a P/E ratio of 11.65, a P/E/G ratio of 1.42 and a beta of 0.83. Oclaro Inc has a 52 week low of $5.61 and a 52 week high of $10.49.
Oclaro (NASDAQ:OCLR) last released its earnings results on Tuesday, May 8th. The semiconductor company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.03. The company had revenue of $127.30 million during the quarter, compared to analysts’ expectations of $124.37 million. Oclaro had a net margin of 19.60% and a return on equity of 17.65%. Oclaro’s revenue for the quarter was down 21.5% on a year-over-year basis. During the same period last year, the business earned $0.23 EPS. analysts anticipate that Oclaro Inc will post 0.44 earnings per share for the current fiscal year.
In related news, CEO Greg Dougherty sold 40,000 shares of Oclaro stock in a transaction that occurred on Monday, May 14th. The shares were sold at an average price of $9.26, for a total value of $370,400.00. Following the completion of the sale, the chief executive officer now directly owns 1,292,535 shares in the company, valued at approximately $11,968,874.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lisa Paul sold 5,000 shares of Oclaro stock in a transaction that occurred on Thursday, June 14th. The stock was sold at an average price of $9.08, for a total transaction of $45,400.00. Following the completion of the sale, the executive vice president now owns 204,397 shares of the company’s stock, valued at $1,855,924.76. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.
OCLR has been the topic of a number of analyst reports. Morgan Stanley initiated coverage on shares of Oclaro in a research report on Friday, March 9th. They issued an “equal weight” rating and a $8.00 price objective on the stock. ValuEngine raised shares of Oclaro from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 1st. Northland Securities reaffirmed a “buy” rating and issued a $11.25 price objective on shares of Oclaro in a research report on Tuesday, April 17th. Raymond James downgraded shares of Oclaro from a “buy” rating to a “hold” rating in a research report on Wednesday, March 14th. Finally, Piper Jaffray Companies downgraded shares of Oclaro from an “overweight” rating to a “neutral” rating in a research report on Monday, March 12th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company’s stock. Oclaro currently has a consensus rating of “Hold” and an average target price of $10.55.
Oclaro, Inc designs, manufactures, and markets optical components, modules, and subsystems for the long-haul, metro, and data center markets worldwide. The company's products generate, detect, combine, and separate light signals in optical communications networks. It offers client side transceivers, including pluggable transceivers; line side transceivers; tunable laser transmitters, such as discrete lasers and co-packaged laser modulators; lithium niobate modulators to manipulate the phase or the amplitude of an optical signal; transponder modules for transmitter and receiver functions; and discrete lasers and receivers for metro and long-haul applications.
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