Northern Trust Corp lowered its stake in Oclaro Inc (NASDAQ:OCLR) by 2.5% in the second quarter, HoldingsChannel reports. The institutional investor owned 1,963,422 shares of the semiconductor company’s stock after selling 50,635 shares during the quarter. Northern Trust Corp’s holdings in Oclaro were worth $17,533,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the company. Suntrust Banks Inc. purchased a new position in Oclaro in the first quarter valued at about $160,000. Cerebellum GP LLC boosted its holdings in Oclaro by 80.9% in the second quarter. Cerebellum GP LLC now owns 19,717 shares of the semiconductor company’s stock valued at $176,000 after purchasing an additional 8,816 shares during the last quarter. New Jersey Better Educational Savings Trust purchased a new position in Oclaro in the second quarter valued at about $179,000. Oppenheimer Asset Management Inc. purchased a new position in Oclaro in the second quarter valued at about $266,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Oclaro in the second quarter valued at about $322,000. Institutional investors and hedge funds own 68.68% of the company’s stock.
NASDAQ:OCLR opened at $8.29 on Friday. Oclaro Inc has a 52 week low of $5.61 and a 52 week high of $10.20. The company has a market cap of $1.41 billion, a price-to-earnings ratio of 18.84, a PEG ratio of 1.24 and a beta of 0.56.
Oclaro (NASDAQ:OCLR) last released its earnings results on Monday, August 13th. The semiconductor company reported $0.08 EPS for the quarter, hitting analysts’ consensus estimates of $0.08. Oclaro had a return on equity of 13.34% and a net margin of 11.50%. The company had revenue of $120.94 million for the quarter, compared to the consensus estimate of $120.22 million. On average, sell-side analysts expect that Oclaro Inc will post 0.33 earnings per share for the current year.
A number of research analysts recently commented on the company. BidaskClub downgraded Oclaro from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 9th. ValuEngine raised Oclaro from a “hold” rating to a “buy” rating in a report on Friday, August 10th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the stock. Oclaro currently has an average rating of “Hold” and an average price target of $9.44.
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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