Paloma Partners Management Co acquired a new position in shares of Oclaro Inc (NASDAQ:OCLR) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 85,600 shares of the semiconductor company’s stock, valued at approximately $764,000. Paloma Partners Management Co owned approximately 0.05% of Oclaro as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently bought and sold shares of the business. Highland Capital Management LP increased its position in shares of Oclaro by 158.7% in the 2nd quarter. Highland Capital Management LP now owns 249,402 shares of the semiconductor company’s stock valued at $2,227,000 after buying an additional 152,988 shares in the last quarter. Wolverine Asset Management LLC bought a new position in Oclaro during the 2nd quarter worth about $1,339,000. Raymond James & Associates bought a new position in Oclaro during the 2nd quarter worth about $329,000. Renaissance Technologies LLC bought a new position in Oclaro during the 2nd quarter worth about $2,278,000. Finally, Ontario Teachers Pension Plan Board bought a new position in Oclaro during the 2nd quarter worth about $1,786,000. 69.28% of the stock is currently owned by hedge funds and other institutional investors.
Shares of OCLR traded up $0.03 during mid-day trading on Friday, hitting $8.46. 1,793,630 shares of the company’s stock were exchanged, compared to its average volume of 3,538,530. Oclaro Inc has a 52 week low of $5.61 and a 52 week high of $10.20. The stock has a market capitalization of $1.53 billion, a PE ratio of 19.23, a P/E/G ratio of 1.34 and a beta of 0.56.
Oclaro (NASDAQ:OCLR) last announced its quarterly earnings data on Monday, August 13th. The semiconductor company reported $0.08 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.08. The business had revenue of $120.94 million for the quarter, compared to analysts’ expectations of $120.22 million. Oclaro had a net margin of 11.50% and a return on equity of 13.34%. As a group, sell-side analysts forecast that Oclaro Inc will post 0.33 EPS for the current year.
OCLR has been the subject of a number of recent research reports. BidaskClub downgraded shares of Oclaro from a “sell” rating to a “strong sell” rating in a research note on Tuesday. ValuEngine upgraded shares of Oclaro from a “hold” rating to a “buy” rating in a research note on Friday, August 10th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the stock. Oclaro presently has a consensus rating of “Hold” and a consensus price target of $9.44.
Oclaro Company Profile
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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