Thompson Siegel & Walmsley LLC reduced its stake in Oclaro Inc. (NASDAQ:OCLR) by 58.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,246,272 shares of the semiconductor company’s stock after selling 1,729,354 shares during the period. Thompson Siegel & Walmsley LLC owned approximately 0.74% of Oclaro worth $11,914,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of the stock. Prudential Financial Inc. boosted its stake in shares of Oclaro by 3.1% in the first quarter. Prudential Financial Inc. now owns 283,600 shares of the semiconductor company’s stock valued at $2,711,000 after buying an additional 8,620 shares during the period. Swiss National Bank boosted its stake in shares of Oclaro by 3.2% in the fourth quarter. Swiss National Bank now owns 282,100 shares of the semiconductor company’s stock valued at $1,901,000 after buying an additional 8,700 shares during the period. MML Investors Services LLC boosted its stake in shares of Oclaro by 46.6% in the fourth quarter. MML Investors Services LLC now owns 31,331 shares of the semiconductor company’s stock valued at $211,000 after buying an additional 9,958 shares during the period. Thrivent Financial for Lutherans boosted its stake in shares of Oclaro by 9.9% in the first quarter. Thrivent Financial for Lutherans now owns 114,060 shares of the semiconductor company’s stock valued at $1,090,000 after buying an additional 10,274 shares during the period. Finally, OppenheimerFunds Inc. boosted its stake in shares of Oclaro by 21.7% in the fourth quarter. OppenheimerFunds Inc. now owns 59,322 shares of the semiconductor company’s stock valued at $400,000 after buying an additional 10,589 shares during the period. Institutional investors and hedge funds own 64.50% of the company’s stock.
Get Oclaro alerts:Several brokerages recently issued reports on OCLR. ValuEngine upgraded Oclaro from a “hold” rating to a “buy” rating in a research note on Thursday. Zacks Investment Research cut Oclaro from a “hold” rating to a “sell” rating in a research note on Wednesday, May 9th. B. Riley lowered their price objective on shares of Oclaro from $10.00 to $9.50 and set a “neutral” rating for the company in a research report on Wednesday, May 9th. Northland Securities set a $9.00 price objective on shares of Oclaro and gave the company a “buy” rating in a research report on Monday, January 29th. Finally, Stifel Nicolaus downgraded shares of Oclaro from a “buy” rating to a “hold” rating in a research report on Monday, March 12th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $10.55.
Shares of Oclaro opened at $8.89 on Friday, according to Marketbeat.com. Oclaro Inc. has a one year low of $8.79 and a one year high of $8.92. The company has a market cap of $1.52 billion, a price-to-earnings ratio of 11.85, a PEG ratio of 1.60 and a beta of 0.75.
Oclaro (NASDAQ:OCLR) last announced its quarterly earnings results on Tuesday, May 8th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.03. The company had revenue of $127.30 million during the quarter, compared to the consensus estimate of $124.37 million. Oclaro had a net margin of 19.60% and a return on equity of 17.65%. The company’s revenue for the quarter was down 21.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.23 earnings per share. equities research analysts anticipate that Oclaro Inc. will post 0.43 EPS for the current year.
In other news, CEO Greg Dougherty sold 80,000 shares of the company’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $9.79, for a total transaction of $783,200.00. Following the completion of the transaction, the chief executive officer now directly owns 1,312,157 shares in the company, valued at $12,846,017.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David Teichmann sold 9,474 shares of the company’s stock in a transaction on 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 disclosure for this sale can be found here. Insiders have sold 134,474 shares of company stock valued at $1,298,840 over the last quarter. Company insiders own 2.00% of the company’s stock.
About Oclaro
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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