Oclaro (OCLR) : 1492 Capital Management reduced its stake in Oclaro by 1.82% during the most recent quarter end. The investment management company now holds a total of 824,877 shares of Oclaro which is valued at $5,642,159 after selling 15,249 shares in Oclaro , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Oclaro makes up approximately 4.65% of 1492 Capital Management’s portfolio.
Other Hedge Funds, Including , Aperio Group boosted its stake in OCLR in the latest quarter, The investment management firm added 2,390 additional shares and now holds a total of 21,289 shares of Oclaro which is valued at $145,617. United Services Automobile Association added OCLR to its portfolio by purchasing 610,290 company shares during the most recent quarter which is valued at $4,174,384. Oclaro makes up approx 0.01% of United Services Automobile Association’s portfolio.Blackrock Investment Management boosted its stake in OCLR in the latest quarter, The investment management firm added 6,950 additional shares and now holds a total of 385,294 shares of Oclaro which is valued at $2,635,411.Thompson Davis boosted its stake in OCLR in the latest quarter, The investment management firm added 11,950 additional shares and now holds a total of 54,950 shares of Oclaro which is valued at $343,987. Oclaro makes up approx 0.52% of Thompson Davis’s portfolio.Magee Thomson Investment Partners reduced its stake in OCLR by selling 1,017 shares or 81.88% in the most recent quarter. The Hedge Fund company now holds 225 shares of OCLR which is valued at $1,177.
Oclaro opened for trading at $7.71 and hit $7.81 on the upside on Monday, eventually ending the session at $7.71, with a gain of 2.94% or 0.22 points. The heightened volatility saw the trading volume jump to 47,73,829 shares. Company has a market cap of $865 M.
On the company’s financial health, Oclaro reported $0.11 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.06. The company had revenue of $125.18 million for the quarter, compared to analysts expectations of $119.62 million. The company’s revenue was up 52.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.06 EPS.
Many Wall Street Analysts have commented on Oclaro. Company shares were Reiterated by MKM Partners on Aug 3, 2016 to “Buy”, Firm has raised the Price Target to $ 8 from a previous price target of $7 .Company shares were Upgraded by Needham on Jul 25, 2016 to ” Strong Buy”, Firm has raised the Price Target to $ 7.50 from a previous price target of $7 .
Oclaro Inc. is a provider of optical components modules and subsystems for the optical transport service provider enterprise and data center markets. The Company supplies optical network technology to telecommunication and data communication equipment companies across the world. The Company designs manufactures and markets optical components modules and subsystems that generate detect combine and separate light signals in optical communications networks. Its product offerings include client side transceivers line side transceivers tunable laser transmitters lithium niobate modulators transponder modules and receivers. The Company supplies optical products including tunable lasers external modulators integrated lasers and modulators and receivers. The Company also supplies products at the module and subsystem levels including transceivers transponders and controlled subsystems.