Millrace Asset Group adds Oclaro (OCLR) to its portfolio

Oclaro (OCLR) : Millrace Asset Group added new position in Oclaro during the most recent quarter end. The investment management firm now holds 280,000 shares of Oclaro which is valued at $1,915,200 , the company said in a statement filed on Aug 15, 2016 with the SEC.Oclaro makes up approximately 2.85% of Millrace Asset Group’s portfolio.

Other Hedge Funds, Including , Sg Capital Management boosted its stake in OCLR in the latest quarter, The investment management firm added 272,909 additional shares and now holds a total of 1,791,683 shares of Oclaro which is valued at $12,255,112. Oclaro makes up approx 2.72% of Sg Capital Management’s portfolio.Thrivent Financial For Lutherans boosted its stake in OCLR in the latest quarter, The investment management firm added 457,500 additional shares and now holds a total of 863,100 shares of Oclaro which is valued at $5,903,604. Oclaro makes up approx 0.03% of Thrivent Financial For Lutherans’s portfolio. Coe Capital Management added OCLR to its portfolio by purchasing 832,166 company shares during the most recent quarter which is valued at $5,692,015. Oclaro makes up approx 1.81% of Coe Capital Management’s portfolio. Ibm Retirement Fund added OCLR to its portfolio by purchasing 10,625 company shares during the most recent quarter which is valued at $55,569.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 $8 and hit $8.24 on the upside on Thursday, eventually ending the session at $8.13, with a gain of 3.17% or 0.25 points. The heightened volatility saw the trading volume jump to 57,23,229 shares. Company has a market cap of $1,202 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 Stifel on Sep 6, 2016 to “Buy”, Firm has raised the Price Target to $ 10 from a previous price target of $7.50 .Company shares were Reiterated by Needham on Aug 30, 2016 to “Strong Buy”, Firm has raised the Price Target to $ 10 from a previous price target of $8 .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 .

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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

Oclaro - Is it time to Sell?

Top Brokerage Firms are advising their investors on Oclaro. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.