Schwab Charles Investment Management Inc. raised its stake in Oclaro Inc (NASDAQ:OCLR) by 9.5% during the second quarter, Holdings Channel reports. The firm owned 884,631 shares of the semiconductor company’s stock after purchasing an additional 76,975 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Oclaro were worth $7,900,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Natixis purchased a new position in shares of Oclaro in the 1st quarter valued at $100,000. Suntrust Banks Inc. purchased a new position in shares of Oclaro in the 1st quarter valued at $160,000. Cerebellum GP LLC raised its stake in shares of Oclaro by 80.9% in the 2nd quarter. Cerebellum GP LLC now owns 19,717 shares of the semiconductor company’s stock valued at $176,000 after acquiring an additional 8,816 shares during the period. New Jersey Better Educational Savings Trust purchased a new position in shares of Oclaro in the 2nd quarter valued at $179,000. Finally, Profund Advisors LLC raised its stake in shares of Oclaro by 24.0% in the 1st quarter. Profund Advisors LLC now owns 31,786 shares of the semiconductor company’s stock valued at $304,000 after acquiring an additional 6,148 shares during the period. Institutional investors own 69.28% of the company’s stock.
OCLR has been the topic of a number of research reports. BidaskClub raised shares of Oclaro from a “sell” rating to a “hold” rating in a research note on Friday, August 24th. ValuEngine raised shares of Oclaro from a “hold” rating to a “buy” rating in a research note on Friday, August 10th. Finally, DA Davidson reissued a “buy” rating and issued a $9.00 target price on shares of Oclaro in a research note on Monday, June 11th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $9.44.
Oclaro stock opened at $9.08 on Thursday. Oclaro Inc has a 12-month low of $5.61 and a 12-month high of $10.20. The firm has a market cap of $1.56 billion, a P/E ratio of 20.64, a PEG ratio of 1.37 and a beta of 0.81.
Oclaro (NASDAQ:OCLR) last released its quarterly earnings results on Monday, August 13th. The semiconductor company reported $0.08 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.08. Oclaro had a net margin of 11.50% and a return on equity of 13.34%. The firm had revenue of $120.94 million for the quarter, compared to the consensus estimate of $120.22 million. analysts expect that Oclaro Inc will post 0.33 earnings per share for the current fiscal year.
Oclaro, Inc engages in the design, manufacturing and marketing of optical components and modules for the long-haul, metro and data center markets. It also provides solutions for optical networks and high-speed interconnects for streaming video, cloud computing, application virtualization and other bandwidth-intensive and high-speed applications.
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