Perella Weinberg Partners Capital Management LP decreased its stake in Oclaro Inc (NASDAQ:OCLR) by 2.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 406,817 shares of the semiconductor company’s stock after selling 11,832 shares during the quarter. Perella Weinberg Partners Capital Management LP’s holdings in Oclaro were worth $3,637,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in OCLR. Legal & General Group Plc lifted its position in Oclaro by 1.9% in the 1st quarter. Legal & General Group Plc now owns 346,304 shares of the semiconductor company’s stock worth $3,293,000 after buying an additional 6,612 shares in the last quarter. Royal Bank of Canada lifted its position in Oclaro by 6.7% in the 1st quarter. Royal Bank of Canada now owns 358,500 shares of the semiconductor company’s stock worth $3,426,000 after buying an additional 22,403 shares in the last quarter. Principal Financial Group Inc. lifted its position in Oclaro by 3.6% in the 1st quarter. Principal Financial Group Inc. now owns 1,328,416 shares of the semiconductor company’s stock worth $12,699,000 after buying an additional 46,205 shares in the last quarter. Suntrust Banks Inc. purchased a new stake in Oclaro in the 1st quarter worth approximately $160,000. Finally, Columbia Partners L L C Investment Management purchased a new stake in Oclaro in the 2nd quarter worth approximately $1,236,000. Institutional investors own 68.68% of the company’s stock.
OCLR has been the subject of a number of research analyst reports. BidaskClub upgraded shares of Oclaro from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 9th. ValuEngine upgraded shares of Oclaro from a “hold” rating to a “buy” rating in a research report on Friday, August 10th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $9.48.
Oclaro (NASDAQ:OCLR) last released its quarterly earnings results on Monday, August 13th. The semiconductor company reported $0.08 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.08. The business had revenue of $120.94 million for the quarter, compared to the consensus estimate of $120.22 million. Oclaro had a net margin of 11.50% and a return on equity of 13.34%. On average, sell-side analysts forecast that Oclaro Inc will post 0.33 earnings per share for the current fiscal year.
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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