Oclaro, Inc. (OCLR) Position Decreased by Teachers Advisors, LLC Last Quarter
Aug 12 2017 by Johnny Bowman
Oclaro, the result of the combination of Bookham, Inc. and Avanex Corporation, leverages proprietary core technologies and vertically integrated product development to provide its customers with cost-effective and innovative optical devices, modules and subsystems. From the start of year 2017 to present date OCLR reported slumped performance of -2.91%. Insiders own 2.30% of the company's stock.
Several analysts have released their opinion on Oclaro, Inc. Piper Jaffray Companies restated a "buy" rating and set a $12.00 price objective on shares of Oclaro in a research note on Thursday, August 3rd. DA Davidson started coverage on Oclaro in a research note on Thursday, June 22nd. Zacks Investment Research lowered shares of Oclaro from a "hold" rating to a "sell" rating in a research report on Wednesday. Oclaro has an average rating of "Buy" and an average price target of $12.97.
Shares of Oclaro (NASDAQ OCLR) traded up 1.262% during mid-day trading on Friday, hitting $8.425. Market capitalization is calculated by multiplying a company's shares outstanding by the current market price of one share. It is trading at $8.32 which is quite a bit lower than the 50 day moving average which is $9.60 and significantly lower than the 200 day moving average of $9.36. Over the last week of the month, it was -12.33%, -6.62% over the last quarter, and -11.86% for the past six months. The semiconductor company reported $0.19 earnings per share for the quarter, topping analysts' consensus estimates of $0.16 by $0.03. Equities research analysts anticipate that Oclaro will post $0.74 EPS for the current fiscal year. Oclaro had a return on equity of 27.63% and a net margin of 21.28%. The Coca-Cola Company (NYSE:KO), at its latest closing price of $45.59, it has a price-to-book ratio of 8.85, compared to an industry average at 3.27. During the same period in the prior year, the business posted $0.11 EPS. During the same period in the previous year, the business posted $0.11 earnings per share.
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WARNING: This news story was published by Community Financial News and is the sole property of of Community Financial News. The correct version of this piece can be viewed at https://www.thecerbatgem.com/2017/08/11/cantor-fitzgerald-reiterates-overweight-rating-for-oclaro-inc-nasdaqoclr-updated-updated-updated.html. Also, insider Thomas Gordon Beck Mason sold 32,352 shares of the company's stock in a transaction on Tuesday, May 16th. The last stock close price is up -10.18% from the 200-day moving average, compared to the S&P 500 which has increased 0.05% over the same time. Following the sale, the insider now directly owns 144,125 shares of the company's stock, valued at $1,314,420. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The stock grabbed 86 new institutional investments totaling 13,083,523 shares while 39 institutional investors sold out their entire positions totaling 12,608,547 shares. Following the transaction, the executive vice president now owns 183,460 shares of the company's stock, valued at approximately $1,682,328.20. The disclosure for this sale can be found here.
Institutional investors now hold around $1.09 billion or 75% in OCLR stock. Park Avenue Securities LLC purchased a new stake in shares of Oclaro during the first quarter worth about $104,000. California Public Employees Retirement System now owns 250,224 shares of the semiconductor company's stock valued at $2,457,000 after buying an additional 4,300 shares during the last quarter. The value of the company's investment in Oclaro, Inc. went from $3,304,000 to $2,987,000 a change of 9.6% quarter over quarter. Metropolitan Life Insurance Co. NY boosted its position in shares of Oclaro by 3.5% in the first quarter. Finally, Swiss National Bank raised its stake in Oclaro by 1.6% in the first quarter. ING Groep NV bought a new position in shares of Oclaro during the second quarter worth $13,957,000.