Bank of New York Mellon Corp lifted its holdings in Oclaro Inc (NASDAQ:OCLR) by 4.5% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,367,781 shares of the semiconductor company’s stock after purchasing an additional 102,324 shares during the period. Bank of New York Mellon Corp owned approximately 1.39% of Oclaro worth $21,144,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the stock. Profund Advisors LLC grew its holdings in shares of Oclaro by 24.0% in the first quarter. Profund Advisors LLC now owns 31,786 shares of the semiconductor company’s stock valued at $304,000 after purchasing an additional 6,148 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Oclaro by 1.9% in the first quarter. Legal & General Group Plc now owns 346,304 shares of the semiconductor company’s stock valued at $3,293,000 after purchasing an additional 6,612 shares in the last quarter. Prudential Financial Inc. grew its holdings in shares of Oclaro by 3.1% in the first quarter. Prudential Financial Inc. now owns 283,600 shares of the semiconductor company’s stock valued at $2,711,000 after purchasing an additional 8,620 shares in the last quarter. Cerebellum GP LLC grew its holdings in shares of Oclaro by 80.9% in the second quarter. Cerebellum GP LLC now owns 19,717 shares of the semiconductor company’s stock valued at $176,000 after purchasing an additional 8,816 shares in the last quarter. Finally, Pinnacle Associates Ltd. grew its holdings in shares of Oclaro by 4.6% in the first quarter. Pinnacle Associates Ltd. now owns 214,995 shares of the semiconductor company’s stock valued at $2,055,000 after purchasing an additional 9,410 shares in the last quarter. Hedge funds and other institutional investors own 69.28% of the company’s stock.
NASDAQ OCLR opened at $9.09 on Friday. Oclaro Inc has a 52 week low of $5.61 and a 52 week high of $10.20. The company has a market cap of $1.55 billion, a price-to-earnings ratio of 20.66, a PEG ratio of 1.36 and a beta of 0.81.
Oclaro (NASDAQ:OCLR) last posted its quarterly earnings results on Monday, August 13th. The semiconductor company reported $0.08 EPS for the quarter, hitting the consensus estimate of $0.08. Oclaro had a net margin of 11.50% and a return on equity of 13.34%. The company had revenue of $120.94 million during the quarter, compared to analysts’ expectations of $120.22 million. equities analysts forecast that Oclaro Inc will post 0.33 earnings per share for the current fiscal year.
A number of research analysts recently weighed in on the stock. BidaskClub cut shares of Oclaro from a “hold” rating to a “sell” rating in a report on Thursday, September 6th. ValuEngine upgraded shares of Oclaro from a “hold” rating to a “buy” rating in a report on Friday, August 10th. Finally, DA Davidson reiterated a “buy” rating and set a $9.00 price target on shares of Oclaro in a report on Monday, June 11th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $9.44.
Oclaro Company Profile
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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