Hsbc Holdings PLC increased its holdings in shares of Oclaro Inc (NASDAQ:OCLR) by 38.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 604,802 shares of the semiconductor company’s stock after acquiring an additional 167,101 shares during the period. Hsbc Holdings PLC owned about 0.35% of Oclaro worth $5,408,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of OCLR. Virtu Financial LLC grew its stake in Oclaro by 69.2% during the 3rd quarter. Virtu Financial LLC now owns 19,079 shares of the semiconductor company’s stock worth $171,000 after buying an additional 7,804 shares during the last quarter. Alpine Associates Management Inc. grew its stake in Oclaro by 24.7% during the 3rd quarter. Alpine Associates Management Inc. now owns 3,483,498 shares of the semiconductor company’s stock worth $31,142,000 after buying an additional 689,383 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in Oclaro during the 3rd quarter worth $1,949,000. Ontario Teachers Pension Plan Board grew its stake in Oclaro by 50.0% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 300,000 shares of the semiconductor company’s stock worth $2,682,000 after buying an additional 100,000 shares during the last quarter. Finally, FMR LLC grew its stake in Oclaro by 1.4% during the 3rd quarter. FMR LLC now owns 515,340 shares of the semiconductor company’s stock worth $4,607,000 after buying an additional 7,290 shares during the last quarter. 72.93% of the stock is owned by hedge funds and other institutional investors.
Several analysts have weighed in on the company. BidaskClub downgraded Oclaro from a “hold” rating to a “sell” rating in a research note on Thursday, September 6th. ValuEngine upgraded Oclaro from a “hold” rating to a “buy” rating in a research note on Friday, August 10th. Finally, Zacks Investment Research upgraded Oclaro from a “sell” rating to a “hold” rating in a research note on Saturday, December 1st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company’s stock. Oclaro presently has a consensus rating of “Hold” and an average target price of $9.48.
Oclaro stock opened at $8.26 on Friday. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 24.11, a PEG ratio of 1.46 and a beta of 0.57. Oclaro Inc has a fifty-two week low of $5.61 and a fifty-two week high of $10.20.
Oclaro (NASDAQ:OCLR) last posted its quarterly earnings results on Thursday, November 8th. The semiconductor company reported $0.07 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.07. The business had revenue of $131.66 million for the quarter, compared to the consensus estimate of $128.15 million. Oclaro had a return on equity of 9.44% and a net margin of 8.90%. As a group, equities research analysts forecast that Oclaro Inc will post 0.29 earnings per share for the current year.
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Oclaro Company Profile
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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