Trading Report: The Emerald Acquisition Ltd. Acquires New Position in Oclaro Inc. (OCLR)

The Emerald Acquisition Ltd. Acquires New Position in Oclaro Inc. (OCLR)

Emerald Acquisition Ltd. acquired a new position in shares of Oclaro Inc. (NASDAQ:OCLR) during the second quarter, according to its most recent filing with the SEC. The firm acquired 241,957 shares of the company’s stock, valued at approximately $1,181,000. Emerald Acquisition Ltd. owned approximately 0.22% of Oclaro as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Wellington Management Group LLP purchased a new stake in shares of Oclaro during the first quarter worth approximately $7,976,000. Kennedy Capital Management Inc. purchased a new stake in shares of Oclaro during the first quarter worth approximately $5,279,000. Bogle Investment Management L P DE purchased a new stake in shares of Oclaro during the first quarter worth approximately $5,068,000. Spark Investment Management LLC increased its stake in shares of Oclaro by 122.0% in the first quarter. Spark Investment Management LLC now owns 1,025,900 shares of the company’s stock worth $5,539,000 after buying an additional 563,800 shares during the last quarter. Finally, Summit Partners Public Asset Management LLC purchased a new stake in shares of Oclaro during the first quarter worth approximately $2,160,000. Hedge funds and other institutional investors own 62.49% of the company’s stock.

Oclaro Inc. (NASDAQ:OCLR) traded down 2.49% during mid-day trading on Friday, reaching $8.99. 2,596,843 shares of the company’s stock traded hands. Oclaro Inc. has a 52-week low of $2.37 and a 52-week high of $9.34. The company has a 50-day moving average of $8.40 and a 200-day moving average of $6.03. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 115.26 and a beta of 1.82.

Oclaro (NASDAQ:OCLR) last posted its earnings results on Wednesday, August 3rd. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. The firm earned $125.20 million during the quarter, compared to analyst estimates of $119.41 million. Oclaro had a net margin of 2.10% and a return on equity of 6.24%. Oclaro’s revenue was up 52.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.06) EPS. Equities research analysts expect that Oclaro Inc. will post $0.39 EPS for the current year.

OCLR has been the subject of a number of recent analyst reports. Needham & Company LLC reduced their price objective on shares of Oclaro from $10.00 to $8.00 and set a “strong-buy” rating for the company in a research report on Tuesday, August 30th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $6.75 target price on shares of Oclaro in a report on Monday, August 1st. Jefferies Group began coverage on shares of Oclaro in a report on Monday, October 3rd. They issued a “buy” rating and a $11.25 target price for the company. Vetr cut shares of Oclaro from a “strong-buy” rating to a “buy” rating and set a $8.25 target price for the company. in a report on Monday, August 22nd. Finally, Stifel Nicolaus increased their target price on shares of Oclaro from $6.50 to $7.50 and gave the company a “buy” rating in a report on Wednesday, August 3rd. Two analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. Oclaro presently has an average rating of “Buy” and an average price target of $8.78.

In related news, insider Adam Carter sold 19,506 shares of the stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $6.00, for a total transaction of $117,036.00. Following the completion of the sale, the insider now directly owns 202,584 shares of the company’s stock, valued at $1,215,504. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Lisa Paul sold 9,363 shares of the stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $7.69, for a total transaction of $72,001.47. Following the sale, the executive vice president now directly owns 218,264 shares of the company’s stock, valued at $1,678,450.16. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.

Oclaro Company Profile

Oclaro, Inc is a provider of optical components, modules and subsystems for the optical transport, service provider, enterprise and data center markets. The Company supplies optical network technology to telecommunication and data communication equipment companies across the world. The Company designs, manufactures and markets optical components, modules and subsystems that generate, detect, combine and separate light signals in optical communications networks.

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