The Oclaro Inc. (OCLR) Shares Bought by UBS Asset Management Americas Inc.

The Oclaro Inc. (OCLR) Shares Bought by UBS Asset Management Americas Inc.

UBS Asset Management Americas Inc. boosted its stake in shares of Oclaro Inc. (NASDAQ:OCLR) by 54.0% during the third quarter, Holdings Channel reports. The fund owned 70,999 shares of the company’s stock after buying an additional 24,899 shares during the period. UBS Asset Management Americas Inc.’s holdings in Oclaro were worth $607,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its position in Oclaro by 44.1% in the third quarter. Bank of New York Mellon Corp now owns 658,228 shares of the company’s stock valued at $5,628,000 after buying an additional 201,466 shares during the last quarter. Victory Capital Management Inc. increased its position in Oclaro by 198.3% in the third quarter. Victory Capital Management Inc. now owns 353,772 shares of the company’s stock valued at $3,025,000 after buying an additional 235,178 shares during the last quarter. Essex Investment Management Co. LLC increased its position in Oclaro by 135.1% in the third quarter. Essex Investment Management Co. LLC now owns 316,948 shares of the company’s stock valued at $2,710,000 after buying an additional 182,116 shares during the last quarter. Quantbot Technologies LP increased its position in Oclaro by 486.4% in the third quarter. Quantbot Technologies LP now owns 31,665 shares of the company’s stock valued at $270,000 after buying an additional 26,265 shares during the last quarter. Finally, State of Wisconsin Investment Board purchased a new position in Oclaro during the third quarter valued at approximately $5,558,000. Institutional investors and hedge funds own 61.88% of the company’s stock.

Shares of Oclaro Inc. (NASDAQ:OCLR) traded down 1.16% during midday trading on Friday, reaching $9.37. 6,953,603 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $8.75 and a 200-day moving average of $7.88. Oclaro Inc. has a one year low of $3.29 and a one year high of $10.19. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 74.37 and a beta of 2.03.

Oclaro (NASDAQ:OCLR) last announced its quarterly earnings results on Tuesday, November 1st. The company reported $0.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.04. The company earned $135.50 million during the quarter, compared to the consensus estimate of $131.65 million. Oclaro had a net margin of 3.39% and a return on equity of 14.48%. The firm’s quarterly revenue was up 54.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.02) earnings per share. On average, equities research analysts anticipate that Oclaro Inc. will post $0.60 earnings per share for the current year.

Several equities analysts recently commented on the company. Zacks Investment Research upgraded Oclaro from a “hold” rating to a “strong-buy” rating and set a $11.00 price objective on the stock in a research note on Saturday. Needham & Company LLC reiterated a “positive” rating and issued a $14.00 price objective on shares of Oclaro in a research note on Thursday. Jefferies Group upped their price objective on Oclaro from $11.25 to $13.25 and gave the company a “buy” rating in a research note on Thursday. B. Riley reiterated a “buy” rating and issued a $15.50 price objective on shares of Oclaro in a research note on Thursday. Finally, MKM Partners reiterated a “buy” rating on shares of Oclaro in a research note on Thursday, December 22nd. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $10.71.

In related news, EVP Lisa Paul sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of $8.79, for a total transaction of $43,950.00. Following the completion of the sale, the executive vice president now owns 207,474 shares of the company’s stock, valued at $1,823,696.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas Gordon Beck Mason sold 7,566 shares of the firm’s stock in a transaction that occurred on Tuesday, December 13th. The shares were sold at an average price of $8.35, for a total transaction of $63,176.10. Following the sale, the insider now directly owns 253,338 shares of the company’s stock, valued at approximately $2,115,372.30. The disclosure for this sale can be found here. 2.30% of the stock is owned by company insiders.

About Oclaro

Oclaro, Inc is a provider of optical components, modules and subsystems for the core optical transport, service provider, enterprise and data center markets. The Company provides various solutions for optical networks and interconnects driving the next wave of streaming video, cloud computing, application virtualization and other bandwidth-intensive and high-speed applications.

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