Published: Sat, August 12, 2017
Business | By Max Garcia

Buys New Position in Oclaro, Inc. (NASDAQ:OCLR)

NY now owns 73,515 shares of the semiconductor company's stock valued at $722,000 after buying an additional 2,453 shares during the period.

Several other research firms have also recently issued reports on OCLR. Park Avenue Securities LLC acquired a new stake in shares of Oclaro during the first quarter worth $104,000. Emerald Advisers Inc. PA bought a new position in shares of Oclaro during the first quarter worth $13,079,000. Envestnet Asset Management Inc. purchased a new stake in shares of Oclaro during the first quarter worth about $160,000. NY boosted its position in shares of Oclaro by 3.5% in the first quarter. Suntrust Banks Inc. now owns 19,133 shares of the semiconductor company's stock valued at $187,000 after buying an additional 355 shares during the period. Oclaro has a 52 week low of $6.27 and a 52 week high of $11.30. Oclaro, Inc. (OCLR) average trading volume of 8,852,185 during the past month is 0.57% below its average volume over the past year, indicating that investors have been less active than usual in the stock in recent times. Shares are now up +35.36% over the past year, outperforming the broad market by 165.47% and underperformed a peer group of similar companies by -39%. This company shares are 51.92% off its target price of $12.64 and the current market capitalization stands at $1.51B. During the day, the stock price traveled from $8.31 to $8.8.

Oclaro (NASDAQ:OCLR) last issued its quarterly earnings results on Wednesday, August 2nd. In the last earnings report the EPS was $0.77 and is projected to be $0.74 for the current year with 167,348,000 shares outstanding. The business's revenue for the quarter was up 19.3% compared to the same quarter a year ago. The company had revenue of $149.38 million during the quarter, compared to analyst estimates of $148.04 million.

Previously on 06/23/2017, DA Davidson reported about Oclaro, Inc. Allianz Asset Management Ag invested in 0.01% or 695,110 shares.

Consequently Oclaro Inc (NASDAQ:OCLR)'s weekly and monthly volatility is 6.80%, 5.12% respectively.

WARNING: This news story was published by Community Financial News and is the sole property of of Community Financial News. If you are reading this story on another domain, it was illegally stolen and reposted in violation of United States & worldwide copyright & trademark legislation. The legal version of this news story can be viewed at (NASDAQ:OCLR) earned "Buy" rating by Piper Jaffray on Wednesday, August 2. They set a "buy" rating and a $12.00 target price for the company. Needham & Company LLC reiterated a "strong-buy" rating and set a $14.00 price target on shares of Oclaro in a research report on Thursday, August 3rd. Rosenblatt Securities initiated coverage on Oclaro in a research report on Wednesday, May 17th. Two investment analysts have rated the stock with a sell rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Considering that the stock daily volume of 9.56 million shares, this represents a pretty noteworthy trading in volume size in recent session. The stock exchanged hands 7.87 Million shares versus average trading capacity of 9.34 Million shares. Following the completion of the transaction, the executive vice president now owns 183,460 shares in the company, valued at approximately $1,682,328.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

In related news, insider Thomas Gordon Beck Mason sold 32,352 shares of Oclaro stock in a transaction dated Tuesday, May 16th. OCLR stock price revealed pessimistic move of -4.96% comparing average price of last 200 days. Axa now holds 357,700 shares with a value of $3,341,000. The disclosure for this sale can be found here. In the past three months the stock value plunged -2.80%.

According to Zacks, "Oclaro, with headquarters in San Jose, California, is a tier 1 provider of high performance optical components, modules and subsystems to the telecommunications market, and is one of the largest providers to metro and long haul network applications".

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