Oclaro Inc (OCLR) Position Raised by Alpine Associates Management Inc.

Alpine Associates Management Inc. boosted its stake in Oclaro Inc (NASDAQ:OCLR) by 24.7% in the third quarter, Holdings Channel reports. The firm owned 3,483,498 shares of the semiconductor company’s stock after acquiring an additional 689,383 shares during the period. Oclaro accounts for about 0.9% of Alpine Associates Management Inc.’s holdings, making the stock its 28th biggest position. Alpine Associates Management Inc.’s holdings in Oclaro were worth $31,142,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Gamco Investors INC. ET AL bought a new stake in shares of Oclaro in the third quarter worth about $133,000. Public Employees Retirement Association of Colorado increased its holdings in shares of Oclaro by 109.5% in the third quarter. Public Employees Retirement Association of Colorado now owns 18,153 shares of the semiconductor company’s stock worth $162,000 after acquiring an additional 9,487 shares in the last quarter. New Jersey Better Educational Savings Trust bought a new stake in shares of Oclaro in the second quarter worth about $179,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Oclaro in the second quarter worth about $266,000. Finally, Mint Tower Capital Management B.V. bought a new stake in shares of Oclaro in the third quarter worth about $267,000. Institutional investors and hedge funds own 71.09% of the company’s stock.

NASDAQ:OCLR opened at $7.54 on Friday. The stock has a market cap of $1.31 billion, a P/E ratio of 17.14, a PEG ratio of 1.26 and a beta of 0.61. Oclaro Inc has a 52-week low of $5.61 and a 52-week high of $10.20.

Oclaro (NASDAQ:OCLR) last posted its quarterly earnings data on Thursday, November 8th. The semiconductor company reported $0.07 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.07. The business had revenue of $131.66 million during 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%. On average, analysts anticipate that Oclaro Inc will post 0.3 EPS for the current year.

Several equities research analysts have issued reports on OCLR shares. BidaskClub downgraded Oclaro from a “hold” rating to a “sell” rating in a report on Thursday, September 6th. ValuEngine upgraded Oclaro from a “hold” rating to a “buy” rating in a report on Friday, August 10th. Finally, Zacks Investment Research downgraded Oclaro from a “hold” rating to a “sell” rating in a report on Thursday, November 15th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $9.48.

COPYRIGHT VIOLATION WARNING: “Oclaro Inc (OCLR) Position Raised by Alpine Associates Management Inc.” was first posted by WKRB News and is owned by of WKRB News. If you are reading this news story on another website, it was illegally copied and reposted in violation of international copyright & trademark laws. The original version of this news story can be read at https://www.wkrb13.com/2018/11/23/oclaro-inc-oclr-position-raised-by-alpine-associates-management-inc.html.

Oclaro 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.

Further Reading: Cost of Equity

Want to see what other hedge funds are holding OCLR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Oclaro Inc (NASDAQ:OCLR).

Institutional Ownership by Quarter for Oclaro (NASDAQ:OCLR)

Receive News & Ratings for Oclaro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oclaro and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply