1492 Capital Management Lowers stake in Oclaro (OCLR)

Oclaro (OCLR) : 1492 Capital Management reduced its stake in Oclaro by 8.3% during the most recent quarter end. The investment management company now holds a total of 840,126 shares of Oclaro which is valued at $4.2 Million after selling 76,071 shares in Oclaro , the firm said in a disclosure report filed with the SEC on May 11, 2016.Oclaro makes up approximately 3.62% of 1492 Capital Management’s portfolio.

Other Hedge Funds, Including , Amalgamated Bank added OCLR to its portfolio by purchasing 10,518 company shares during the most recent quarter which is valued at $52,695. Oclaro makes up approx 0.01% of Amalgamated Bank’s portfolio. Columbus Circle Investors added OCLR to its portfolio by purchasing 152,165 company shares during the most recent quarter which is valued at $721,262. Oclaro makes up approx 0.01% of Columbus Circle Investors’s portfolio.Thompson Davis reduced its stake in OCLR by selling 26,925 shares or 38.51% in the most recent quarter. The Hedge Fund company now holds 43,000 shares of OCLR which is valued at $203,820. Oclaro makes up approx 0.31% of Thompson Davis’s portfolio.

Oclaro closed down -0.19 points or -3.79% at $4.82 with 20,89,468 shares getting traded on Monday. Post opening the session at $5, the shares hit an intraday low of $4.8 and an intraday high of $5 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Oclaro reported $0.03 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Feb 2, 2016. Analyst had a consensus of $-0.01. The company had revenue of $94.10 million for the quarter, compared to analysts expectations of $91.49 million. The company’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.09 EPS.

Many Wall Street Analysts have commented on Oclaro. Company shares were Reiterated by Stifel on May 4, 2016 to “Buy”, Firm has raised the Price Target to $ 6.50 from a previous price target of $6 .Company shares were Reiterated by Needham on May 4, 2016 to “Buy”, Firm has raised the Price Target to $ 7 from a previous price target of $6.50 .Company shares were Reiterated by MKM Partners on May 4, 2016 to “Buy”, Firm has raised the Price Target to $ 6.50 from a previous price target of $6 .

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. Its product offerings include client side transceivers line side transceivers tunable laser transmitters lithium niobate modulators transponder modules and receivers. The Company supplies optical products including tunable lasers external modulators integrated lasers and modulators and receivers. The Company also supplies products at the module and subsystem levels including transceivers transponders and controlled subsystems.

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