Hood River Capital Management buys $19,452,856 stake in Oclaro (OCLR)

Oclaro (OCLR) : Hood River Capital Management scooped up 1,297,744 additional shares in Oclaro during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 3, 2016. The investment management firm now holds a total of 4,103,978 shares of Oclaro which is valued at $19,452,856.Oclaro makes up approximately 2.69% of Hood River Capital Management’s portfolio.

Other Hedge Funds, Including , Gilder Gagnon Howe Co added OCLR to its portfolio by purchasing 1,616,006 company shares during the most recent quarter which is valued at $7,659,868. Oclaro makes up approx 0.15% of Gilder Gagnon Howe Co’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. Quantbot Technologies Lp added OCLR to its portfolio by purchasing 25,922 company shares during the most recent quarter which is valued at $130,906. Oclaro makes up approx 0.02% of Quantbot Technologies Lp’s portfolio. K.j. Harrison Partners Inc added OCLR to its portfolio by purchasing 40,000 company shares during the most recent quarter which is valued at $202,000. Oclaro makes up approx 0.11% of K.j. Harrison Partners Inc’s portfolio. Glenmede Trust Co Na added OCLR to its portfolio by purchasing 302 company shares during the most recent quarter which is valued at $1,525.

Oclaro opened for trading at $4.73 and hit $4.84 on the upside on Tuesday, eventually ending the session at $4.82, with a gain of 2.12% or 0.1 points. The heightened volatility saw the trading volume jump to 46,17,330 shares. Company has a market cap of $541 M.

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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