Hilltop Park Associates Exits Position in Oclaro (OCLR)

Oclaro (OCLR) : Hilltop Park Associates has sold out all of its stake in Oclaro during the most recent quarter, according to the disclosure filed by the company on Aug 8, 2016 with the SEC. The investment management company has sold out 200,000 shares of Oclaro which is valued at $1,240,000.

Other Hedge Funds, Including , Lebenthal Lisanti Capital Growth sold out all of its stake in OCLR during the most recent quarter. The investment firm sold 79,245 shares of OCLR which is valued $500,036. Quantitative Systematic Strategies sold out all of its stake in OCLR during the most recent quarter. The investment firm sold 47,889 shares of OCLR which is valued $274,404.Hood River Capital Management boosted its stake in OCLR in the latest quarter, The investment management firm added 330,850 additional shares and now holds a total of 4,434,828 shares of Oclaro which is valued at $25,411,564. Oclaro makes up approx 3.07% of Hood River Capital Management’s portfolio.

Oclaro opened for trading at $6.9 and hit $7.19 on the upside on Monday, eventually ending the session at $7.17, with a gain of 4.82% or 0.33 points. The heightened volatility saw the trading volume jump to 57,26,012 shares. Company has a market cap of $804 M.

On the company’s financial health, Oclaro reported $0.11 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.06. The company had revenue of $125.18 million for the quarter, compared to analysts expectations of $119.62 million. The company’s revenue was up 52.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.06 EPS.

Many Wall Street Analysts have commented on Oclaro. Company shares were Reiterated by MKM Partners on Aug 3, 2016 to “Buy”, Firm has raised the Price Target to $ 8 from a previous price target of $7 .Company shares were Upgraded by Needham on Jul 25, 2016 to ” Strong Buy”, Firm has raised the Price Target to $ 7.50 from a previous price target of $7 .

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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