Quentec Asset Management buys $8,890,748 stake in Oclaro (OCLR)

Oclaro (OCLR) : Quentec Asset Management scooped up 354,712 additional shares in Oclaro during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 1,299,817 shares of Oclaro which is valued at $8,890,748.Oclaro makes up approximately 1.97% of Quentec Asset Management’s portfolio.

Other Hedge Funds, Including , Two Sigma Advisers Lp reduced its stake in OCLR by selling 242,176 shares or 38.93% in the most recent quarter. The Hedge Fund company now holds 379,952 shares of OCLR which is valued at $2,598,872. Oclaro makes up approx 0.01% of Two Sigma Advisers Lp’s portfolio.Engineers Gate Manager Lp reduced its stake in OCLR by selling 240,480 shares or 52.85% in the most recent quarter. The Hedge Fund company now holds 214,561 shares of OCLR which is valued at $1,467,597. Oclaro makes up approx 0.10% of Engineers Gate Manager Lp’s portfolio. Ubs Asset Management Americas Inc added OCLR to its portfolio by purchasing 46,100 company shares during the most recent quarter which is valued at $285,820.

Oclaro closed down -0.01 points or -0.12% at $8.49 with 3,969,648 shares getting traded on Wednesday. Post opening the session at $8.64, the shares hit an intraday low of $8.44 and an intraday high of $8.72 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

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 Stifel on Sep 6, 2016 to “Buy”, Firm has raised the Price Target to $ 10 from a previous price target of $7.50 .Company shares were Reiterated by Needham on Aug 30, 2016 to “Strong Buy”, Firm has raised the Price Target to $ 10 from a previous price target of $8 .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 .

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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