32,666 Shares in Opera Limited Sponsored ADR (NASDAQ:OPRA) Bought by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank acquired 32,666 shares of Opera Limited Sponsored ADR, valued at approximately $521,000, during the 1st quarter.
• Notable analyst upgrades have occurred, with Goldman Sachs lowering its price target from $26.00 to $22.50, while Lake Street Capital raised their target from $23.00 to $24.00, maintaining a "buy" rating.
• Opera recently announced a semi-annual $0.40 dividend, resulting in a dividend yield of 410.0%, with a payout ratio of 82.98%.

Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Opera Limited Sponsored ADR (NASDAQ:OPRA - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 32,666 shares of the company's stock, valued at approximately $521,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. TD Asset Management Inc acquired a new stake in Opera during the 1st quarter worth about $279,000. Cetera Investment Advisers lifted its position in Opera by 5.4% during the 1st quarter. Cetera Investment Advisers now owns 30,116 shares of the company's stock worth $480,000 after acquiring an additional 1,535 shares during the period. Calton & Associates Inc. acquired a new stake in Opera during the 1st quarter worth about $51,000. SBI Securities Co. Ltd. lifted its position in Opera by 56.7% during the 1st quarter. SBI Securities Co. Ltd. now owns 10,992 shares of the company's stock worth $175,000 after acquiring an additional 3,976 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its position in Opera by 24.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 17,000 shares of the company's stock worth $271,000 after acquiring an additional 3,300 shares during the period. 10.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on OPRA. The Goldman Sachs Group lowered their price target on Opera from $26.00 to $22.50 and set a "buy" rating for the company in a research report on Monday, April 14th. Lake Street Capital lifted their price target on Opera from $23.00 to $24.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Wedbush reaffirmed an "outperform" rating on shares of Opera in a research report on Tuesday, July 8th. Finally, Wall Street Zen raised Opera from a "hold" rating to a "buy" rating in a research report on Saturday, May 24th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $24.90.

Opera Stock Performance

Shares of OPRA stock opened at $16.27 on Friday. The stock has a market cap of $1.46 billion, a PE ratio of 17.31 and a beta of 0.96. The business has a 50-day simple moving average of $18.19 and a 200-day simple moving average of $17.77. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 0.01. Opera Limited Sponsored ADR has a 52-week low of $11.95 and a 52-week high of $22.50.

Opera Announces Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 8th were issued a $0.40 dividend. This represents a dividend yield of 410.0%. The ex-dividend date of this dividend was Tuesday, July 8th. Opera's payout ratio is 82.98%.

Opera Profile

Opera Limited, together with its subsidiaries, provides mobile and PC web browsers and related products and services in Norway and internationally. The company offers mobile browser products, such as Opera Mini, Opera browser for Android and iOS, and Opera GX for PCs and Mobile; Opera Touch; PC browsers, including Opera for Computers and Opera GX; Apex Football; Opera VPN Pro; and Opera News, an AI-powered personalized news discovery and aggregation service.

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