B. Riley Comments on Oclaro Inc.’s Q2 2018 Earnings (OCLR)
Oclaro Inc. (NASDAQ:OCLR) – Analysts at B. Riley upped their Q2 2018 EPS estimates for Oclaro in a research note issued on Thursday. B. Riley analyst D. Kang now expects that the firm will post earnings of $0.13 per share for the quarter, up from their previous estimate of $0.12. B. Riley has a “Buy” rating and a $11.00 price target on the stock. B. Riley also issued estimates for Oclaro’s Q3 2018 earnings at $0.12 EPS, Q4 2018 earnings at $0.14 EPS and FY2018 earnings at $0.49 EPS.
OCLR has been the topic of several other research reports. Zacks Investment Research lowered Oclaro from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Stifel Nicolaus lifted their price target on Oclaro from $7.50 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, September 6th. Vetr lowered Oclaro from a “strong-buy” rating to a “buy” rating and set a $8.25 price target on the stock. in a report on Monday, August 22nd. Jefferies Group initiated coverage on Oclaro in a report on Monday, October 3rd. They set a “buy” rating and a $11.25 price target on the stock. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and set a $9.00 price target on shares of Oclaro in a report on Wednesday, September 7th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $8.78.
Shares of Oclaro (NASDAQ:OCLR) traded down 2.49% on Friday, reaching $8.99. 2,596,843 shares of the company’s stock traded hands. The firm’s 50 day moving average is $8.40 and its 200 day moving average is $6.03. Oclaro has a 52 week low of $2.37 and a 52 week high of $9.34. The firm has a market capitalization of $1.33 billion, a P/E ratio of 115.26 and a beta of 1.82.
Oclaro (NASDAQ:OCLR) last issued its earnings results on Wednesday, August 3rd. The company reported $0.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.05. Oclaro had a net margin of 2.10% and a return on equity of 6.24%. The company had revenue of $125.20 million for the quarter, compared to analysts’ expectations of $119.41 million. During the same period in the prior year, the business earned ($0.06) EPS. The firm’s quarterly revenue was up 52.3% on a year-over-year basis.
Several institutional investors have recently made changes to their positions in OCLR. Algert Global LLC bought a new position in shares of Oclaro during the first quarter worth approximately $150,000. Blue Rock Advisors LLC acquired a new position in shares of Oclaro during the first quarter worth about $350,000. Menta Capital LLC increased its position in shares of Oclaro by 39.1% in the first quarter. Menta Capital LLC now owns 84,723 shares of the company’s stock worth $458,000 after buying an additional 23,800 shares during the period. Spark Investment Management LLC increased its position in shares of Oclaro by 122.0% in the first quarter. Spark Investment Management LLC now owns 1,025,900 shares of the company’s stock worth $5,539,000 after buying an additional 563,800 shares during the period. Finally, Wellington Management Group LLP acquired a new position in shares of Oclaro during the first quarter worth about $7,976,000. 62.49% of the stock is owned by institutional investors and hedge funds.
In other news, EVP Lisa Paul sold 9,363 shares of the business’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $7.69, for a total transaction of $72,001.47. Following the completion of the transaction, the executive vice president now directly owns 218,264 shares of the company’s stock, valued at $1,678,450.16. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Adam Carter sold 19,506 shares of the business’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $6.00, for a total value of $117,036.00. Following the transaction, the insider now directly owns 202,584 shares of the company’s stock, valued at $1,215,504. The disclosure for this sale can be found here. 2.30% of the stock is owned by company insiders.
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.
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