Oclaro, Inc. (OCLR) Forecasted to Post Q1 2018 Earnings of $0.16 Per Share
Oclaro, Inc. (NASDAQ:OCLR) – Investment analysts at Jefferies Group issued their Q1 2018 earnings per share estimates for shares of Oclaro in a research note issued to investors on Wednesday. Jefferies Group analyst G. Notter anticipates that the semiconductor company will post earnings of $0.16 per share for the quarter. Jefferies Group has a “Buy” rating and a $12.50 price objective on the stock. Jefferies Group also issued estimates for Oclaro’s Q2 2018 earnings at $0.16 EPS, Q3 2018 earnings at $0.12 EPS, Q4 2018 earnings at $0.17 EPS, FY2018 earnings at $0.61 EPS and Q2 2019 earnings at $0.27 EPS.
A number of other research analysts have also recently issued reports on the stock. Cowen and Company reaffirmed an “outperform” rating and issued a $14.00 target price (up from $13.00) on shares of Oclaro in a report on Thursday, August 3rd. Northland Securities reaffirmed a “buy” rating and issued a $12.75 target price on shares of Oclaro in a report on Friday, September 15th. Zacks Investment Research cut shares of Oclaro from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Needham & Company LLC cut shares of Oclaro from a “strong-buy” rating to a “buy” rating and dropped their price objective for the stock from $14.00 to $9.00 in a research note on Thursday, November 2nd. Finally, ValuEngine cut shares of Oclaro from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Oclaro currently has a consensus rating of “Buy” and an average price target of $12.67.
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Oclaro (NASDAQ OCLR) traded up $0.22 during midday trading on Monday, reaching $6.18. 5,591,147 shares of the company’s stock traded hands, compared to its average volume of 5,700,000. Oclaro has a one year low of $5.86 and a one year high of $11.30. The firm has a market capitalization of $1,010.00, a P/E ratio of 7.92, a PEG ratio of 0.85 and a beta of 1.41.
Oclaro (NASDAQ:OCLR) last released its quarterly earnings data on Wednesday, November 1st. The semiconductor company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.02. Oclaro had a net margin of 24.31% and a return on equity of 28.11%. The company had revenue of $155.60 million during the quarter, compared to the consensus estimate of $154.51 million. During the same quarter in the prior year, the firm posted $0.14 earnings per share. Oclaro’s revenue for the quarter was up 14.8% on a year-over-year basis.
A number of hedge funds have recently added to or reduced their stakes in OCLR. BlackRock Inc. lifted its stake in Oclaro by 120.0% during the second quarter. BlackRock Inc. now owns 16,827,106 shares of the semiconductor company’s stock valued at $157,166,000 after purchasing an additional 9,177,551 shares during the last quarter. Neumeier Poma Investment Counsel LLC acquired a new stake in shares of Oclaro during the second quarter valued at approximately $14,066,000. ING Groep NV acquired a new stake in shares of Oclaro during the second quarter valued at approximately $13,957,000. State Street Corp raised its holdings in shares of Oclaro by 54.0% during the second quarter. State Street Corp now owns 3,841,177 shares of the semiconductor company’s stock valued at $35,877,000 after acquiring an additional 1,346,216 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Oclaro by 17.9% during the second quarter. Vanguard Group Inc. now owns 8,326,122 shares of the semiconductor company’s stock valued at $77,766,000 after acquiring an additional 1,265,269 shares during the period. 70.18% of the stock is owned by institutional investors and hedge funds.
In other news, CEO Greg Dougherty sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $9.12, for a total value of $364,800.00. Following the completion of the sale, the chief executive officer now directly owns 1,441,386 shares of the company’s stock, valued at approximately $13,145,440.32. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Lisa Paul sold 12,182 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $8.45, for a total transaction of $102,937.90. Following the completion of the sale, the executive vice president now directly owns 246,090 shares of the company’s stock, valued at $2,079,460.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 85,183 shares of company stock valued at $747,174. Insiders own 2.00% of the company’s stock.
Oclaro, Inc is a provider of optical components, modules and subsystems for the core optical transport, service provider, enterprise and data center markets. The Company provides various solutions for optical networks and interconnects driving the next wave of streaming video, cloud computing, application virtualization and other bandwidth-intensive and high-speed applications.
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