Oclaro, Inc. (NASDAQ:OCLR) – Research analysts at B. Riley lowered their Q3 2018 earnings per share (EPS) estimates for Oclaro in a note issued to investors on Thursday. B. Riley analyst D. Kang now expects that the semiconductor company will post earnings per share of $0.08 for the quarter, down from their prior forecast of $0.13. B. Riley currently has a “Buy” rating and a $11.75 target price on the stock. B. Riley also issued estimates for Oclaro’s Q4 2018 earnings at $0.10 EPS.
Oclaro (NASDAQ:OCLR) last announced its earnings results on Wednesday, November 1st. The semiconductor company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.02. Oclaro had a return on equity of 28.11% and a net margin of 24.31%. The firm had revenue of $155.60 million during the quarter, compared to analyst estimates of $154.51 million. During the same quarter in the prior year, the company earned $0.14 EPS. The business’s revenue was up 14.8% compared to the same quarter last year.
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Several other brokerages have also issued reports on OCLR. MKM Partners reissued a “buy” rating and issued a $12.00 target price (up previously from $10.50) on shares of Oclaro in a research report on Wednesday, July 26th. BidaskClub lowered Oclaro from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $21.00 price objective (down previously from $35.00) on shares of Oclaro in a research report on Thursday, July 13th. Stifel Nicolaus reaffirmed a “buy” rating and set a $12.00 price objective (up previously from $10.00) on shares of Oclaro in a research report on Monday, July 10th. Finally, Needham & Company LLC reaffirmed a “strong-buy” rating and set a $14.00 price objective on shares of Oclaro in a research report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $12.67.
Shares of Oclaro (NASDAQ OCLR) traded down $0.12 during trading hours on Monday, hitting $6.07. The stock had a trading volume of 3,904,955 shares, compared to its average volume of 5,620,000. Oclaro has a 12-month low of $5.86 and a 12-month high of $11.30. The company has a market cap of $1,030.00, a price-to-earnings ratio of 7.94, a P/E/G ratio of 0.70 and a beta of 1.41.
In other Oclaro news, EVP David Teichmann sold 20,132 shares of the stock in a transaction on Friday, August 11th. The stock was sold at an average price of $8.37, for a total transaction of $168,504.84. Following the sale, the executive vice president now directly owns 422,126 shares in the company, valued at approximately $3,533,194.62. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michael H. Fernicola sold 12,869 shares of the stock in a transaction on Monday, August 14th. The shares were sold at an average price of $8.62, for a total value of $110,930.78. Following the sale, the insider now owns 106,225 shares in the company, valued at $915,659.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 85,183 shares of company stock worth $747,174. Company insiders own 2.00% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of OCLR. UBS Asset Management Americas Inc. boosted its stake in Oclaro by 20.9% during the 1st quarter. UBS Asset Management Americas Inc. now owns 57,069 shares of the semiconductor company’s stock valued at $560,000 after purchasing an additional 9,870 shares during the last quarter. Karp Capital Management Corp purchased a new position in shares of Oclaro in the 1st quarter worth $203,000. California Public Employees Retirement System boosted its stake in shares of Oclaro by 1.7% in the 1st quarter. California Public Employees Retirement System now owns 250,224 shares of the semiconductor company’s stock worth $2,457,000 after buying an additional 4,300 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Oclaro by 20.2% in the 1st quarter. Vanguard Group Inc. now owns 7,060,853 shares of the semiconductor company’s stock worth $69,337,000 after buying an additional 1,186,225 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Oclaro by 16.8% in the 1st quarter. Geode Capital Management LLC now owns 1,748,865 shares of the semiconductor company’s stock worth $17,173,000 after buying an additional 251,717 shares during the last quarter. Institutional investors and hedge funds own 70.18% 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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