Oclaro Inc (NASDAQ:OCLR) – Research analysts at DA Davidson decreased their FY2018 earnings per share estimates for Oclaro in a research report issued on Tuesday. DA Davidson analyst M. Kelleher now expects that the semiconductor company will post earnings of $0.42 per share for the year, down from their previous estimate of $0.50. DA Davidson currently has a “Buy” rating and a $9.00 target price on the stock. DA Davidson also issued estimates for Oclaro’s Q2 2019 earnings at $0.09 EPS, Q3 2019 earnings at $0.11 EPS, Q4 2019 earnings at $0.12 EPS and FY2019 earnings at $0.41 EPS.
A number of other research firms also recently commented on OCLR. Craig Hallum downgraded shares of Oclaro from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Needham & Company LLC lowered Oclaro from a “strong-buy” rating to a “buy” rating and decreased their price objective for the company from $14.00 to $9.00 in a research note on Thursday, November 2nd. Jefferies Group reiterated a “buy” rating and set a $12.50 price objective on shares of Oclaro in a research note on Wednesday, November 1st. Northland Securities restated a “buy” rating and issued a $12.75 target price on shares of Oclaro in a research note on Wednesday, November 1st. Finally, ValuEngine upgraded Oclaro from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $10.18.
Oclaro (NASDAQ:OCLR) last released its quarterly earnings data on Monday, February 5th. The semiconductor company reported $0.14 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.02. The company had revenue of $139.30 million during the quarter, compared to the consensus estimate of $138.83 million. Oclaro had a net margin of 23.00% and a return on equity of 23.17%. Oclaro’s quarterly revenue was down 9.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.21 EPS.
In other news, CAO Michael H. Fernicola sold 7,016 shares of the company’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $6.21, for a total value of $43,569.36. Following the completion of the transaction, the chief accounting officer now directly owns 81,378 shares in the company, valued at approximately $505,357.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas Gordon Beck Mason sold 39,255 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $7.22, for a total value of $283,421.10. Following the completion of the transaction, the insider now owns 171,226 shares of the company’s stock, valued at $1,236,251.72. The disclosure for this sale can be found here. Insiders sold a total of 51,271 shares of company stock valued at $364,240 over the last quarter. Company insiders own 2.00% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. ProShare Advisors LLC boosted its holdings in Oclaro by 28.3% during the 2nd quarter. ProShare Advisors LLC now owns 16,531 shares of the semiconductor company’s stock valued at $154,000 after acquiring an additional 3,650 shares during the period. Advisor Group Inc. raised its position in Oclaro by 26.6% during the 2nd quarter. Advisor Group Inc. now owns 22,945 shares of the semiconductor company’s stock valued at $214,000 after purchasing an additional 4,820 shares during the last quarter. Ameritas Investment Partners Inc. raised its position in Oclaro by 53.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 14,542 shares of the semiconductor company’s stock valued at $136,000 after purchasing an additional 5,057 shares during the last quarter. Cubist Systematic Strategies LLC raised its position in Oclaro by 52.3% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 22,520 shares of the semiconductor company’s stock valued at $210,000 after purchasing an additional 7,730 shares during the last quarter. Finally, Bridge City Capital LLC raised its position in Oclaro by 8.7% during the 3rd quarter. Bridge City Capital LLC now owns 98,182 shares of the semiconductor company’s stock valued at $847,000 after purchasing an additional 7,863 shares during the last quarter. Institutional investors own 70.69% of the company’s stock.
Oclaro Company Profile
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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