Oclaro (NASDAQ:OCLR) announced its quarterly earnings results on Monday, February 5th. The semiconductor company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02, Bloomberg Earnings reports. Oclaro had a return on equity of 23.17% and a net margin of 23.00%. The firm had revenue of $139.30 million for the quarter, compared to analysts’ expectations of $138.83 million. During the same period in the prior year, the business posted $0.21 earnings per share. The business’s revenue was down 9.5% compared to the same quarter last year.
Shares of Oclaro (NASDAQ OCLR) opened at $6.41 on Tuesday. The company has a market capitalization of $1,080.00, a price-to-earnings ratio of 7.82, a PEG ratio of 1.17 and a beta of 1.14. Oclaro has a 1-year low of $5.61 and a 1-year high of $11.30.
A number of analysts have weighed in on OCLR shares. Cowen reiterated a “buy” rating on shares of Oclaro in a research report on Friday, November 3rd. Needham & Company LLC cut Oclaro from a “strong-buy” rating to a “buy” rating and lowered their price target for the company from $14.00 to $9.00 in a research report on Thursday, November 2nd. Northland Securities reiterated a “buy” rating and issued a $12.75 price target on shares of Oclaro in a research report on Wednesday, November 1st. Craig Hallum cut Oclaro from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. Finally, DA Davidson reiterated a “buy” rating and issued a $11.00 price target on shares of Oclaro in a research report on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Oclaro currently has an average rating of “Buy” and an average price target of $10.18.
In related news, insider Thomas Gordon Beck Mason sold 39,255 shares of the firm’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 transaction, the insider now owns 171,226 shares in the company, valued at $1,236,251.72. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Lisa Paul sold 5,000 shares of the firm’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $7.45, for a total value of $37,250.00. Following the completion of the transaction, the executive vice president now owns 232,950 shares in the company, valued at approximately $1,735,477.50. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.
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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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