Wall Street brokerages expect that Oclaro Inc. (NASDAQ:OCLR) will post $123.58 million in sales for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Oclaro’s earnings. The highest sales estimate is $130.60 million and the lowest is $111.40 million. Oclaro posted sales of $149.38 million during the same quarter last year, which would indicate a negative year over year growth rate of 17.3%. The company is expected to announce its next earnings results on Wednesday, August 1st.
On average, analysts expect that Oclaro will report full year sales of $545.16 million for the current financial year, with estimates ranging from $533.60 million to $549.90 million. For the next year, analysts anticipate that the business will report sales of $558.47 million per share, with estimates ranging from $511.90 million to $600.00 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Oclaro.
Oclaro (NASDAQ:OCLR) last issued its earnings results on Tuesday, May 8th. The semiconductor company reported $0.11 EPS for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.03. The business had revenue of $127.30 million for the quarter, compared to analyst estimates of $124.37 million. Oclaro had a net margin of 19.60% and a return on equity of 17.65%. The company’s quarterly revenue was down 21.5% compared to the same quarter last year. During the same period last year, the company posted $0.23 earnings per share.
A number of equities analysts have recently commented on OCLR shares. UBS started coverage on shares of Oclaro in a research report on Wednesday, January 31st. They set a “sell” rating and a $5.50 target price on the stock. Loop Capital started coverage on shares of Oclaro in a research report on Monday, January 29th. They set a “buy” rating and a $10.00 target price on the stock. Raymond James reiterated a “market perform” rating and set a $12.00 price objective on shares of Oclaro in a research note on Tuesday, March 13th. Stifel Nicolaus dropped their price objective on shares of Oclaro from $10.00 to $8.50 and set a “buy” rating on the stock in a research note on Wednesday, January 24th. Finally, Zacks Investment Research downgraded shares of Oclaro from a “buy” rating to a “hold” rating in a research note on Thursday, April 19th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $10.55.
Shares of Oclaro traded down $0.01, reaching $8.88, during trading on Friday, MarketBeat.com reports. 2,018,950 shares of the company were exchanged, compared to its average volume of 2,774,209. The firm has a market cap of $1.51 billion, a PE ratio of 11.84, a price-to-earnings-growth ratio of 1.59 and a beta of 0.75. Oclaro has a 12-month low of $5.61 and a 12-month high of $10.93.
In other Oclaro news, EVP David Teichmann sold 9,474 shares of the firm’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $10.00, for a total value of $94,740.00. Following the completion of the sale, the executive vice president now directly owns 314,869 shares in the company, valued at $3,148,690. The sale was disclosed in a legal filing 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 that occurred on Thursday, March 15th. The shares were sold at an average price of $10.10, for a total transaction of $50,500.00. Following the completion of the sale, the executive vice president now owns 216,886 shares of the company’s stock, valued at $2,190,548.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 134,474 shares of company stock worth $1,298,840. Insiders own 2.00% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Royal Bank of Canada boosted its stake in Oclaro by 6.7% in the first quarter. Royal Bank of Canada now owns 358,500 shares of the semiconductor company’s stock valued at $3,426,000 after acquiring an additional 22,403 shares in the last quarter. Legal & General Group Plc boosted its stake in Oclaro by 1.9% in the first quarter. Legal & General Group Plc now owns 346,304 shares of the semiconductor company’s stock valued at $3,293,000 after acquiring an additional 6,612 shares in the last quarter. Highland Capital Management LP acquired a new stake in Oclaro in the first quarter valued at approximately $922,000. Guggenheim Capital LLC boosted its stake in Oclaro by 19.9% in the first quarter. Guggenheim Capital LLC now owns 697,957 shares of the semiconductor company’s stock valued at $6,672,000 after acquiring an additional 115,746 shares in the last quarter. Finally, Jane Street Group LLC boosted its stake in Oclaro by 58.0% in the first quarter. Jane Street Group LLC now owns 178,931 shares of the semiconductor company’s stock valued at $1,711,000 after acquiring an additional 65,714 shares in the last quarter. Institutional investors own 64.50% of the company’s stock.
Oclaro, Inc designs, manufactures, and markets optical components, modules, and subsystems for the long-haul, metro, and data center markets worldwide. The company's products generate, detect, combine, and separate light signals in optical communications networks. It offers client side transceivers, including pluggable transceivers; line side transceivers; tunable laser transmitters, such as discrete lasers and co-packaged laser modulators; lithium niobate modulators to manipulate the phase or the amplitude of an optical signal; transponder modules for transmitter and receiver functions; and discrete lasers and receivers for metro and long-haul applications.
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