Brokerages expect Oclaro Inc (NASDAQ:OCLR) to report $120.22 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Oclaro’s earnings. The highest sales estimate is $126.80 million and the lowest is $111.40 million. Oclaro reported sales of $149.38 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 19.5%. The company is expected to issue its next earnings results on Wednesday, August 1st.
On average, analysts expect that Oclaro will report full year sales of $543.45 million for the current year, with estimates ranging from $533.60 million to $549.00 million. For the next fiscal year, analysts expect that the firm will post sales of $545.96 million per share, with estimates ranging from $511.90 million to $577.90 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Oclaro.
Oclaro (NASDAQ:OCLR) last released its quarterly earnings data on Tuesday, May 8th. The semiconductor company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.03. Oclaro had a net margin of 19.60% and a return on equity of 17.65%. The company had revenue of $127.30 million for the quarter, compared to analysts’ expectations of $124.37 million. During the same quarter last year, the company earned $0.23 earnings per share. The firm’s revenue for the quarter was down 21.5% on a year-over-year basis.
A number of analysts have weighed in on OCLR shares. Zacks Investment Research raised shares of Oclaro from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a report on Wednesday, April 11th. Northland Securities reissued a “buy” rating and set a $11.25 price objective on shares of Oclaro in a report on Tuesday, April 17th. ValuEngine cut shares of Oclaro from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 17th. MKM Partners lifted their target price on shares of Oclaro and gave the company a “buy” rating in a report on Wednesday, March 14th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $9.00 target price on shares of Oclaro in a report on Monday, June 11th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $10.55.
In related news, CEO Greg Dougherty sold 40,000 shares of Oclaro stock in a transaction on Monday, May 14th. The shares were sold at an average price of $9.26, for a total value of $370,400.00. Following the transaction, the chief executive officer now directly owns 1,292,535 shares in the company, valued at approximately $11,968,874.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Lisa Paul sold 5,000 shares of Oclaro stock in a transaction on Thursday, June 14th. The shares were sold at an average price of $9.08, for a total transaction of $45,400.00. Following the completion of the transaction, the executive vice president now owns 204,397 shares in the company, valued at $1,855,924.76. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Profund Advisors LLC grew its position in Oclaro by 24.0% in the 1st quarter. Profund Advisors LLC now owns 31,786 shares of the semiconductor company’s stock valued at $304,000 after buying an additional 6,148 shares during the last quarter. Legal & General Group Plc grew its position in Oclaro by 1.9% in the 1st quarter. Legal & General Group Plc now owns 346,304 shares of the semiconductor company’s stock valued at $3,293,000 after buying an additional 6,612 shares during the last quarter. Prudential Financial Inc. grew its position in Oclaro by 3.1% in the 1st quarter. Prudential Financial Inc. now owns 283,600 shares of the semiconductor company’s stock valued at $2,711,000 after buying an additional 8,620 shares during the last quarter. Swiss National Bank grew its position in Oclaro by 3.2% in the 4th quarter. Swiss National Bank now owns 282,100 shares of the semiconductor company’s stock valued at $1,901,000 after buying an additional 8,700 shares during the last quarter. Finally, Pinnacle Associates Ltd. grew its position in Oclaro by 4.6% in the 1st quarter. Pinnacle Associates Ltd. now owns 214,995 shares of the semiconductor company’s stock valued at $2,055,000 after buying an additional 9,410 shares during the last quarter. Hedge funds and other institutional investors own 71.79% of the company’s stock.
OCLR stock opened at $8.96 on Tuesday. Oclaro has a twelve month low of $5.61 and a twelve month high of $10.49. The company has a market cap of $1.52 billion, a price-to-earnings ratio of 11.91, a P/E/G ratio of 1.36 and a beta of 0.89.
Oclaro Company Profile
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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