Equities research analysts expect that Oclaro Inc (NASDAQ:OCLR) will post $128.15 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Oclaro’s earnings, with the highest sales estimate coming in at $129.74 million and the lowest estimate coming in at $126.50 million. Oclaro posted sales of $155.60 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 17.6%. The company is expected to announce its next earnings results on Wednesday, November 7th.
According to Zacks, analysts expect that Oclaro will report full year sales of $548.79 million for the current financial year, with estimates ranging from $530.00 million to $572.67 million. For the next year, analysts expect that the business will report sales of $630.71 million per share, with estimates ranging from $621.39 million to $640.02 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Oclaro.
Oclaro (NASDAQ:OCLR) last posted its earnings results on Monday, August 13th. The semiconductor company reported $0.08 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.08. Oclaro had a return on equity of 13.34% and a net margin of 11.50%. The business had revenue of $120.94 million during the quarter, compared to analyst estimates of $120.22 million.
Several analysts recently commented on the company. BidaskClub lowered Oclaro from a “hold” rating to a “sell” rating in a report on Thursday, September 6th. ValuEngine raised Oclaro from a “hold” rating to a “buy” rating in a report on Friday, August 10th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Oclaro in a report on Monday, June 11th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $9.44.
Shares of OCLR traded up $0.04 during trading hours on Monday, hitting $9.13. The stock had a trading volume of 1,009,600 shares, compared to its average volume of 3,756,231. Oclaro has a 12 month low of $5.61 and a 12 month high of $10.20. The firm has a market capitalization of $1.55 billion, a P/E ratio of 20.73, a PEG ratio of 1.36 and a beta of 0.81.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in Oclaro by 9.5% during the second quarter. BlackRock Inc. now owns 23,997,225 shares of the semiconductor company’s stock valued at $214,294,000 after purchasing an additional 2,085,377 shares in the last quarter. UBS Group AG lifted its position in Oclaro by 831.9% during the first quarter. UBS Group AG now owns 3,517,407 shares of the semiconductor company’s stock valued at $33,626,000 after purchasing an additional 3,139,955 shares in the last quarter. Alpine Associates Management Inc. purchased a new position in Oclaro during the first quarter valued at $29,335,000. Bank of New York Mellon Corp lifted its position in Oclaro by 4.5% during the second quarter. Bank of New York Mellon Corp now owns 2,367,781 shares of the semiconductor company’s stock valued at $21,144,000 after purchasing an additional 102,324 shares in the last quarter. Finally, Divisar Capital Management LLC lifted its position in Oclaro by 34.7% during the second quarter. Divisar Capital Management LLC now owns 2,259,192 shares of the semiconductor company’s stock valued at $20,175,000 after purchasing an additional 582,100 shares in the last quarter. Institutional investors own 69.28% of the company’s stock.
Oclaro Company Profile
Oclaro, Inc engages in the design, manufacturing and marketing of optical components and modules for the long-haul, metro and data center markets. It also provides solutions for optical networks and high-speed interconnects for streaming video, cloud computing, application virtualization and other bandwidth-intensive and high-speed applications.
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