Oclaro Inc. (NASDAQ:OCLR) – Research analysts at B. Riley cut their Q2 2017 earnings estimates for Oclaro in a note issued to investors on Thursday. B. Riley analyst D. Kang now expects that the firm will post earnings per share of $0.09 for the quarter, down from their previous estimate of $0.10. B. Riley has a “Buy” rating and a $11.00 price target on the stock. B. Riley also issued estimates for Oclaro’s Q4 2017 earnings at $0.09 EPS and FY2017 earnings at $0.34 EPS.
A number of other analysts also recently weighed in on OCLR. Needham & Company LLC restated a “strong-buy” rating and issued a $8.00 price objective (up from $7.50) on shares of Oclaro in a report on Wednesday, August 3rd. Zacks Investment Research downgraded Oclaro from a “buy” rating to a “hold” rating in a report on Wednesday, July 6th. MKM Partners increased their price objective on Oclaro from $8.00 to $10.00 and gave the company a “top pick” rating in a report on Thursday, September 1st. Piper Jaffray Cos. reiterated an “overweight” rating and set a $10.50 price target (up from $9.00) on shares of Oclaro in a report on Friday, October 7th. Finally, Stifel Nicolaus increased their price target on Oclaro from $7.50 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, September 6th. One analyst has rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $8.86.
Shares of Oclaro (NASDAQ:OCLR) traded up 0.060% during midday trading on Monday, reaching $8.395. The company had a trading volume of 764,915 shares. Oclaro has a 52-week low of $2.37 and a 52-week high of $9.34. The firm has a market cap of $1.24 billion, a P/E ratio of 107.628 and a beta of 1.82. The company’s 50-day moving average is $8.48 and its 200-day moving average is $6.09.
Oclaro (NASDAQ:OCLR) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.05. The firm earned $125.20 million during the quarter, compared to the consensus estimate of $119.41 million. Oclaro had a return on equity of 6.24% and a net margin of 2.10%. The business’s revenue for the quarter was up 52.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.06) EPS.
A number of institutional investors have recently made changes to their positions in OCLR. Bayesian Capital Management LP acquired a new position in shares of Oclaro during the first quarter valued at $107,000. Peconic Partners LLC boosted its position in shares of Oclaro by 100.0% in the first quarter. Peconic Partners LLC now owns 20,000 shares of the company’s stock valued at $108,000 after buying an additional 10,000 shares during the last quarter. Stifel Financial Corp acquired a new position in shares of Oclaro during the second quarter valued at $108,000. Compagnie Lombard Odier SCmA acquired a new position in shares of Oclaro during the second quarter valued at $122,000. Finally, BlackRock Group LTD acquired a new position in shares of Oclaro during the second quarter valued at $124,000. 62.49% of the stock is currently owned by institutional investors and hedge funds.
In related news, EVP Lisa Paul sold 9,363 shares of the firm’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $7.69, for a total value of $72,001.47. Following the transaction, the executive vice president now owns 218,264 shares of the company’s stock, valued at approximately $1,678,450.16. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Adam Carter sold 19,506 shares of the firm’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $6.00, for a total transaction of $117,036.00. Following the completion of the transaction, the insider now directly owns 202,584 shares in the company, valued at approximately $1,215,504. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by corporate insiders.
Oclaro Company Profile
Oclaro, Inc is a provider of optical components, modules and subsystems for the optical transport, service provider, enterprise and data center markets. The Company supplies optical network technology to telecommunication and data communication equipment companies across the world. The Company designs, manufactures and markets optical components, modules and subsystems that generate, detect, combine and separate light signals in optical communications networks.
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