Oclaro, Inc. to Post Q2 2018 Earnings of $0.11 Per Share, DA Davidson Forecasts (OCLR)
Oclaro, Inc. (NASDAQ:OCLR) – Research analysts at DA Davidson decreased their Q2 2018 earnings per share estimates for Oclaro in a report issued on Thursday. DA Davidson analyst M. Kelleher now anticipates that the semiconductor company will post earnings per share of $0.11 for the quarter, down from their previous forecast of $0.16. DA Davidson has a “Buy” rating and a $11.00 price target on the stock. DA Davidson also issued estimates for Oclaro’s Q3 2018 earnings at $0.09 EPS, Q2 2019 earnings at $0.13 EPS, Q3 2019 earnings at $0.14 EPS and Q4 2019 earnings at $0.16 EPS.
Oclaro (NASDAQ:OCLR) last released its quarterly earnings results on Wednesday, November 1st. The semiconductor company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. Oclaro had a net margin of 24.31% and a return on equity of 28.11%. The firm had revenue of $155.60 million during the quarter, compared to analysts’ expectations of $154.51 million. During the same period in the previous year, the company earned $0.14 EPS. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. ILLEGAL ACTIVITY NOTICE: This piece of content was published by Watch List News and is the sole property of of Watch List News. If you are accessing this piece of content on another publication, it was illegally copied and reposted in violation of United States and international copyright laws. The correct version of this piece of content can be read at https://www.watchlistnews.com/oclaro-inc-to-post-q2-2018-earnings-of-0-11-per-share-da-davidson-forecasts-oclr/1682716.html.
Several other research firms have also recently issued reports on OCLR. MKM Partners reissued a “buy” rating and issued a $12.00 price objective (up from $10.50) on shares of Oclaro in a research report on Wednesday, July 26th. BidaskClub cut shares of Oclaro from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Cantor Fitzgerald reissued an “overweight” rating and issued a $21.00 price objective (down from $35.00) on shares of Oclaro in a research report on Thursday, July 13th. Stifel Nicolaus restated a “buy” rating and issued a $12.00 price target (up previously from $10.00) on shares of Oclaro in a report on Monday, July 10th. Finally, Needham & Company LLC restated a “strong-buy” rating and issued a $14.00 price target on shares of Oclaro in a report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $12.67.
Oclaro (NASDAQ OCLR) traded down $0.12 during trading on Monday, reaching $6.07. 2,088,577 shares of the company’s stock traded hands, compared to its average volume of 6,175,680. The stock has a market cap of $1,044.01, a PE ratio of 7.94, a price-to-earnings-growth ratio of 0.70 and a beta of 1.41. Oclaro has a 12 month low of $5.86 and a 12 month high of $11.30.
In other news, insider Michael H. Fernicola sold 12,869 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $8.62, for a total value of $110,930.78. Following the completion of the transaction, the insider now owns 106,225 shares of the company’s stock, valued at $915,659.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Lisa Paul sold 12,182 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $8.45, for a total transaction of $102,937.90. Following the completion of the transaction, the executive vice president now directly owns 246,090 shares of the company’s stock, valued at approximately $2,079,460.50. The disclosure for this sale can be found here. Insiders sold 85,183 shares of company stock valued at $747,174 over the last quarter. Company insiders own 2.00% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Sei Investments Co. lifted its stake in Oclaro by 150.9% in the third quarter. Sei Investments Co. now owns 17,105 shares of the semiconductor company’s stock worth $147,000 after acquiring an additional 10,288 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Oclaro by 30.5% during the third quarter. Principal Financial Group Inc. now owns 1,291,142 shares of the semiconductor company’s stock worth $11,143,000 after purchasing an additional 301,432 shares in the last quarter. Prudential Financial Inc. raised its holdings in Oclaro by 27.8% during the third quarter. Prudential Financial Inc. now owns 276,640 shares of the semiconductor company’s stock worth $2,387,000 after purchasing an additional 60,220 shares in the last quarter. American Century Companies Inc. acquired a new stake in Oclaro during the third quarter worth approximately $874,000. Finally, State of Tennessee Treasury Department raised its holdings in Oclaro by 24.3% during the third quarter. State of Tennessee Treasury Department now owns 147,479 shares of the semiconductor company’s stock worth $1,273,000 after purchasing an additional 28,784 shares in the last quarter. Institutional investors own 70.18% of the company’s stock.
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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