Q1 2018 EPS Estimates for Oclaro, Inc. Decreased by DA Davidson (OCLR)
Oclaro, Inc. (NASDAQ:OCLR) – DA Davidson dropped their Q1 2018 earnings estimates for shares of Oclaro in a report released on Thursday. DA Davidson analyst M. Kelleher now expects that the semiconductor company will post earnings per share of $0.15 for the quarter, down from their prior estimate of $0.16. DA Davidson has a “Buy” rating and a $14.00 price target on the stock. DA Davidson also issued estimates for Oclaro’s Q2 2018 earnings at $0.16 EPS, Q3 2018 earnings at $0.15 EPS, FY2018 earnings at $0.66 EPS and FY2019 earnings at $0.72 EPS.
Oclaro (NASDAQ:OCLR) last issued its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. The company had revenue of $149.38 million during the quarter, compared to analyst estimates of $148.04 million. Oclaro had a net margin of 21.28% and a return on equity of 27.63%. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter last year, the business posted $0.11 EPS. COPYRIGHT VIOLATION NOTICE: “Q1 2018 EPS Estimates for Oclaro, Inc. Decreased by DA Davidson (OCLR)” was first reported by American Banking News and is owned by of American Banking News. If you are accessing this story on another domain, it was illegally stolen and reposted in violation of US and international trademark and copyright laws. The legal version of this story can be read at https://www.americanbankingnews.com/2017/08/07/q1-2018-eps-estimates-for-oclaro-inc-decreased-by-da-davidson-oclr.html.
Several other equities research analysts also recently issued reports on the stock. Cowen and Company reissued an “outperform” rating and set a $14.00 price objective (up previously from $13.00) on shares of Oclaro in a research report on Thursday. Needham & Company LLC reissued a “strong-buy” rating and set a $14.00 price objective on shares of Oclaro in a research report on Thursday. Jefferies Group LLC reissued a “buy” rating and set a $12.50 price objective (up previously from $12.00) on shares of Oclaro in a research report on Thursday. Piper Jaffray Companies reissued a “buy” rating and set a $12.00 price objective on shares of Oclaro in a research report on Thursday. Finally, B. Riley reissued a “buy” rating and set a $11.75 price objective on shares of Oclaro in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $12.97.
Shares of Oclaro (NASDAQ OCLR) opened at 8.74 on Monday. Oclaro has a 52 week low of $5.75 and a 52 week high of $11.30. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of 11.35 and a beta of 1.55. The firm’s 50 day moving average is $9.70 and its 200-day moving average is $9.35.
A number of hedge funds and other institutional investors have recently made changes to their positions in OCLR. Tealwood Asset Management Inc. acquired a new position in shares of Oclaro during the first quarter valued at approximately $1,779,000. Strs Ohio acquired a new position in shares of Oclaro during the first quarter valued at approximately $2,946,000. Janney Montgomery Scott LLC acquired a new position in shares of Oclaro during the first quarter valued at approximately $395,000. Park Avenue Securities LLC acquired a new position in shares of Oclaro during the first quarter valued at approximately $104,000. Finally, B & T Capital Management DBA Alpha Capital Management acquired a new position in shares of Oclaro during the first quarter valued at approximately $1,290,000. Institutional investors and hedge funds own 72.79% of the company’s stock.
In related news, EVP David Teichmann sold 41,612 shares of the stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $8.88, for a total transaction of $369,514.56. Following the completion of the transaction, the executive vice president now owns 333,738 shares in the company, valued at $2,963,593.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael H. Fernicola sold 5,067 shares of the stock in a transaction on Friday, May 12th. The stock was sold at an average price of $8.77, for a total transaction of $44,437.59. Following the transaction, the insider now owns 61,292 shares of the company’s stock, valued at approximately $537,530.84. The disclosure for this sale can be found here. Insiders have sold 124,031 shares of company stock valued at $1,114,852 in the last 90 days. 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 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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