Oclaro, Inc. (OCLR) Expected to Announce Quarterly Sales of $154.74 Million
Analysts expect Oclaro, Inc. (NASDAQ:OCLR) to announce sales of $154.74 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Oclaro’s earnings. The highest sales estimate is $155.00 million and the lowest is $154.00 million. Oclaro posted sales of $135.49 million during the same quarter last year, which would indicate a positive year over year growth rate of 14.2%. The firm is scheduled to issue its next earnings results on Tuesday, November 7th.
On average, analysts expect that Oclaro will report full year sales of $154.74 million for the current financial year, with estimates ranging from $615.20 million to $650.00 million. For the next year, analysts expect that the company will report sales of $715.13 million per share, with estimates ranging from $705.00 million to $729.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Oclaro.
Oclaro (NASDAQ:OCLR) last posted its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.03. Oclaro had a net margin of 21.28% and a return on equity of 27.63%. The company had revenue of $149.38 million for the quarter, compared to analyst estimates of $148.04 million. During the same period in the prior year, the company posted $0.11 EPS. The firm’s revenue for the quarter was up 19.3% on a year-over-year basis.
Several equities analysts have weighed in on OCLR shares. Rosenblatt Securities started coverage on shares of Oclaro in a report on Wednesday, May 17th. They issued a “buy” rating and a $12.00 target price on the stock. B. Riley reiterated a “buy” rating and issued a $12.00 target price on shares of Oclaro in a report on Monday, May 8th. Needham & Company LLC reiterated a “buy” rating and issued a $14.00 target price on shares of Oclaro in a report on Friday, May 5th. Stifel Nicolaus decreased their target price on shares of Oclaro from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, May 3rd. Finally, MKM Partners reiterated a “buy” rating and issued a $12.00 target price on shares of Oclaro in a report on Friday, April 21st. Two equities research analysts have rated the stock with a sell rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Oclaro presently has an average rating of “Buy” and a consensus price target of $12.97.
Shares of Oclaro (OCLR) opened at 8.32 on Friday. Oclaro has a 52-week low of $6.92 and a 52-week high of $11.30. The company has a 50-day moving average of $9.35 and a 200-day moving average of $9.29. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 10.81 and a beta of 1.55.
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In other news, insider Michael H. Fernicola sold 12,869 shares of the business’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 sale, the insider now directly owns 106,225 shares of the company’s stock, valued at approximately $915,659.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lisa Paul sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $9.17, for a total transaction of $45,850.00. Following the completion of the sale, the executive vice president now directly owns 183,460 shares in the company, valued at $1,682,328.20. The disclosure for this sale can be found here. Insiders sold a total of 38,001 shares of company stock worth $325,286 over the last three months. Insiders own 2.30% of the company’s stock.
A number of large investors have recently made changes to their positions in OCLR. Alps Advisors Inc. increased its stake in shares of Oclaro by 0.3% in the second quarter. Alps Advisors Inc. now owns 59,118 shares of the semiconductor company’s stock valued at $552,000 after buying an additional 153 shares during the last quarter. Suntrust Banks Inc. increased its stake in shares of Oclaro by 1.9% in the first quarter. Suntrust Banks Inc. now owns 19,133 shares of the semiconductor company’s stock valued at $187,000 after buying an additional 355 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Oclaro by 1.2% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 44,633 shares of the semiconductor company’s stock valued at $417,000 after buying an additional 550 shares during the last quarter. John G Ullman & Associates Inc. increased its stake in shares of Oclaro by 2.4% in the second quarter. John G Ullman & Associates Inc. now owns 25,300 shares of the semiconductor company’s stock valued at $236,000 after buying an additional 600 shares during the last quarter. Finally, Cypress Capital Management LLC WY increased its stake in shares of Oclaro by 1.9% in the second quarter. Cypress Capital Management LLC WY now owns 54,500 shares of the semiconductor company’s stock valued at $509,000 after buying an additional 1,040 shares during the last quarter. 74.45% of the stock is currently owned by hedge funds and other institutional investors.
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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