Oclaro, Inc. Forecasted to Earn Q1 2019 Earnings of $0.23 Per Share (OCLR)
Oclaro, Inc. (NASDAQ:OCLR) – Analysts at Jefferies Group issued their Q1 2019 earnings per share (EPS) estimates for Oclaro in a research report issued to clients and investors on Wednesday. Jefferies Group analyst G. Notter forecasts that the semiconductor company will post earnings of $0.23 per share for the quarter. Jefferies Group has a “Buy” rating and a $12.50 price objective on the stock.
Oclaro (NASDAQ:OCLR) last issued its quarterly earnings results on Wednesday, November 1st. The semiconductor company reported $0.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.02. Oclaro had a return on equity of 27.63% and a net margin of 21.28%. The business had revenue of $155.60 million for the quarter, compared to analyst estimates of $154.51 million. During the same quarter in the previous year, the firm earned $0.14 earnings per share. The company’s revenue was up 14.8% on a year-over-year basis. COPYRIGHT VIOLATION NOTICE: “Oclaro, Inc. Forecasted to Earn Q1 2019 Earnings of $0.23 Per Share (OCLR)” was first reported by American Banking News and is owned by of American Banking News. If you are reading this piece of content on another publication, it was illegally stolen and republished in violation of United States & international trademark and copyright legislation. The correct version of this piece of content can be read at https://www.americanbankingnews.com/2017/11/02/oclaro-inc-forecasted-to-earn-q1-2019-earnings-of-0-23-per-share-oclr.html.
A number of other research analysts also recently commented on OCLR. B. Riley reiterated a “buy” rating and issued a $11.75 price objective on shares of Oclaro in a report on Thursday, August 3rd. DA Davidson reaffirmed a “buy” rating and set a $11.00 price objective on shares of Oclaro in a research report on Thursday. Craig Hallum cut Oclaro from a “buy” rating to a “hold” rating in a research report on Thursday. Needham & Company LLC cut Oclaro from a “strong-buy” rating to a “buy” rating and decreased their price objective for the stock from $14.00 to $9.00 in a research report on Thursday. Finally, Cowen and Company reissued an “outperform” rating and issued a $14.00 price target (up from $13.00) on shares of Oclaro in a report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $12.67.
Several large investors have recently bought and sold shares of OCLR. UBS Asset Management Americas Inc. grew its holdings in Oclaro by 20.9% in the 1st quarter. UBS Asset Management Americas Inc. now owns 57,069 shares of the semiconductor company’s stock worth $560,000 after buying an additional 9,870 shares in the last quarter. Karp Capital Management Corp bought a new position in Oclaro in the 1st quarter worth approximately $203,000. American International Group Inc. grew its holdings in Oclaro by 19.4% in the 1st quarter. American International Group Inc. now owns 67,785 shares of the semiconductor company’s stock worth $666,000 after buying an additional 11,026 shares in the last quarter. California Public Employees Retirement System grew its holdings in Oclaro by 1.7% in the 1st quarter. California Public Employees Retirement System now owns 250,224 shares of the semiconductor company’s stock worth $2,457,000 after buying an additional 4,300 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Oclaro by 20.2% in the 1st quarter. Vanguard Group Inc. now owns 7,060,853 shares of the semiconductor company’s stock worth $69,337,000 after buying an additional 1,186,225 shares in the last quarter. 70.69% of the stock is owned by institutional investors.
In other news, CEO Greg Dougherty sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $9.12, for a total transaction of $364,800.00. Following the completion of the transaction, the chief executive officer now directly owns 1,441,386 shares of the company’s stock, valued at $13,145,440.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lisa Paul sold 12,182 shares of the company’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 value of $102,937.90. Following the transaction, the executive vice president now directly owns 246,090 shares of the company’s stock, valued at $2,079,460.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 85,183 shares of company stock valued at $747,174. 2.00% of the stock is 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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