Oclaro Inc (OCLR) Expected to Post Q3 2018 Earnings of $0.05 Per Share

Oclaro Inc (NASDAQ:OCLR) – Equities researchers at B. Riley cut their Q3 2018 earnings per share (EPS) estimates for shares of Oclaro in a report issued on Tuesday. B. Riley analyst D. Kang now anticipates that the semiconductor company will post earnings of $0.05 per share for the quarter, down from their previous forecast of $0.08. B. Riley has a “Buy” rating and a $8.50 price objective on the stock. B. Riley also issued estimates for Oclaro’s Q4 2018 earnings at $0.07 EPS and FY2018 earnings at $0.43 EPS.

Oclaro (NASDAQ:OCLR) last posted its earnings results on Monday, February 5th. The semiconductor company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.02. The firm had revenue of $139.30 million for the quarter, compared to the consensus estimate of $138.83 million. Oclaro had a return on equity of 23.17% and a net margin of 23.00%. The business’s quarterly revenue was down 9.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.21 earnings per share.

OCLR has been the subject of several other reports. Cowen restated a “buy” rating and set a $8.00 price target on shares of Oclaro in a research report on Tuesday. Stifel Nicolaus decreased their target price on shares of Oclaro from $8.50 to $8.00 and set a “buy” rating for the company in a research note on Tuesday. DA Davidson cut their target price on shares of Oclaro from $11.00 to $9.00 and set a “buy” rating for the company in a research report on Tuesday. Jefferies Group cut shares of Oclaro from a “buy” rating to a “hold” rating and set a $6.50 price target on the stock. in a research note on Friday, February 2nd. Finally, ValuEngine cut shares of Oclaro from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Two analysts have rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Oclaro presently has a consensus rating of “Buy” and an average target price of $10.18.

Oclaro (OCLR) traded up $0.06 during trading on Thursday, hitting $6.75. 1,840,000 shares of the stock traded hands, compared to its average volume of 5,260,000. The company has a market capitalization of $1,140.00, a PE ratio of 8.23, a P/E/G ratio of 1.09 and a beta of 1.14. Oclaro has a 52-week low of $5.61 and a 52-week high of $11.30.

In other news, insider Thomas Gordon Beck Mason sold 39,255 shares of the business’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $7.22, for a total value of $283,421.10. Following the sale, the insider now directly owns 171,226 shares in the company, valued at approximately $1,236,251.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Lisa Paul sold 5,000 shares of the business’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $7.45, for a total transaction of $37,250.00. Following the completion of the sale, the executive vice president now owns 232,950 shares in the company, valued at $1,735,477.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 51,271 shares of company stock worth $364,240. 2.00% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of OCLR. BlackRock Inc. grew its holdings in Oclaro by 120.0% during the 2nd quarter. BlackRock Inc. now owns 16,827,106 shares of the semiconductor company’s stock valued at $157,166,000 after purchasing an additional 9,177,551 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Oclaro by 952.3% during the 4th quarter. Victory Capital Management Inc. now owns 2,807,219 shares of the semiconductor company’s stock valued at $18,921,000 after purchasing an additional 2,540,457 shares during the last quarter. State Street Corp grew its holdings in Oclaro by 54.0% during the 2nd quarter. State Street Corp now owns 3,841,177 shares of the semiconductor company’s stock valued at $35,877,000 after purchasing an additional 1,346,216 shares during the last quarter. Vanguard Group Inc. grew its holdings in Oclaro by 17.9% during the 2nd quarter. Vanguard Group Inc. now owns 8,326,122 shares of the semiconductor company’s stock valued at $77,766,000 after purchasing an additional 1,265,269 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC grew its holdings in Oclaro by 54.7% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 2,406,428 shares of the semiconductor company’s stock valued at $20,767,000 after purchasing an additional 850,381 shares during the last quarter. Institutional investors own 70.69% of the company’s stock.

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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.

Earnings History and Estimates for Oclaro (NASDAQ:OCLR)

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