Oclaro, Inc. (NASDAQ:OCLR) – Stock analysts at B. Riley dropped their Q4 2017 earnings per share estimates for Oclaro in a research note issued on Wednesday, Zacks Investment Research reports. B. Riley analyst D. Kang now expects that the semiconductor company will post earnings of $0.15 per share for the quarter, down from their prior estimate of $0.18. B. Riley currently has a “Buy” rating and a $12.00 target price on the stock. B. Riley also issued estimates for Oclaro’s Q1 2018 earnings at $0.15 EPS, Q2 2018 earnings at $0.16 EPS, Q4 2018 earnings at $0.17 EPS and FY2018 earnings at $0.62 EPS.
A number of other analysts have also issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 target price on shares of Oclaro in a research report on Friday, May 5th. Zacks Investment Research lowered Oclaro from a “hold” rating to a “sell” rating in a research report on Friday, May 5th. MKM Partners reaffirmed a “buy” rating and set a $10.50 target price (down from $12.00) on shares of Oclaro in a research report on Thursday, May 4th. Jefferies Group LLC dropped their target price on Oclaro from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, May 3rd. Finally, Cowen and Company dropped their target price on Oclaro from $17.00 to $13.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 3rd. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $11.65.
Oclaro (NASDAQ:OCLR) traded up 0.44% during midday trading on Friday, hitting $9.17. The company had a trading volume of 2,731,648 shares. The stock has a 50 day moving average of $8.89 and a 200 day moving average of $9.01. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of 16.67 and a beta of 1.80. Oclaro has a 52-week low of $4.25 and a 52-week high of $11.30. Oclaro (NASDAQ:OCLR) last posted its quarterly earnings data on Tuesday, May 2nd. The semiconductor company reported $0.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.04. The firm had revenue of $162.18 million for the quarter, compared to the consensus estimate of $160.06 million. Oclaro had a return on equity of 23.12% and a net margin of 8.83%. During the same quarter in the previous year, the business earned $0.03 EPS.
In other Oclaro news, insider Michael H. Fernicola sold 5,067 shares of Oclaro stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $8.77, for a total value of $44,437.59. Following the completion of the transaction, the insider now directly owns 61,292 shares in the company, valued at $537,530.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO James Douglas Haynes sold 20,000 shares of Oclaro stock in a transaction that occurred on Thursday, February 16th. The shares were sold at an average price of $10.68, for a total value of $213,600.00. Following the completion of the transaction, the chief operating officer now owns 309,277 shares of the company’s stock, valued at $3,303,078.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 169,242 shares of company stock valued at $1,565,634. 2.30% of the stock is currently owned by insiders. Several institutional investors have recently modified their holdings of the company. Park Avenue Securities LLC acquired a new position in shares of Oclaro during the first quarter valued at about $104,000. FormulaFolio Investments LLC acquired a new position in shares of Oclaro during the first quarter valued at about $116,000. Oberweis Asset Management Inc. acquired a new position in shares of Oclaro during the fourth quarter valued at about $119,000. National Asset Management Inc. increased its position in shares of Oclaro by 15.2% in the first quarter. National Asset Management Inc. now owns 12,144 shares of the semiconductor company’s stock valued at $121,000 after buying an additional 1,601 shares in the last quarter. Finally, Suntrust Banks Inc. acquired a new position in shares of Oclaro during the third quarter valued at about $129,000. Institutional investors and hedge funds own 63.47% of the company’s stock.
About Oclaro 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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