Wall Street analysts forecast that Oclaro Inc (NASDAQ:OCLR) will post earnings of $0.08 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Oclaro’s earnings, with the lowest EPS estimate coming in at $0.05 and the highest estimate coming in at $0.09. Oclaro posted earnings of $0.20 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 60%. The firm is expected to announce its next quarterly earnings results on Wednesday, August 15th.
On average, analysts expect that Oclaro will report full-year earnings of $0.52 per share for the current fiscal year, with EPS estimates ranging from $0.50 to $0.54. For the next financial year, analysts forecast that the firm will post earnings of $0.40 per share, with EPS estimates ranging from $0.30 to $0.49. Zacks’ EPS averages are an average based on a survey of analysts that that provide coverage for Oclaro.
OCLR has been the topic of several research reports. Northland Securities reissued a “buy” rating and set a $11.25 price objective on shares of Oclaro in a report on Tuesday, April 17th. Zacks Investment Research downgraded shares of Oclaro from a “buy” rating to a “hold” rating in a research note on Thursday, April 19th. DA Davidson restated a “buy” rating and issued a $9.00 target price on shares of Oclaro in a research note on Monday, June 11th. ValuEngine downgraded shares of Oclaro from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 17th. Finally, B. Riley lowered their price objective on shares of Oclaro from $10.00 to $9.50 and set a “neutral” rating for the company in a research note on Wednesday, May 9th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company’s stock. Oclaro currently has a consensus rating of “Hold” and an average price target of $9.44.
Oclaro traded up $0.08, reaching $9.04, during midday trading on Friday, MarketBeat.com reports. The stock had a trading volume of 1,294,663 shares, compared to its average volume of 1,529,827. The firm has a market capitalization of $1.53 billion, a P/E ratio of 12.05, a price-to-earnings-growth ratio of 1.86 and a beta of 0.88. Oclaro has a 52-week low of $5.61 and a 52-week high of $10.20.
In other news, EVP Lisa Paul sold 5,000 shares of the business’s stock in a transaction dated Thursday, June 14th. The shares were sold at an average price of $9.08, for a total transaction of $45,400.00. Following the completion of the sale, the executive vice president now owns 204,397 shares of the company’s stock, valued at $1,855,924.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Greg Dougherty sold 40,000 shares of the business’s stock in a transaction dated Monday, May 14th. The stock was sold at an average price of $9.26, for a total transaction of $370,400.00. Following the sale, the chief executive officer now directly owns 1,292,535 shares of the company’s stock, valued at approximately $11,968,874.10. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Ontario Teachers Pension Plan Board acquired a new position in Oclaro during the second quarter worth about $1,786,000. FMR LLC boosted its position in Oclaro by 124.9% during the second quarter. FMR LLC now owns 508,050 shares of the semiconductor company’s stock worth $4,537,000 after acquiring an additional 282,170 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new position in Oclaro during the second quarter worth about $266,000. Legal & General Group Plc boosted its position in Oclaro by 6.0% during the second quarter. Legal & General Group Plc now owns 367,204 shares of the semiconductor company’s stock worth $3,256,000 after acquiring an additional 20,900 shares during the last quarter. Finally, BlackRock Inc. boosted its position in Oclaro by 9.5% during the second quarter. BlackRock Inc. now owns 23,997,225 shares of the semiconductor company’s stock worth $214,294,000 after acquiring an additional 2,085,377 shares during the last quarter. Hedge funds and other institutional investors own 72.15% of the company’s stock.
Oclaro, Inc designs, manufactures, and markets optical components, modules, and subsystems for the long-haul, metro, and data center markets worldwide. The company's products generate, detect, combine, and separate light signals in optical communications networks. It offers client side transceivers, including pluggable transceivers; line side transceivers; tunable laser transmitters, such as discrete lasers and co-packaged laser modulators; lithium niobate modulators to manipulate the phase or the amplitude of an optical signal; transponder modules for transmitter and receiver functions; and discrete lasers and receivers for metro and long-haul applications.
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