Analysts expect Oclaro, Inc. (NASDAQ:OCLR) to report sales of $148.28 million for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Oclaro’s earnings. The highest sales estimate is $149 million and the lowest is $147.8 million. Oclaro reported sales of $125.19 million during the same quarter last year, which indicates a positive year-over-year growth rate of 18.4%. The company is scheduled to issue its next quarterly earnings results on Tuesday, August 1st.
On average, analysts expect that Oclaro will report full year sales of $148.28 million for the current year, with estimates ranging from $599.4 million to $600.6 million. For the next fiscal year, analysts expect that the company will report sales of $634.24 million per share, with estimates ranging from $623.02 million to $650 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Oclaro.
Oclaro (NASDAQ:OCLR) last released its quarterly earnings results on Tuesday, May 2nd. The semiconductor company reported $0.22 EPS for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.04. The business had revenue of $162.18 million for the quarter, compared to analyst estimates of $160.06 million. Oclaro had a return on equity of 23.12% and a net margin of 8.83%. During the same period in the prior year, the company earned $0.03 EPS.
A number of brokerages recently issued reports on OCLR. B. Riley reissued a “buy” rating and issued a $15.50 price objective on shares of Oclaro in a research note on Friday, February 3rd. Zacks Investment Research cut shares of Oclaro from a “hold” rating to a “sell” rating in a research note on Friday, May 5th. MKM Partners reissued a “buy” rating and issued a $10.50 price objective (down from $12.00) on shares of Oclaro in a research note on Thursday, May 4th. Jefferies Group LLC reissued a “buy” rating on shares of Oclaro in a research note on Thursday, March 16th. Finally, Cowen and Company decreased their price objective on shares of Oclaro from $17.00 to $13.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 3rd. One analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. Oclaro presently has a consensus rating of “Buy” and a consensus target price of $11.68.
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Oclaro (NASDAQ:OCLR) traded up 1.92% during midday trading on Wednesday, reaching $8.50. The company had a trading volume of 5,283,511 shares. The stock’s 50 day moving average is $8.70 and its 200 day moving average is $9.04. The company has a market capitalization of $1.42 billion, a PE ratio of 15.45 and a beta of 1.80. Oclaro has a one year low of $4.29 and a one year high of $11.30.
In other Oclaro news, insider Thomas Gordon Beck Mason sold 32,352 shares of the business’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $9.12, for a total transaction of $295,050.24. Following the sale, the insider now owns 144,125 shares of the company’s stock, valued at $1,314,420. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP David Teichmann sold 41,612 shares of the business’s stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $8.88, for a total transaction of $369,514.56. Following the sale, the executive vice president now directly owns 333,738 shares in the company, valued at approximately $2,963,593.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 181,594 shares of company stock worth $1,647,085. Insiders own 2.30% of the company’s stock.
Several hedge funds have recently bought and sold shares of OCLR. Park Avenue Securities LLC bought a new stake in Oclaro during the first quarter worth $104,000. FormulaFolio Investments LLC bought a new stake in Oclaro during the first quarter worth $116,000. Oberweis Asset Management Inc. bought a new stake in Oclaro during the fourth quarter worth $119,000. National Asset Management Inc. boosted its stake in Oclaro by 15.2% in the first quarter. National Asset Management Inc. now owns 12,144 shares of the semiconductor company’s stock worth $121,000 after buying an additional 1,601 shares during the last quarter. Finally, Suntrust Banks Inc. bought a new stake in Oclaro during the third quarter worth $129,000. 63.47% of the stock is currently owned by hedge funds and other institutional investors.
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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