Oclaro Inc. (NASDAQ:OCLR) – Equities researchers at Jefferies Group issued their Q1 2017 EPS estimates for shares of Oclaro in a note issued to investors on Monday. Jefferies Group analyst J. Kisner expects that the firm will post earnings of $0.09 per share for the quarter. Jefferies Group has a “Buy” rating and a $11.25 price target on the stock. Jefferies Group also issued estimates for Oclaro’s Q2 2017 earnings at $0.10 EPS, Q3 2017 earnings at $0.08 EPS, Q4 2017 earnings at $0.11 EPS, FY2017 earnings at $0.38 EPS, Q1 2018 earnings at $0.13 EPS, Q2 2018 earnings at $0.16 EPS, Q3 2018 earnings at $0.10 EPS, Q4 2018 earnings at $0.13 EPS and FY2018 earnings at $0.52 EPS.
A number of other equities analysts have also weighed in on the company. Needham & Company LLC lowered their target price on Oclaro from $10.00 to $8.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, August 30th. Piper Jaffray Cos. reissued an “overweight” rating and issued a $6.75 price target on shares of Oclaro in a research report on Monday, August 1st. Vetr lowered Oclaro from a “strong-buy” rating to a “buy” rating and set a $8.25 price target for the company. in a research report on Monday, August 22nd. Stifel Nicolaus increased their price target on Oclaro from $6.50 to $7.50 and gave the company a “buy” rating in a research report on Wednesday, August 3rd. Finally, TheStreet raised Oclaro from a “hold” rating to a “buy” rating in a research report on Wednesday, August 3rd. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $8.48.
Oclaro (NASDAQ:OCLR) traded up 1.21% during midday trading on Thursday, hitting $9.17. The stock had a trading volume of 2,266,617 shares. Oclaro has a 52 week low of $2.37 and a 52 week high of $9.34. The company has a 50-day moving average price of $8.29 and a 200-day moving average price of $5.98. The stock has a market cap of $1.36 billion, a P/E ratio of 117.56 and a beta of 1.82.
Oclaro (NASDAQ:OCLR) last posted its earnings results on Wednesday, August 3rd. The company reported $0.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.05. Oclaro had a return on equity of 6.24% and a net margin of 2.10%. The company earned $125.20 million during the quarter, compared to the consensus estimate of $119.41 million. During the same quarter last year, the firm earned ($0.06) earnings per share. The company’s revenue was up 52.3% on a year-over-year basis.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Quentec Asset Management LLC increased its position in Oclaro by 19.9% in the first quarter. Quentec Asset Management LLC now owns 945,105 shares of the company’s stock valued at $5,104,000 after buying an additional 157,040 shares during the last quarter. Barclays PLC boosted its stake in shares of Oclaro by 245.1% in the first quarter. Barclays PLC now owns 76,634 shares of the company’s stock worth $384,000 after buying an additional 54,428 shares during the period. A.R.T. Advisors LLC bought a new stake in shares of Oclaro during the first quarter worth about $612,000. Jacobs Levy Equity Management Inc. boosted its stake in shares of Oclaro by 136.0% in the first quarter. Jacobs Levy Equity Management Inc. now owns 666,387 shares of the company’s stock worth $3,598,000 after buying an additional 384,062 shares during the period. Finally, Harvest Capital Strategies LLC bought a new stake in shares of Oclaro during the first quarter worth about $540,000. Institutional investors own 62.49% of the company’s stock.
In other news, insider Adam Carter sold 19,506 shares of the stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $6.00, for a total transaction of $117,036.00. Following the completion of the transaction, the insider now owns 202,584 shares in the company, valued at approximately $1,215,504. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lisa Paul sold 9,363 shares of the stock in a transaction on Monday, August 29th. The stock was sold at an average price of $7.69, for a total value of $72,001.47. Following the transaction, the executive vice president now owns 218,264 shares of the company’s stock, valued at approximately $1,678,450.16. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.
Oclaro, Inc is a provider of optical components, modules and subsystems for the optical transport, service provider, enterprise and data center markets. The Company supplies optical network technology to telecommunication and data communication equipment companies across the world. The Company designs, manufactures and markets optical components, modules and subsystems that generate, detect, combine and separate light signals in optical communications networks.
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