Oclaro Inc. (NASDAQ:OCLR) – Equities research analysts at B. Riley boosted their Q2 2018 earnings estimates for Oclaro in a note issued to investors on Thursday. B. Riley analyst D. Kang now anticipates that the brokerage will post earnings of $0.13 per share for the quarter, up from their prior forecast of $0.12. B. Riley has a “Buy” rating and a $11.00 price target on the stock. B. Riley also issued estimates for Oclaro’s Q3 2018 earnings at $0.12 EPS, Q4 2018 earnings at $0.14 EPS and FY2018 earnings at $0.49 EPS.
Oclaro (NASDAQ:OCLR) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. The business had revenue of $125.20 million for the quarter, compared to analysts’ expectations of $119.41 million. Oclaro had a return on equity of 6.24% and a net margin of 2.10%. Oclaro’s quarterly revenue was up 52.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.06) earnings per share.
Several other research analysts have also recently weighed in on OCLR. Zacks Investment Research cut Oclaro from a “buy” rating to a “hold” rating in a research report on Wednesday, July 6th. Needham & Company LLC raised Oclaro from a “buy” rating to a “strong-buy” rating and increased their price target for the company from $7.00 to $7.50 in a research report on Monday, July 25th. Piper Jaffray Cos. reissued an “overweight” rating and set a $6.75 price target on shares of Oclaro in a research report on Monday, August 1st. 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, MKM Partners increased their price target on Oclaro from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, August 3rd. Two analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. Oclaro currently has an average rating of “Buy” and an average target price of $8.65.
Oclaro (NASDAQ:OCLR) traded down 1.74% during mid-day trading on Friday, hitting $9.06. The stock had a trading volume of 1,827,392 shares. Oclaro has a one year low of $2.37 and a one year high of $9.34. The stock’s 50 day moving average price is $8.36 and its 200 day moving average price is $6.00. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of 116.15 and a beta of 1.82.
Several institutional investors have recently made changes to their positions in OCLR. Bayesian Capital Management LP purchased a new position in shares of Oclaro during the first quarter worth $107,000. Peconic Partners LLC raised its position in shares of Oclaro by 100.0% in the first quarter. Peconic Partners LLC now owns 20,000 shares of the company’s stock worth $108,000 after buying an additional 10,000 shares during the period. Stifel Financial Corp purchased a new position in shares of Oclaro during the second quarter worth $108,000. Compagnie Lombard Odier SCmA purchased a new position in shares of Oclaro during the second quarter worth $122,000. Finally, BlackRock Group LTD purchased a new position in shares of Oclaro during the second quarter worth $124,000. 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 that occurred 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 transaction, the insider now owns 202,584 shares in the company, valued at $1,215,504. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Lisa Paul sold 9,363 shares of the stock in a transaction that occurred 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 in the company, 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 Company Profile