Wall Street brokerages expect Oclaro Inc (NASDAQ:OCLR) to announce $0.08 earnings per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Oclaro’s earnings, with the highest EPS estimate coming in at $0.09 and the lowest estimate coming in at $0.05. Oclaro reported earnings of $0.20 per share during the same quarter last year, which would indicate a negative year over year growth rate of 60%. The firm is expected to announce its next quarterly earnings report on Wednesday, August 15th.
According to Zacks, analysts expect that Oclaro will report full-year earnings of $0.52 per share for the current year, with EPS estimates ranging from $0.50 to $0.54. For the next year, analysts expect that the firm will report earnings of $0.40 per share, with EPS estimates ranging from $0.30 to $0.49. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that cover Oclaro.
A number of research analysts recently commented on the company. ValuEngine upgraded Oclaro from a “hold” rating to a “buy” rating in a research note on Saturday, May 26th. 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. BidaskClub upgraded Oclaro from a “strong sell” rating to a “sell” rating in a research note on Thursday. Zacks Investment Research upgraded Oclaro from a “sell” rating to a “hold” rating in a research note on Tuesday, May 15th. Finally, B. Riley cut their target price on Oclaro from $10.00 to $9.50 and set a “neutral” rating for the company in a research note on Wednesday, May 9th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $9.44.
In other Oclaro news, EVP Lisa Paul sold 5,000 shares of the stock in a transaction on Thursday, June 14th. The stock was sold at an average price of $9.08, for a total transaction of $45,400.00. Following the completion of the transaction, the executive vice president now directly owns 204,397 shares in the company, valued at $1,855,924.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Greg Dougherty sold 40,000 shares of the stock in a transaction on Monday, May 14th. The stock was sold at an average price of $9.26, for a total value of $370,400.00. Following the sale, the chief executive officer now owns 1,292,535 shares in the company, valued at approximately $11,968,874.10. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Natixis bought a new stake in shares of Oclaro during the first quarter worth $100,000. Thompson Davis & CO. Inc. grew its holdings in shares of Oclaro by 1,175.0% during the first quarter. Thompson Davis & CO. Inc. now owns 12,750 shares of the semiconductor company’s stock worth $122,000 after purchasing an additional 11,750 shares during the last quarter. Xact Kapitalforvaltning AB bought a new stake in shares of Oclaro during the fourth quarter worth $156,000. Suntrust Banks Inc. bought a new stake in shares of Oclaro during the first quarter worth $160,000. Finally, Cerebellum GP LLC grew its holdings in shares of Oclaro by 80.9% during the second quarter. Cerebellum GP LLC now owns 19,717 shares of the semiconductor company’s stock worth $176,000 after purchasing an additional 8,816 shares during the last quarter. 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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