Oclaro, Inc. (NASDAQ:OCLR) announced its earnings results on Monday. The semiconductor company reported $0.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.02, Bloomberg Earnings reports. Oclaro had a net margin of 21.28% and a return on equity of 27.63%. The business had revenue of $155.60 million for the quarter, compared to analyst estimates of $154.51 million. During the same quarter in the previous year, the firm posted $0.14 earnings per share. Oclaro’s revenue was up 14.8% compared to the same quarter last year.
A number of brokerages recently issued reports on OCLR. B. Riley reaffirmed a “buy” rating and set a $11.75 target price on shares of Oclaro in a research report on Tuesday, August 8th. Jefferies Group LLC reaffirmed a “buy” rating and set a $12.50 target price on shares of Oclaro in a research report on Wednesday. Northland Securities reaffirmed a “buy” rating and set a $12.75 target price on shares of Oclaro in a research report on Wednesday. ValuEngine lowered shares of Oclaro from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 8th. Finally, MKM Partners reaffirmed a “buy” rating and set a $12.00 target price (up previously from $10.50) on shares of Oclaro in a research report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $13.33.
In related news, CEO Greg Dougherty sold 40,000 shares of the firm’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $9.12, for a total value of $364,800.00. Following the transaction, the chief executive officer now owns 1,441,386 shares in the company, valued at $13,145,440.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael H. Fernicola sold 12,869 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $8.62, for a total value of $110,930.78. Following the completion of the transaction, the insider now owns 106,225 shares in the company, valued at approximately $915,659.50. The disclosure for this sale can be found here. Insiders have sold a total of 85,183 shares of company stock worth $747,174 in the last quarter. Company insiders own 2.00% of the company’s stock.
Oclaro Company Profile
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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