Oclaro Inc (NASDAQ:OCLR) – DA Davidson dropped their Q3 2018 earnings estimates for shares of Oclaro in a report released on Tuesday. DA Davidson analyst M. Kelleher now expects that the semiconductor company will post earnings per share of $0.06 for the quarter, down from their prior estimate of $0.09. DA Davidson has a “Buy” rating and a $9.00 price target on the stock. DA Davidson also issued estimates for Oclaro’s Q4 2018 earnings at $0.07 EPS and Q1 2019 earnings at $0.08 EPS.
Oclaro (NASDAQ:OCLR) last posted its quarterly earnings results on Monday, February 5th. The semiconductor company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. Oclaro had a net margin of 23.00% and a return on equity of 23.17%. The company had revenue of $139.30 million for the quarter, compared to the consensus estimate of $138.83 million. During the same period last year, the company posted $0.21 EPS. The firm’s quarterly revenue was down 9.5% compared to the same quarter last year.
Shares of Oclaro (NASDAQ:OCLR) opened at $6.71 on Thursday. Oclaro has a one year low of $5.61 and a one year high of $11.30. The firm has a market cap of $1,146.02, a P/E ratio of 8.18, a PEG ratio of 1.18 and a beta of 1.14.
A number of institutional investors have recently added to or reduced their stakes in the business. Employees Retirement System of Texas raised its holdings in Oclaro by 84.4% during the 4th quarter. Employees Retirement System of Texas now owns 236,000 shares of the semiconductor company’s stock worth $1,591,000 after purchasing an additional 108,000 shares during the last quarter. Royce & Associates LP raised its holdings in Oclaro by 30.9% during the 4th quarter. Royce & Associates LP now owns 1,277,811 shares of the semiconductor company’s stock worth $8,612,000 after purchasing an additional 301,810 shares during the last quarter. Waratah Capital Advisors Ltd. bought a new position in Oclaro during the 4th quarter worth approximately $202,000. BlackRock Inc. raised its holdings in Oclaro by 2.0% during the 4th quarter. BlackRock Inc. now owns 20,857,498 shares of the semiconductor company’s stock worth $140,579,000 after purchasing an additional 416,980 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Oclaro by 12.4% during the 4th quarter. Bank of New York Mellon Corp now owns 2,503,477 shares of the semiconductor company’s stock worth $16,874,000 after purchasing an additional 276,606 shares during the last quarter. Hedge funds and other institutional investors own 70.69% of the company’s stock.
In other Oclaro news, EVP Lisa Paul sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $7.45, for a total transaction of $37,250.00. Following the completion of the transaction, the executive vice president now owns 232,950 shares in the company, valued at approximately $1,735,477.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Michael H. Fernicola sold 7,016 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $6.21, for a total transaction of $43,569.36. Following the transaction, the chief accounting officer now owns 81,378 shares of the company’s stock, valued at approximately $505,357.38. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,271 shares of company stock worth $364,240. 2.00% of the stock is owned by corporate insiders.
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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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