Brokerages Expect Oclaro, Inc. (OCLR) to Announce $0.16 EPS

Wall Street analysts expect Oclaro, Inc. (NASDAQ:OCLR) to post earnings per share (EPS) of $0.16 for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Oclaro’s earnings. The lowest EPS estimate is $0.15 and the highest is $0.16. Oclaro reported earnings of $0.09 per share in the same quarter last year, which would indicate a positive year over year growth rate of 77.8%. The business is scheduled to announce its next quarterly earnings report on Tuesday, August 1st.

On average, analysts expect that Oclaro will report full year earnings of $0.70 per share for the current fiscal year, with EPS estimates ranging from $0.67 to $0.72. For the next financial year, analysts forecast that the business will post earnings of $0.65 per share, with EPS estimates ranging from $0.61 to $0.70. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Oclaro.

Oclaro (NASDAQ:OCLR) last announced its quarterly earnings results on Tuesday, May 2nd. The semiconductor company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.04. The business had revenue of $162.18 million for the quarter, compared to analyst estimates of $160.06 million. Oclaro had a net margin of 8.83% and a return on equity of 23.12%. During the same quarter last year, the firm earned $0.03 EPS.

A number of research analysts have weighed in on the stock. B. Riley reiterated a “buy” rating and set a $15.50 price objective on shares of Oclaro in a research report on Friday, February 3rd. Zacks Investment Research cut shares of Oclaro from a “hold” rating to a “sell” rating in a report on Friday, May 5th. MKM Partners restated a “buy” rating and issued a $10.50 price target (down from $12.00) on shares of Oclaro in a report on Thursday, May 4th. Jefferies Group LLC restated a “buy” rating on shares of Oclaro in a report on Thursday, March 16th. Finally, Cowen and Company cut their price target on shares of Oclaro from $17.00 to $13.00 and set an “outperform” rating on the stock in a report on Wednesday, May 3rd. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. Oclaro currently has an average rating of “Buy” and an average target price of $11.68.

In other Oclaro news, EVP David Teichmann sold 41,612 shares of the stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $8.88, for a total transaction of $369,514.56. Following the transaction, the executive vice president now directly owns 333,738 shares in the company, valued at approximately $2,963,593.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Thomas Gordon Beck Mason sold 32,352 shares of the stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $9.12, for a total transaction of $295,050.24. Following the transaction, the insider now owns 144,125 shares in the company, valued at $1,314,420. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 181,594 shares of company stock worth $1,647,085. Company insiders own 2.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of OCLR. Park Avenue Securities LLC acquired a new position in shares of Oclaro during the first quarter valued at about $104,000. FormulaFolio Investments LLC acquired a new position in shares of Oclaro during the first quarter valued at about $116,000. Oberweis Asset Management Inc. acquired a new position in shares of Oclaro during the fourth quarter valued at about $119,000. National Asset Management Inc. boosted its position in shares of Oclaro by 15.2% in the first quarter. National Asset Management Inc. now owns 12,144 shares of the semiconductor company’s stock valued at $121,000 after buying an additional 1,601 shares during the last quarter. Finally, Suntrust Banks Inc. acquired a new position in shares of Oclaro during the third quarter valued at about $129,000. Institutional investors own 63.47% of the company’s stock.

Shares of Oclaro (NASDAQ:OCLR) traded up 1.92% during midday trading on Monday, reaching $8.50. 5,283,511 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $8.70 and its 200-day moving average is $9.04. The stock has a market cap of $1.42 billion, a PE ratio of 15.45 and a beta of 1.80. Oclaro has a 12-month low of $4.29 and a 12-month high of $11.30.

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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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