Equities analysts expect Oclaro Inc (NASDAQ:OCLR) to announce $120.22 million in sales for the current quarter, Zacks reports. Four analysts have made estimates for Oclaro’s earnings, with the highest sales estimate coming in at $126.80 million and the lowest estimate coming in at $111.40 million. Oclaro reported sales of $149.38 million during the same quarter last year, which indicates a negative year-over-year growth rate of 19.5%. The firm is expected to issue its next quarterly earnings report on Wednesday, August 15th.
On average, analysts expect that Oclaro will report full-year sales of $543.45 million for the current financial year, with estimates ranging from $533.60 million to $549.00 million. For the next year, analysts expect that the firm will report sales of $545.96 million per share, with estimates ranging from $511.90 million to $577.90 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that follow Oclaro.
Several brokerages have recently issued reports on OCLR. ValuEngine upgraded Oclaro from a “hold” rating to a “buy” rating in a research note on Saturday, May 26th. DA Davidson reiterated a “buy” rating and issued a $9.00 price target 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 decreased their price target on Oclaro from $10.00 to $9.50 and set a “neutral” rating on the stock in a research note on Wednesday, May 9th. One 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 company. The company currently has an average rating of “Hold” and an average target price of $9.44.
In related news, EVP Lisa Paul sold 5,000 shares of the business’s 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 sale, the executive vice president now owns 204,397 shares in the company, valued at approximately $1,855,924.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Greg Dougherty sold 40,000 shares of the business’s 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. Insiders own 2.00% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in OCLR. Natixis acquired a new position in Oclaro during the 1st quarter worth about $100,000. Thompson Davis & CO. Inc. lifted its stake in shares of Oclaro by 1,175.0% in the 1st quarter. Thompson Davis & CO. Inc. now owns 12,750 shares of the semiconductor company’s stock valued at $122,000 after purchasing an additional 11,750 shares during the period. Xact Kapitalforvaltning AB acquired a new position in shares of Oclaro in the 4th quarter valued at about $156,000. Suntrust Banks Inc. acquired a new position in shares of Oclaro in the 1st quarter valued at about $160,000. Finally, Cerebellum GP LLC lifted its stake in shares of Oclaro by 80.9% in the 2nd quarter. Cerebellum GP LLC now owns 19,717 shares of the semiconductor company’s stock valued at $176,000 after purchasing an additional 8,816 shares during the period. 72.15% of the stock is currently owned by hedge funds and other institutional investors.
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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