Oclaro Inc., Nasdaq: OCLR
Shares of San Jose, CA-based Oclaro Inc. are higher on rumors of an acquisition by Finisar Corporation (Nasdaq: FNSR). Shares of Oclaro Inc. trade on the Nasdaq under ticker symbol OCLR.
Oclaro Inc. develops and provides products for fast optical networks and high-speed interconnects that are enabling the next wave of streaming video, cloud computing, voice over IP and other high-speed and bandwidth-intensive applications. Oclaro operates R&D and chip fabrication facilities in the U.S., U.K., Italy, and Japan; in-house and contract manufacturing sites in China, Malaysia, and Thailand; and design, sales, and service organizations in each of the major regions around the world.
Oclaro’s financials are impressive. From their November 1, 2016 press release:
Results for the First Quarter of Fiscal 2017
- Revenues were $135.5 million for the first quarter of fiscal 2017, and compare with revenues of $125.2 million in the fourth quarter of fiscal 2016, which was a 14 week quarter, and revenues of $87.6 million in the first quarter of fiscal 2016.
- GAAP gross margin was 34.2% for the first quarter of fiscal 2017, compared with GAAP gross margin of 32.1% in the fourth quarter of fiscal 2016, and a GAAP gross margin of 25.9% in the first quarter of fiscal 2016.
- Adjusted EBITDA was $25.6 million for the first quarter of fiscal 2017, compared with Adjusted EBITDA of $19.2 million in the fourth quarter of fiscal 2016, and Adjusted EBITDA of $4.2 million in the first quarter of fiscal 2016.
- Cash, cash equivalents, and restricted cash were $229.3 million at October 1, 2016.
Nine analysts have OCLR ranked as a “Strong Buy” and one has it rated as a “Buy”. Price target consensus for OCLR is $12 however rumors peg the takeover price at $13. Investors should be aware that all 2016 insider transactions were sales – no management acquired shares of OCLR in 2016.
I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.
|Last Price a/o 8:00 AM EST||$ 9.40|
|Average Volume||5.19 million|
|Market Cap||$1.43 Billion|
|Shares Outstanding||154.95 million|
|Share Float||154.95 million|
|Short Interest Ratio||2.5|