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Today’s Research Reports on Stocks to Watch: Oclaro and Lumentum Holdings

ACCESSWIRE

NEW YORK, NY / ACCESSWIRE / February 7, 2017 / Optical stocks Lumentum Holdings and Oclaro were on fire on Tuesday, with both stocks closing the day up over 20%. Both stocks were shining after reporting impressive earnings reports this week.

RDI Initiates Coverage on:

Oclaro, Inc.
https://rdinvesting.com/news/?ticker=OCLR

Lumentum Holdings Inc.
https://rdinvesting.com/news/?ticker=LITE

Oclaro, Inc. shares closed up 20.88% on nearly 19.5 million shares traded on Tuesday. It was Monday night that the company reported its fiscal second quarter earnings results. The California company reported net income of 11 cents per share. Adjusted for one time gains and costs left earnings at 14 cents per share. This was a penny ahead of the 13 cents that analysts had been expecting. Revenue of $139.3 million was however a miss. Analysts had been waiting for revenue of $141.1 million. For the current quarter which will end in April, Oclaro has forecast revenue in the range of $120 to $128 million. "The December quarter results were in line with our expectations. While revenue declined from the prior quarter, the team again delivered strong gross margin, profitability and cash flow," said Greg Dougherty, CEO of the company. He continued, "While we project March quarter revenue to be down sequentially, we anticipate another quarter of solid operating income. As the headwinds facing the industry begin to subside, and we ramp new products, our revenue is expected to resume growth in the June quarter." Since the year started, shares of Oclaro had been in a decline.

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Access RDI's Oclaro, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=OCLR

Lumentum Holdings Inc. shares were exploding in Tuesday trading and closed the day up 21.24% on nearly 9.9 million shares traded. The optical components maker saw its shares skyrocket after announcing that it had shipped over $200 million worth of 3D sensing lasers to a customer that could have been Apple. According to two analysts, it was Apple that was the customer as the company has been seen as the primary supplier of vertical-cavity surface-emitting lasers that the iPhone X use to power its FACE ID feature as well as the TruthDepth camera technology. In 2nd quarter ended Dec 30, revenue for Lumentum saw a 52.7% jump at $404.6 million and EPS was $1.67. This was ahead of what analysts had been waiting for at revenue of $357.8 million and EPS of $1.12 per share. Analyst Jun Zhang of Rosenblatt Securities remarked, "We attribute the strength to an increased pull of 3D sensing shipments, driven primarily by Apple in December." The analyst said he estimated that Apple will procure 120-150 million 3D sensing components for its product ramp in the second half of the year.

Access RDI's Lumentum Holdings Inc. Research Report at:
https://rdinvesting.com/news/?ticker=LITE

Our Actionable Research on Oclaro, Inc. (NASDAQ: OCLR) and Lumentum Holdings Inc. (NASDAQ: LITE) can be downloaded free of charge at Research Driven Investing.

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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SOURCE: RDInvesting.com