Oclaro Inc. (OCLR) Shares Down 0.2%
Oclaro Inc. (NASDAQ:OCLR)’s share price fell 0.2% during trading on Friday . The stock traded as low as $4.73 and last traded at $4.75, with a volume of 1,190,259 shares trading hands. The stock had previously closed at $4.76.
Several brokerages have recently commented on OCLR. Zacks Investment Research lowered Oclaro from a “buy” rating to a “hold” rating in a research note on Wednesday. MKM Partners reaffirmed a “buy” rating on shares of Oclaro in a research note on Monday, June 6th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $6.75 price target on shares of Oclaro in a research note on Wednesday, June 1st. Stifel Nicolaus reaffirmed a “buy” rating on shares of Oclaro in a research note on Thursday, May 19th. Finally, B. Riley reaffirmed a “buy” rating and issued a $7.50 price target on shares of Oclaro in a research note on Tuesday, May 17th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Oclaro currently has a consensus rating of “Buy” and a consensus target price of $6.25.
The company’s market capitalization is $533.82 million. The firm has a 50-day moving average of $4.84 and a 200-day moving average of $4.55.
Oclaro (NASDAQ:OCLR) last issued its quarterly earnings data on Tuesday, May 3rd. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The business earned $101.10 million during the quarter, compared to the consensus estimate of $98.50 million. During the same period last year, the company earned ($0.09) earnings per share. The business’s quarterly revenue was up 21.8% compared to the same quarter last year. On average, analysts forecast that Oclaro Inc. will post $0.10 EPS for the current fiscal year.
A hedge fund recently bought a new stake in Oclaro stock. 1492 Capital Management LLC acquired a new position in Oclaro Inc. (NASDAQ:OCLR) during the fourth quarter, Holdings Channel reports. The firm acquired 916,197 shares of the company’s stock, valued at approximately $3,188,000. Oclaro accounts for 2.3% of 1492 Capital Management LLC’s holdings, making the stock its 12th largest position. 1492 Capital Management LLC owned approximately 0.83% of Oclaro at the end of the most recent reporting period.
Oclaro, Inc is a provider of optical components, modules and subsystems for the optical transport, service provider, enterprise and data center markets. The Company supplies optical network technology to telecommunication and data communication equipment companies across the world. The Company designs, manufactures and markets optical components, modules and subsystems that generate, detect, combine and separate light signals in optical communications networks.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.