Oclaro Inc. (NASDAQ:OCLR) shares were down 0.2% during mid-day trading on Friday . The company traded as low as $4.73 and last traded at $4.75, with a volume of 1,190,259 shares. The stock had previously closed at $4.76.

A number of research analysts have recently issued reports on OCLR shares. B. Riley restated a “buy” rating and issued a $5.25 price target on shares of Oclaro in a research report on Monday, March 14th. MKM Partners started coverage on shares of Oclaro in a report on Wednesday, March 16th. They issued a “buy” rating and a $6.00 price objective on the stock. Stifel Nicolaus increased their price objective on shares of Oclaro from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Wednesday, March 23rd. Craig Hallum increased their price objective on shares of Oclaro from $5.25 to $5.75 and gave the stock a “buy” rating in a report on Monday, March 28th. Finally, Northland Securities increased their price objective on shares of Oclaro from $5.00 to $6.50 and gave the stock an “outperform” rating in a report on Monday, March 28th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $6.25.

The company’s market cap is $533.82 million. The company’s 50-day moving average price is $4.85 and its 200-day moving average price is $4.56.

Oclaro (NASDAQ:OCLR) last posted its quarterly earnings data on Tuesday, May 3rd. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.02. The company had revenue of $101.10 million for the quarter, compared to the consensus estimate of $98.50 million. During the same quarter in the previous year, the firm posted ($0.09) EPS. The business’s revenue for the quarter was up 21.8% compared to the same quarter last year. Equities research analysts expect 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 bought a new position in shares of Oclaro Inc. (NASDAQ:OCLR) during the fourth quarter, Holdings Channel reports. The fund bought 916,197 shares of the company’s stock, valued at approximately $3,188,000. Oclaro comprises approximately 2.3% of 1492 Capital Management LLC’s portfolio, making the stock its 12th largest position. 1492 Capital Management LLC owned 0.83% of Oclaro as of its most recent SEC filing.

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.