Oclaro Inc. (OCLR) Shares Up 3.6%
Oclaro Inc. (NASDAQ:OCLR) shot up 3.6% on Monday . The stock traded as high as $4.98 and last traded at $4.93, with a volume of 2,626,097 shares. The stock had previously closed at $4.76.
Several brokerages have recently weighed in on OCLR. B. Riley reiterated a “buy” rating and issued a $7.50 price target on shares of Oclaro in a report on Saturday, May 7th. MKM Partners reiterated a “buy” rating on shares of Oclaro in a report on Monday, June 6th. Northland Securities increased their price target on Oclaro from $5.00 to $6.50 and gave the stock an “outperform” rating in a report on Monday, March 28th. Needham & Company LLC increased their price target on Oclaro from $6.50 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, May 4th. Finally, Stifel Nicolaus reiterated a “buy” rating on shares of Oclaro in a report on Thursday, May 19th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $6.25.
The stock’s 50-day moving average price is $4.89 and its 200 day moving average price is $4.59. The company’s market cap is $570.83 million.
Oclaro (NASDAQ:OCLR) last issued its earnings results on Tuesday, May 3rd. The company reported $0.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.02. During the same quarter in the prior year, the firm earned ($0.09) earnings per share. The company had revenue of $101.10 million for the quarter, compared to analyst estimates of $98.50 million. The company’s revenue for the quarter was up 21.8% on a year-over-year basis. Analysts anticipate that Oclaro Inc. will post $0.10 earnings per share for the current fiscal year.
A hedge fund recently bought a new stake in Oclaro stock. 1492 Capital Management LLC purchased a new position in Oclaro Inc. (NASDAQ:OCLR) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 916,197 shares of the company’s stock, valued at approximately $3,188,000. Oclaro accounts for about 2.3% of 1492 Capital Management LLC’s investment portfolio, making the stock its 12th largest position. 1492 Capital Management LLC owned about 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.
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