Oclaro Inc. (NASDAQ:OCLR) saw strong trading volume on Friday . 1,605,271 shares changed hands during mid-day trading, a decline of 21% from the previous session’s volume of 2,034,821 shares.The stock last traded at $5.17 and had previously closed at $5.10.

Several analysts have recently issued reports on the company. Zacks Investment Research downgraded Oclaro from a “buy” rating to a “hold” rating in a research report on Wednesday, April 6th. Craig Hallum increased their target price on Oclaro from $5.25 to $5.75 and gave the stock a “buy” rating in a research report on Monday, March 28th. Northland Securities increased their target price on Oclaro from $5.00 to $6.50 and gave the stock an “outperform” rating in a research report on Monday, March 28th. Drexel Hamilton assumed coverage on Oclaro in a research report on Friday, April 8th. They set a “hold” rating on the stock. Finally, MKM Partners reiterated a “buy” rating on shares of Oclaro in a research report on Monday, June 6th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Oclaro currently has a consensus rating of “Buy” and an average price target of $6.25.

The stock’s market capitalization is $576.44 million. The company has a 50 day moving average of $4.93 and a 200 day moving average of $4.60.

Oclaro (NASDAQ:OCLR) last released its quarterly earnings data on Tuesday, May 3rd. The company reported $0.03 EPS for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.02. The firm earned $101.10 million during the quarter, compared to the consensus estimate of $98.50 million. Oclaro’s quarterly revenue was up 21.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.09) EPS. Equities research analysts anticipate 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 Oclaro Inc. (NASDAQ:OCLR) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 916,197 shares of the company’s stock, valued at approximately $3,188,000. Oclaro comprises 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 filing with the SEC.

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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