Oclaro Inc. (OCLR) Trading Up 2.1%
Shares of Oclaro Inc. (NASDAQ:OCLR) were up 2.1% during trading on Monday . The company traded as high as $5.30 and last traded at $5.25, with a volume of 746,151 shares. The stock had previously closed at $5.14.
A number of analysts have recently commented on OCLR shares. B. Riley reiterated a “buy” rating and issued a $7.50 price target on shares of Oclaro in a research note on Thursday, May 12th. Stifel Nicolaus boosted their target price on shares of Oclaro from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Wednesday, March 23rd. Craig Hallum boosted their target price on shares of Oclaro from $5.25 to $5.75 and gave the company a “buy” rating in a research report on Monday, March 28th. Zacks Investment Research lowered shares of Oclaro from a “buy” rating to a “hold” rating in a research report on Wednesday, July 6th. Finally, Drexel Hamilton began coverage on shares of Oclaro in a research report on Friday, April 8th. They set a “hold” rating for the company. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $6.25.
The firm has a 50-day moving average price of $4.93 and a 200-day moving average price of $4.60. The stock’s market capitalization is $598.87 million.
Oclaro (NASDAQ:OCLR) last released its quarterly earnings results on Tuesday, May 3rd. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. During the same quarter in the prior year, the business posted ($0.09) earnings per share. The firm earned $101.10 million during the quarter, compared to the consensus estimate of $98.50 million. The firm’s quarterly revenue was up 21.8% on a year-over-year basis. Equities research analysts anticipate that Oclaro Inc. will post $0.10 EPS for the current year.
A hedge fund recently bought a new stake in Oclaro stock. 1492 Capital Management LLC acquired a new stake in shares of Oclaro Inc. (NASDAQ:OCLR) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 916,197 shares of the company’s stock, valued at approximately $3,188,000. Oclaro makes up 2.3% of 1492 Capital Management LLC’s 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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