Oclaro Inc. (NASDAQ:OCLR) shares rose 2.1% on Monday . The stock 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.

OCLR has been the subject of several recent analyst reports. B. Riley restated 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 price target on Oclaro from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Wednesday, March 23rd. Craig Hallum boosted their price target on Oclaro from $5.25 to $5.75 and gave the stock a “buy” rating in a research note on Monday, March 28th. Zacks Investment Research cut Oclaro from a “buy” rating to a “hold” rating in a research note on Wednesday, July 6th. Finally, Drexel Hamilton initiated coverage on Oclaro in a research note on Friday, April 8th. They issued a “hold” rating for the company. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $6.25.

The company’s market capitalization is $615.69 million. The stock’s 50 day moving average is $4.95 and its 200-day moving average is $4.64.

Oclaro (NASDAQ:OCLR) last announced its earnings results on Tuesday, May 3rd. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.02. During the same period last year, the business posted ($0.09) EPS. The company had revenue of $101.10 million for the quarter, compared to the consensus estimate of $98.50 million. The firm’s revenue was up 21.8% compared to the same quarter last year. On average, equities research analysts expect that Oclaro Inc. will post $0.10 EPS for the current fiscal year.

An institutional investor recently bought a new position in Oclaro stock. 1492 Capital Management LLC bought a new stake in shares of Oclaro Inc. (NASDAQ:OCLR) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 916,197 shares of the company’s stock, valued at approximately $3,188,000. Oclaro comprises 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 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.

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