Oclaro Inc. (OCLR) Trading Down 2%
Oclaro Inc. (NASDAQ:OCLR) shares traded down 2% on Wednesday . The stock traded as low as $5.37 and last traded at $5.38, with a volume of 1,285,774 shares trading hands. The stock had previously closed at $5.49.
Several research analysts have weighed in on the stock. B. Riley reiterated a “buy” rating and issued a $5.25 price objective on shares of Oclaro in a research note on Monday, May 2nd. Needham & Company LLC upped their price objective on shares of Oclaro from $6.50 to $7.00 and gave the company a “buy” rating in a research note on Wednesday, May 4th. Piper Jaffray Cos. upped their price objective on shares of Oclaro from $6.50 to $6.75 and gave the company an “overweight” rating in a research note on Wednesday, May 4th. MKM Partners upped their price objective on shares of Oclaro from $6.00 to $6.50 and gave the company a “buy” rating in a research note on Wednesday, May 4th. Finally, Stifel Nicolaus upped their price objective on shares of Oclaro from $6.00 to $6.50 and gave the company a “buy” rating in a research note on Wednesday, May 4th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Oclaro currently has an average rating of “Buy” and an average price target of $6.25.
The stock’s market capitalization is $604.47 million. The stock has a 50 day moving average of $4.97 and a 200-day moving average of $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 Zacks’ consensus estimate of $0.01 by $0.02. The business earned $101.10 million during the quarter, compared to the consensus estimate of $98.50 million. The company’s revenue was up 21.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.09) EPS. On average, analysts anticipate that Oclaro Inc. will post $0.10 earnings per share for the current 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, according to its most recent 13F filing with the Securities and Exchange Commission. 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 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.
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.