Oclaro Inc. (NASDAQ:OCLR)’s share price traded down 3.5% on Wednesday . The stock traded as low as $5.71 and last traded at $5.80, with a volume of 2,119,173 shares traded. The stock had previously closed at $6.01.

Several equities analysts have recently weighed in on the stock. B. Riley reiterated a “buy” rating and issued a $7.50 target price on shares of Oclaro in a research note on Tuesday, May 17th. Needham & Company LLC boosted 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. boosted 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 boosted 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 reaffirmed a “buy” rating on shares of Oclaro in a research note on Thursday, May 19th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $6.31.

The company has a 50-day moving average price of $5.04 and a 200-day moving average price of $4.72. The company’s market capitalization is $650.45 million.

Oclaro (NASDAQ:OCLR) last posted its earnings results on Tuesday, May 3rd. The company reported $0.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.02. During the same quarter in the prior year, the company posted ($0.09) EPS. The company had revenue of $101.10 million for the quarter, compared to the consensus estimate of $98.50 million. Oclaro’s revenue was up 21.8% on a year-over-year basis. Equities analysts expect that Oclaro Inc. will post $0.10 earnings per share for the current year.

An institutional investor recently bought a new position in Oclaro stock. 1492 Capital Management LLC acquired a new stake in Oclaro Inc. (NASDAQ:OCLR) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 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 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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