Oclaro Inc. (OCLR) Sees Strong Trading Volume
Oclaro Inc. (NASDAQ:OCLR) saw an uptick in trading volume on Tuesday . 4,265,094 shares were traded during mid-day trading, an increase of 1% from the previous session’s volume of 4,236,287 shares.The stock last traded at $7.27 and had previously closed at $7.17.
A number of brokerages recently issued reports on OCLR. B. Riley reiterated a “buy” rating and issued a $7.50 price target on shares of Oclaro in a research note on Saturday, May 7th. MKM Partners restated a “buy” rating on shares of Oclaro in a research report on Monday, June 6th. Needham & Company LLC restated a “strong-buy” rating and set a $8.00 price objective (up previously from $7.50) on shares of Oclaro in a research report on Wednesday, August 3rd. Cowen and Company assumed coverage on shares of Oclaro in a research report on Monday, August 8th. They set an “outperform” rating and a $9.00 price objective for the company. Finally, Stifel Nicolaus restated a “buy” rating on shares of Oclaro in a research report on Thursday, May 19th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Oclaro presently has a consensus rating of “Buy” and an average target price of $7.00.
The company’s 50-day moving average price is $5.60 and its 200 day moving average price is $5.01. The firm has a market cap of $817.48 million and a price-to-earnings ratio of 93.85.
Oclaro (NASDAQ:OCLR) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.05. The firm earned $125.20 million during the quarter, compared to analyst estimates of $119.41 million. During the same period last year, the business earned ($0.06) EPS. The firm’s revenue was up 52.3% compared to the same quarter last year. Equities analysts predict that Oclaro Inc. will post $0.39 earnings per share for the current fiscal year.
In other Oclaro news, insider Adam Carter sold 19,506 shares of the stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $6.00, for a total value of $117,036.00. Following the completion of the sale, the insider now owns 202,584 shares of the company’s stock, valued at $1,215,504. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
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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