Oclaro Inc. (OCLR) Sees Large Volume Increase
Oclaro Inc. (NASDAQ:OCLR) shares saw unusually-high trading volume on Tuesday . Approximately 4,265,094 shares traded hands during 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.
OCLR has been the topic of several recent analyst reports. B. Riley restated a “buy” rating and set a $5.25 price objective on shares of Oclaro in a report on Monday, May 2nd. 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 report on Wednesday, May 4th. 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 report 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 report on Wednesday, May 4th. Finally, 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 report on Wednesday, May 4th. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Oclaro has an average rating of “Buy” and a consensus price target of $7.33.
The company has a 50 day moving average of $5.66 and a 200-day moving average of $5.03. The company has a market cap of $818.04 million and a price-to-earnings ratio of 93.910.
Oclaro (NASDAQ:OCLR) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.05. The company earned $125.20 million during the quarter, compared to analysts’ expectations of $119.41 million. During the same quarter in the previous year, the business posted ($0.06) EPS. The business’s quarterly revenue was up 52.3% compared to the same quarter last year. Equities research analysts forecast that Oclaro Inc. will post $0.39 earnings per share for the current year.
In other news, insider Adam Carter sold 19,506 shares of Oclaro stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $6.00, for a total value of $117,036.00. Following the completion of the transaction, the insider now owns 202,584 shares in the company, valued at approximately $1,215,504. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
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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