Shares of Oclaro Inc. (NASDAQ:OCLR) were down 3.8% on Wednesday . The company traded as low as $6.90 and last traded at $7.04, with a volume of 5,216,257 shares traded. The stock had previously closed at $7.32.

A number of research firms have commented on OCLR. B. Riley reaffirmed a “buy” rating and issued a $5.25 price objective on shares of Oclaro in a report on Monday, May 2nd. Stifel Nicolaus lifted their price objective on shares of Oclaro from $6.00 to $6.50 and gave the stock a “buy” rating in a report on Wednesday, May 4th. Needham & Company LLC lifted their price objective on shares of Oclaro from $6.50 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, May 4th. Piper Jaffray Cos. lifted their price objective on shares of Oclaro from $6.50 to $6.75 and gave the stock an “overweight” rating in a report on Wednesday, May 4th. Finally, MKM Partners lifted their price objective on shares of Oclaro from $6.00 to $6.50 and gave the stock a “buy” rating in a report on Wednesday, May 4th. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. Oclaro has a consensus rating of “Buy” and a consensus target price of $7.33.

The company has a market cap of $821.39 million and a price-to-earnings ratio of 94.295. The firm’s 50 day moving average price is $5.73 and its 200 day moving average price is $5.04.

Oclaro (NASDAQ:OCLR) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. The business had revenue of $125.20 million for the quarter, compared to analyst estimates of $119.41 million. During the same quarter last year, the firm earned ($0.06) earnings per share. The firm’s quarterly revenue was up 52.3% compared to the same quarter last year. On average, equities analysts predict that Oclaro Inc. will post $0.39 EPS for the current year.

In other news, insider Adam Carter sold 19,506 shares of the company’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $6.00, for a total transaction of $117,036.00. Following the completion of the transaction, the insider now directly owns 202,584 shares in the company, valued at $1,215,504. The sale was disclosed in a filing with the SEC, which can be accessed 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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