Oclaro Inc. (OCLR) Sets New 52-Week High at $7.56
Shares of Oclaro Inc. (NASDAQ:OCLR) reached a new 52-week high on Tuesday . The company traded as high as $7.56 and last traded at $7.53, with a volume of 1,783,436 shares. The stock had previously closed at $7.38.
OCLR has been the subject of a number of recent research reports. TheStreet upgraded shares of Oclaro from a “hold” rating to a “buy” rating in a report on Wednesday, August 3rd. B. Riley reiterated a “buy” rating and issued a $7.50 target price on shares of Oclaro in a report on Thursday, May 12th. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $6.75 target price on shares of Oclaro in a report on Monday, August 1st. Zacks Investment Research downgraded shares of Oclaro from a “buy” rating to a “hold” rating in a report on Wednesday, July 6th. Finally, Needham & Company LLC upgraded shares of Oclaro from a “buy” rating to a “strong-buy” rating and boosted their target price for the stock from $7.00 to $7.50 in a report on Monday, July 25th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. Oclaro has a consensus rating of “Buy” and a consensus target price of $7.41.
The stock has a market cap of $840.94 million and a PE ratio of 96.54. The company’s 50 day moving average price is $5.92 and its 200 day moving average price is $5.13.
Oclaro (NASDAQ:OCLR) last announced its earnings results on Wednesday, August 3rd. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. The firm had revenue of $125.20 million for the quarter, compared to analysts’ expectations of $119.41 million. The business’s revenue was up 52.3% compared to the same quarter last year. During the same quarter last year, the business earned ($0.06) earnings per share. Equities research analysts expect that Oclaro Inc. will post $0.39 EPS for the current year.
In related news, insider Adam Carter sold 19,506 shares of the firm’s stock in a transaction dated 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 approximately $1,215,504. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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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