Oclaro Inc. (NASDAQ:OCLR)’s share price hit a new 52-week high on Monday . The company traded as high as $8.41 and last traded at $8.39, with a volume of 4,338,800 shares traded. The stock had previously closed at $8.13.

A number of brokerages have weighed in on OCLR. B. Riley reissued a “buy” rating and issued a $8.00 target price on shares of Oclaro in a research report on Wednesday, August 3rd. Piper Jaffray Cos. reissued an “overweight” rating and issued a $6.75 target price on shares of Oclaro in a research report on Wednesday, June 1st. Needham & Company LLC reissued a “strong-buy” rating and issued a $8.00 target price (up previously from $7.50) on shares of Oclaro in a research report on Wednesday, August 3rd. MKM Partners reissued a “buy” rating on shares of Oclaro in a research report on Monday, June 6th. Finally, Stifel Nicolaus reissued a “buy” rating on shares of Oclaro in a research report on Thursday, May 19th. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the company. Oclaro has an average rating of “Buy” and a consensus target price of $7.73.

The stock’s 50-day moving average price is $6.57 and its 200 day moving average price is $5.31. The company has a market capitalization of $1.24 billion and a P/E ratio of 107.56.

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

In related news, EVP Lisa Paul sold 9,363 shares of the firm’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $7.69, for a total transaction of $72,001.47. Following the sale, the executive vice president now owns 218,264 shares of the company’s stock, valued at $1,678,450.16. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Adam Carter sold 19,506 shares of the firm’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $6.00, for a total value of $117,036.00. Following the sale, the insider now directly owns 202,584 shares in the company, valued at approximately $1,215,504. The disclosure for this sale can be found here.

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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