Oclaro Inc. (OCLR) Sees Large Volume Increase
Shares of Oclaro Inc. (NASDAQ:OCLR) saw unusually-high trading volume on Friday . Approximately 1,605,271 shares traded hands during trading, a decline of 21% from the previous session’s volume of 2,034,821 shares.The stock last traded at $5.17 and had previously closed at $5.10.
OCLR has been the topic of several research analyst reports. Craig Hallum increased their price target on Oclaro from $5.25 to $5.75 and gave the company a “buy” rating in a report on Monday, March 28th. Stifel Nicolaus increased their price target on Oclaro from $5.00 to $6.00 and gave the company a “buy” rating in a report on Wednesday, March 23rd. MKM Partners raised their target price on Oclaro from $6.00 to $6.50 and gave the stock a “buy” rating in a report on Wednesday, May 4th. Needham & Company LLC raised their target price on Oclaro from $6.50 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, May 4th. Finally, B. Riley reaffirmed a “buy” rating and issued a $5.25 target price on shares of Oclaro in a report on Monday, May 2nd. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $6.25.
The firm’s 50-day moving average price is $4.92 and its 200 day moving average price is $4.59. The stock’s market capitalization is $576.44 million.
Oclaro (NASDAQ:OCLR) last announced its quarterly earnings data on Tuesday, May 3rd. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. During the same period last year, the firm earned ($0.09) earnings per share. The company had revenue of $101.10 million for the quarter, compared to analysts’ expectations of $98.50 million. Oclaro’s quarterly revenue was up 21.8% compared to the same quarter last year. Equities research analysts forecast that Oclaro Inc. will post $0.10 EPS for the current year.
An institutional investor recently bought a new position in Oclaro stock. 1492 Capital Management LLC acquired a new position in shares of Oclaro Inc. (NASDAQ:OCLR) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 916,197 shares of the company’s stock, valued at approximately $3,188,000. Oclaro comprises 2.3% of 1492 Capital Management LLC’s investment portfolio, making the stock its 12th largest position. 1492 Capital Management LLC owned approximately 0.83% of Oclaro as of its most recent SEC filing.
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.