Oclaro (OCLR) : The consensus on Oclaro (OCLR) based on 8 analyst recommendation on the company stock is 1.25, which is interpreted as a Strong Buy recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 7 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 1 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating.
Oclaro (OCLR) : The highest short term price target forecast on Oclaro (OCLR) is $8 and the lowest target price is $7. A total of 7 equity analysts are currently covering the company. The average price of all the analysts is $6.93 with a standard deviation of $0.43.
For the current week, the company shares have a recommendation consensus of Buy. Also, Needham upgrades their rating on the shares of Oclaro (NASDAQ:OCLR). The current rating of the shares is Strong Buy. Earlier, the shares were rated a Buy by the brokerage firm. The rating by the firm was issued on July 25, 2016.
Oclaro (NASDAQ:OCLR): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $6.28 and $5.75 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $6.49. The buying momentum continued till the end and the stock did not give up its gains. It closed at $6.22, notching a gain of 12.27% for the day. The total traded volume was 10,835,381 . The stock had closed at $5.54 on the previous day.
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. Its product offerings include client side transceivers, line side transceivers, tunable laser transmitters, lithium niobate modulators, transponder modules and receivers. The Company supplies optical products, including tunable lasers, external modulators, integrated lasers and modulators and receivers. The Company also supplies products at the module and subsystem levels, including transceivers, transponders and controlled subsystems.