Oclaro (OCLR) was Reiterated by Needham to “Strong Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 10 from a previous price target of $8 . Needham advised their investors in a research report released on Aug 30, 2016.
Many Wall Street Analysts have commented on Oclaro. Company shares were Reiterated by MKM Partners on Aug 3, 2016 to “Buy”, Firm has raised the Price Target to $ 8 from a previous price target of $7 .Company shares were Upgraded by Needham on Jul 25, 2016 to ” Strong Buy”, Firm has raised the Price Target to $ 7.50 from a previous price target of $7 .
On the company’s financial health, Oclaro reported $0.11 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.06. The company had revenue of $125.18 million for the quarter, compared to analysts expectations of $119.62 million. The company’s revenue was up 52.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.06 EPS.
Oclaro opened for trading at $7.71 and hit $7.81 on the upside on Monday, eventually ending the session at $7.71, with a gain of 2.94% or 0.22 points. The heightened volatility saw the trading volume jump to 47,73,829 shares. Company has a market cap of $865 M.
In a different news, on Aug 3, 2016, Adam Carter (Chief Commercial Officer) sold 19,506 shares at $6.00 per share price. According to the SEC, on May 20, 2015, Greg Dougherty (CEO) purchased 20,000 shares at $2.06 per share price.
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.