Oclaro (OCLR) was Reiterated by Needham to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 7 from a previous price target of $6.50 . Needham advised their investors in a research report released on May 4, 2016.
Many Wall Street Analysts have commented on Oclaro. Company shares were Reiterated by Stifel on May 4, 2016 to “Buy”, Firm has raised the Price Target to $ 6.50 from a previous price target of $6 .Oclaro was Initiated by Drexel Hamilton to “Hold” on Apr 8, 2016. Company shares were Reiterated by Stifel on Mar 23, 2016 to “Buy”, Firm has raised the Price Target to $ 6 from a previous price target of $5 .
On the company’s financial health, Oclaro reported $0.03 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Feb 2, 2016. Analyst had a consensus of $-0.01. The company had revenue of $94.10 million for the quarter, compared to analysts expectations of $91.49 million. The company’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.09 EPS.
Oclaro (OCLR) witnessed a volatile trading activity on Monday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $5.05 and reached the intraday high at $5.09. The bulls started the profit booking and pushed the shares to intraday low of $4.91. The trading session was marked by a volume range of 17,45,436 shares exchanging hands. The 52-week high of the shares is $5.539 and the 52-week low is $1.76. The market cap of the company stands at $561 M and there are 11,10,45,922 shares in public circulation.
In a different news, 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.